Quote:
Originally Posted by wankawonk
Should be pointed out that, by market cap, Bitcoin is less than 3x as valuable as Ethereum.
On a fundamental level you're obviously right; 'value' is what we place on it. But compare Bitcoin, Boeing stock, and gold: They have different intrinsic properties. Boeing stock entitles me to voting rights and dividends in a multinational corporation. Gold is used to make jewelry, electronics, and a variety of other things. Bitcoin enables instant, anonymous online payment, across borders.
The problem is that governments have a vested interest in NOT allowing that. The #1 reason you'd want to use bitcoin (beyond speculation) is because you are doing something illegal and don't want the government to know about it.
Governments can shut down fiat-crypto exchanges any time they want (india just did it), and if they do, the only way you can trade fiat-crypto is by meeting shady people in person and exchanging cash. Fuck everything about that.
That's why for investment I prefer the utility tokens. They have a value beyond enabling something governments don't want. Some day I think we'll be hosting our websites on decentralized cloud infrastructure backed by blockchain. Shit will be lit.
|
Yes but again you are thinking in terms of "usefulness". Bitcoin is not to be SPENT, it is meant to be held and then sold for profit. We may as well be talking about old sneakers here. Bitcoin is an illusion BUT SO IS MONEY.
India can ban anything they want but as long as Indians have a VPN they can buy/sell whatever they want. (Or maybe India is so broke ass that no one there has PayPal or the ability to open bank accounts outside India.)
For any Government to successfully kill a Bitcoin (or any crypto) with the goal of eliminating "illegal activity" they would ALSO have to ban cash. Otherwise it's pointless.