Pitch me bitcoin

Google
BePp74

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BePp74
Nov 22, 2020 218 Comments

So many smart people around me believe in bitcoin.
I can’t get it. Where does this confidence from?
We are in this hype for several years already. Nothing is happening. 0 super interesting crypto companies.

Why does bitcoin price keep increasing?

#bitcoin

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 TOP 218 Comments
  • HBO
    fgavwuaue

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    fgavwuaue
    FOMO
    Nov 22, 2020 6
  • Google
    Masssive D

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    Masssive D
    It’s a hedge against real yields, just like gold.
    Nov 22, 2020 6
    • Please do not want that. That is one of the reasons that the governments will regulate the coins.
      Jan 8, 2021
    • New
      rCcK45

      New

      rCcK45
      Except it's not though. It's directly correlated to consumer sentiment. If anything it's a multiplier of yield.
      Feb 15, 2021
  • Twitter
    FdJK15

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    FdJK15
    If you have faith in governments across the global, don’t buy Bitcoin. I think a lot of people just see through this, Bitcoin is a safety measure.
    Nov 22, 2020 4
  • New
    Kgjd51

    New

    Kgjd51
    There’s a lot of stupid hype around Bitcoin, where people who like to drop acid invent a bunch of silly stories about why it’s amazing. These are mostly equivalent to new age mumbo-jumbo where for example you might here stupid reasons for yoga being good for you. There’s plenty of legitimate reasons that yoga is good for you without invoking spirits.

    Digital objects are by their nature not scarce (in the economic sense- exclusionary) as they can be infinitely reproduced with no marginal cost. Bitcoin’s innovation was to enable scarcity in a digital context (without requiring trust in a third party guarantor). So now you have the equivalent of “land” or “gold bars” for the internet. Just some sort of asset which is scarce. Just like anything else with scarcity and utility, people will trade for money.

    Is it worth investing in? That depends, will more people or fewer people buy drugs on the internet in the future? Will more or fewer governments drive their economies into the ground?
    Nov 22, 2020 10
  • VMware
    goketsu

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    PRE
    Dell, General Motors
     goketsu
    Just think about the usecases of Blockchain instead of just bitcoin. We are in the very early stages of what could be a multi-industry disruption over the next few years.
    Nov 22, 2020 7
    • Netflix
      alphacoder

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      alphacoder
      In theory probably, but in practice in both cases you have local entities that enforce local laws designed to protect certain local interests. I don’t see how these processes would benefit from not having public people involved.
      Dec 24, 2020
    • Lyft
      ueh15?3

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      ueh15?3
      The defi usecases will hugely optimize the sluggishly arcane fintech. And in general I'm bullish on any tech that improves efficiency of something.
      BTC or some other alts I'm not exactly sure which one will shine but the underlying tech and research happening is real disruption . The skeptics only mock the volatility and trading aspects, they don't understand the tech.
      Jan 18, 2021