re: Do you know of any effective Blockchain use cases? VIEW POST

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re: Let's follow the logic. Fiat money is anything without intrinsic value. A strawberry has intrinsic value because I can eat it. Wood has intrinsic v...

Something has value if it checks these two characteristics: scarcity & utility.
Bitcoin is scarce because there will ever be only 21 million Bitcoins. Not more.
What about utility? Bitcoin could become global reserve currency, capable of being transferred around the world in minutes (not days) and capable of being unconfiscable while holding its value.

It has nothing to do with fiat.

Well, that's the trick, your argument about utility is that "Bitcoin could become a global reserve currency". Right now it isn't and thus has no utility and consequently has no value. And the thing is that Bitcoin can't become a global reserve currency, because State agents (and their sovereign people) won't allow that.

Bitcoin has utility. Ask people in Venezuela that buy Bitcoin everyday to save some money because their currency is worthless and more worthless everyday. Even now, when I want to send money to anyone on the other continent, I would choose Bitxoin because it's faster and uncensorable.

How will states ban Bitcoin? They need to ban internet first. Hard to imagine.

21 million is ridiculous to me. Bitcoin isn’t the only one, there are thousands. Bitcoin Cash, now two different coins, and all the others show that 21 mill is a fallacy. By creating other coins no inflation is also a fallacy. Every new coin reduces the value of Bitcoin because the money would have been used to buy bitcoin not the coin they bought this diluting the pool. All I have to do is write a “Whitepaper” saying I’m going to save the world from the oppressors and I can create millions out of thin air and they cry about Fiat?!?

Those are just shitcoins which will eventually die anyway. And anyone willing to buy these worthless token will learn the hard way. Shitcoins are no competition to Bitcoin, nor do they share any values. All are just scams.

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