@Laconicif @MasculineMarsupial @Yakov Crypto might be amazing, but bitcoin won't be anything but a ponzi scheme.
We've already had it where a few investors were able to overwhelm the system and stop transactions from going through for months at a time. If that's the case, then the transactions from one walmart in a major city would totally destroy the system.
I don't know if you're old enough to remember the dot com bubble, but all kinds of companies were going to stratospheric valuations. that same time, Facebook didn't exist, Amazon only sold books, Netflix sent DVDs through the mail, Google didn't exist, and Apple was on the verge of bankruptcy. Yahoo is gone. Pets.com is long gone. AOL is gone, and AOL Time Warner is no longer. Yahoo at the time was considered king among tech stocks, and the AOL Time Warner merger was considered massive.
People were betting on tech stocks because the technology was promising, and most of them lost almost all of their investment because it doesn't matter if the technology is promising as much as it matters if the business is promising. Outside of "You should invest in bitcoin because bitcoin keeps going up", there's no good business case for the specific implementation of the technology. It isn't a currency. It isn't practical as a medium of exchange, and its volatility makes it useless as a store of wealth or a unit of account.
If one comes out that solves the volatility problem, solves the transaction throughput problem, and is relatively easy to use for end users, then I could see that one taking off during a period of stagflation like what we have coming up, but it won't be bitcoin.
We've already had it where a few investors were able to overwhelm the system and stop transactions from going through for months at a time. If that's the case, then the transactions from one walmart in a major city would totally destroy the system.
I don't know if you're old enough to remember the dot com bubble, but all kinds of companies were going to stratospheric valuations. that same time, Facebook didn't exist, Amazon only sold books, Netflix sent DVDs through the mail, Google didn't exist, and Apple was on the verge of bankruptcy. Yahoo is gone. Pets.com is long gone. AOL is gone, and AOL Time Warner is no longer. Yahoo at the time was considered king among tech stocks, and the AOL Time Warner merger was considered massive.
People were betting on tech stocks because the technology was promising, and most of them lost almost all of their investment because it doesn't matter if the technology is promising as much as it matters if the business is promising. Outside of "You should invest in bitcoin because bitcoin keeps going up", there's no good business case for the specific implementation of the technology. It isn't a currency. It isn't practical as a medium of exchange, and its volatility makes it useless as a store of wealth or a unit of account.
If one comes out that solves the volatility problem, solves the transaction throughput problem, and is relatively easy to use for end users, then I could see that one taking off during a period of stagflation like what we have coming up, but it won't be bitcoin.
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