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0 pointsjqpabc1233y ago0 comments

I think the only path for bitcoin to move beyond speculation and fulfill it's stated goals is to become a real, practical currency. Absent price inflation/manipulation, there is little legal incentive to own bitcoin.

I don't think this can/will happen without government regulation. Otherwise, it will remain a playground for scammers and market makers/manipulators to enrich themselves at other's expense.

Government may be bad but the lack of it is worse. As evidenced by thousands of years of human experience.

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scotty793y ago· 2 in thread

If the price stabilizes then it will become wonderful store of value that you can move safely and privately across the borders. Which might have huge utility in the age of large migrations caused by global warming.

jqpabc123OP3y ago

Any stability bitcoin has achieved has been through association and/or manipulation with "stable coins" and dubious ties to fiat.

Bitcoin is not private and you can't really use the funds to make any real world purchase without converting into fiat and paying associated fees.

An account with wise.com can achieve similar cross border results with superior usability --- without bitcoin.

scotty793y ago

It doesn't look like that on a long term chart. Invention of tether is not visible on it at all.

You can't buy stuff directly for bitcoin yet, but you used to be able to. It was premature and destroyed by volatility. The volatility that goes away bit by bit with every 4 year cycle. Also even now there's really no problem to exchange bitcoin for fiat in most countries. Once you get throught the border with your savings you have whole country to cash them.

I have no idea what wise.com is and I have no idea how long they will stay around. I put nearly zero trust in any single commercial entity when it comes to my long term savings. After a glance I can see that they exist almost as long as bitcoin and they managed to support just 53 currencies so far out of 180 that exist and are most likely exchangable for bitcoin in some way.

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