- inviolable property rights
- sound money enables accurate investment valuation and less inflation and wealth inequality
- low cost, high security, international final settlement
- instant payments on lightning network
Once you find out you'll panic about not having enough. The benefits are apparent when analyzed from the perspective of money as a technology that enables strong property rights defended by cryptography. Robert Breedlove does a podcast on the nature of money which great. This video also does a great job of addressing the "waste" by elaborating on "unforgable costliness" : https://youtu.be/b-7dMVcVWgc
All of these "uses energy per transaction" people are being underserved by their news sources on the development of the lightning network, which is like going from a LAN with global broadcast to NATed and routed TCP/IP (Bitcoin is a global broadcast layer and lightning is a transaction bundling / routing layer/network). I mean an entire country has adopted it and we still have folks on hacker news missing the disruption for the trees!
Turns out monetary expansion does cause price inflation: “ 1849 Sky high “gold rush” prices at a fashionable eating house in San Francisco: Corned Beef & Cabbage (1.25), Sweet Potatoes (50¢), Apple Pie (75¢).”
It’s over 40k, so either you don’t have access to real time data or you are trying to paint a picture that you prefer to believe. You can’t expect zero volatility in a new money while its being adopted. It’s the only fixed supply money in a world that’s printing paper like crazy, where do you think that trends trends to?
Did you even read article or just here to troll? All of your points (except for 1 about investing in everything, which is covered in the article) are FUD that have been debunked or addressed for years. Are you even in the software space, the whole point of software is to replace the limits physical world and now its possible with money, get excited!
Baffling that tech types here aren’t grasping digital money, basicaly a self custody PGP key with value, and instead defending the status quo with poorly researched FUD like layer 1 scaling limits, power usage, and fear of regulators!? You guys sound like Paul Krugman, meanwhile Tesla and MicroStrategy are taking all the trending bitcoins off the table… the only point I disagree with LynAlydn, who wrote a great article, is that Bitcoin doesn’t offer yield. You can get yield on Bitcoin by either loaning it out or staking in in the lightning network to collect fees for providing liquidity.
Bitcoin uses less energy to immutably log transactions than the manipulated rube goldberg system we currently use for keeping track of money balances, that should be all that matters.
Still plenty of comments about how to “make money” with bitcoin, completely missing the point the bitcoin is money. Ironic really since this group has been digitizing everything else in the world to make money they miss that software now actually is money!
Crawlers is top down approach, a distributed list that people pay digital money for listing will both incentivize nodes to be online and transforms sybil attacks into paid advertising.
UX has been a main focus of Bitcoin ever since Lightning made scaling possible. Checkout out the Strike app for seamless bitcoin (lightning) payments https://strike.zaphq.io/
Who cares? Anyone who feels like their purchasing power isn't where it should be is either underpaid, or a victim of central banks diluting their dollars with printing.
"a monetary policy that is not constrained by the presence of physical cash", that is like saying a democratic government that is not constrained by the need for voting.