75 () posted 1 year ago by BigMikesSaggyBaggins 1 year ago by BigMikesSaggyBaggins +75 / -0 50 comments share 50 comments share save hide report block hide replies
More like a legal pyramid scheme. The inventors and very early investors are the ones who made a fortune on very little investment.
Block chain makes sense for internet transactions. Creating imaginary currency out of increasing power usage does not.
BTC is the only currency with provable scarcity.
We would use Funk O pops as currency if we had assurances of a finite supply
I could sell my dogs poop. There will be a finite supply of that because my dog will die eventually.
But we couldn't tell your dogs poop from anothers.
Each block of BTC is unique
Don't worry, I'll give you a unique GUID with each one.
Explain to me how it's not another form of FiAT.
I already have if you read this whole thread.
Fiat is centralized; single individuals are able to arbitrarily increase the supply, devaluing currency.
Bitcoin is decentralized, it is hard coded to have a finite supply that can't be arbitrarily altered.
The moment I saw crypto ATM's at gas stations was the moment I knew the scam was bottoming out.