Submitted by marketrent t3_126lnda in technology
voice-of-reason_ t1_jebw3a0 wrote
Reply to comment by 400921FB54442D18 in It's becoming increasingly clear that fintech has a fraud problem by marketrent
Have you read the Bitcoin white paper? It states it’s purpose in their.
You can’t judge a technology based on what some people on a subreddit say, you base it off of what the creator says.
Bitcoin is a decentralised peer to peer payment network - as described by the creator - that has been operating with no significant downtime (I.e. 0.000x%) 24/7 365 since 2009. If you don’t see how that is a good investment I don’t know what to tell you.
In you’re example you talk about silver being essentially worthless even though lots of people thought it had value. The reality is that this is the situation of the USD, GBP ETC. These currencies are seen by essentially everyone as safe but they have been collapsing slowly for the last 50 or so years, I’m sure as an older person you remember and have actively experienced this with the cost of everything increasing over your lifespan.
To me, in 2023 Bitcoin is the cash of your example and cash is the silver. It’s fine to disagree with that but every year and every recession more and more people realise the value of a neutral asset like Bitcoin.
Inflation over the past year has been bad, but hyperinflation (which is inevitable for all regular currencies) will kill your nations economy, Bitcoin doesn’t suffer that issue.
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