Comment by anonym29
8 hours ago
Bitcoin exists. Completely permissionless, anyone on earth can use it. Easier to accept as a merchant than any third party integration. Doesn't require you to trust any government at all.
8 hours ago
Bitcoin exists. Completely permissionless, anyone on earth can use it. Easier to accept as a merchant than any third party integration. Doesn't require you to trust any government at all.
Cool, but unfortunately, it has the same same drawbacks as cash. If you get scammed, accidentally pay too much or lose your wallet you will never get it back. I sleep safer knowing that there is some protection in the banking system against losing money all of sudden.
People are downvoting you, but I can literally pay for my meal using CashApp at a diner in the middle of nowhere using Bitcoin.
Unfortunately it's also pretty clunky for tax reasons in many places and inherently deflationary (and as such problematic from an economic point of view).
Sure, great if you don't trust your government or whoever issues your local currency, but if you can, there are better alternatives. Trust is an asset, not just a liability.
Well-placed trust is a small asset, but misplaced trust is a massive liability.
It might not always be warranted, but where it was, increased trust in society, institutions, and systems has been the enabler for economic growth and human development in the past centuries. Talk it down at your own (or more accurately, at all our) peril.
2 replies →