Comment by ozgrakkurt
17 days ago
> BTC essential is worth $70k solely through the power of memes
This is not true.
BTC is way more sane than SpaceX as can be seen by it's history so far.
17 days ago
> BTC essential is worth $70k solely through the power of memes
This is not true.
BTC is way more sane than SpaceX as can be seen by it's history so far.
SpaceX is successfully building reusable rockets. BTC can process few transactions every ten or so minutes at enormous price.
I think SpaceX is definitely overpriced but saying that BTC is more sane is completely delusional.
BTC has the layer 2 lighting network that can process more transactions than Visa and MC combined with very cheap fees. I guess HN knowledge of Bitcoin does not go further than 2015
"Can" != "does". The current actual throughput of the Lightning Network is estimated at around 300 TPS: https://www.spark.money/tools/lightning-vs-visa
Also, everything on level 2 needs to be ultimately balanced on level 1; BTC doesn't have enough throughput to balance all the banks in the world, and lo Lightning appears to be consolidating into fewer nodes.
Also also, everything level 2 (including Lightning) necessarily takes away at least one of the selling points used for BTC, and replaces them with something functionally equivalent to 50% of a bank but worse.
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SpaceX the company has done and is doing amazing feats of technology.
SpaceX the stock is only in a very small part about rockets and space. In their filing they talk about their total addressable market being $28.5 trillion, of which $26.5 trillion are AI.
That means that they believe the SpaceX stock is 93% about AI.
It's open to argument whether xAI or BTC is crazier - I just wanted to say that when talking about SpaceX stock, it's not really about rockets.
dont think the value of btc comes from its utility anymore
stables are much better for transactions anyway
neither of them are sane. BTC is useless, unless your trying to buy child porn, buy illicit drugs on the internet, or someone who bought it before the value exploded. eventually, the world will come around and it will go to zero, if quantum doesnt kill it first. im looking forward to that day.
>BTC is useless, unless your trying to buy child porn, buy illicit drugs on the internet
The market has long shifted to "buy Litecoin with cash, swap it to Monero" for these kinds of activities.
i know exactly zero people using any of these markets, and 99% of the other people here can probably say the same.
USD is useless unless you want to buy something with it. You can't eat it, it has little fuel value...
...it is also propped up in value by a frankly insane demand for it from other countries...on its fundamentals it would be worth much less
what is your point?
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BTC's use is being bought and sold. So it's not useless. If I offer you one BTC for $30k, will you buy it?
If I offer you a tulip for $25,000 would you buy it?
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sure, because you'd be offering me an idiotic arbitrage. your sentence doesnt prove it's useful.
It is not useless, it is incredibly arrogant to think it is useless at this point. You can do a 10 minute research and see how useful it is
True, it's very useful for scammers, grifters, international terrorists and authoritarian governments to funnel monetary value around without having to rely on the traditional financial system where they may be blocked and their money confiscated.
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