I know very little about cryptocurrency, but from my understanding this thread is mostly on point. Would be interested in views from experts in the areahttps://twitter.com/justinlabel/status/1433630073974894594 …
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As a non-expert in the field, I just cannot see any actual value in Bitcoin. Speculation is rife, but it's essentially useless as a functional currency and there's no capital backing it up. Aside from some vague use as a means of evading the law, what could it possibly provide?
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Replying to @GidMK
It boils down to being able to work for, and transact with, a currency that cannot be created out of thin air by central bankers and governments to forgive fraud in the banking sector. Bitcoin doesn't do bank bailouts. There's much more to it. But in a nutshell, that's it.
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Replying to @redundanthuman
If the only value that Bitcoin has is that it is not centralized, then it really is worthless as a currency, but that's also a bit misleading - currently, wealthy speculators can control the value of BTC simply by moving their money around
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If one guy can halve the value of the currency overnight by buying/selling a tiny fraction of his wealth then you've just traded a central bank for the influence of billionaires
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