The hard part of arguing about bitcoin is that you have two sides: One side that intrinsically knows it's just a vehicle for taking the greater fools' money but can't admit it. Another side that doesn't understand WTF is going on at all and falls back on "HAHA THAT'S STUPID!!"
1. I think Cryptocurrency has merit. 2. I think most of that merit is usefulness in black market / money laundering / skirting government oversight. 3. I think "investing" in bitcoin is nearly a zero-sum game.
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1) Are your comments present/near term or long term? I fully agree that the dominant uses cases thus far for the tech have been black/grey market + speculation thus far, but that's just the market getting ahead of itself.
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2) If BTC ONLY took over 10% of the role of gold as value store + was adopted as a cross border asset portability medium, it would justify massive gains given the 21M units. Never mind once they solve the fees/transaction speeds issues, which is coming fast.
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3) Crypto/blockchain as a whole is a much bigger topic, and most of the action IS scammy, but there are pearls in that dung heap, and they will be a big deal once they emerge from the pack.
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Can you answer a real question for me? Why do people always bring up the merits of blockchain when touting Crypto? Cryptocurrencies are effectively just the participation medals for processing blockchains right?
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