Quote:
Originally Posted by Jason14h
Sorry What are you talking about ? If you short Coinbase and Coinbase loses all their Bitcoin and goes bankrupt and their stock goes to zero you get rich shorting it.
Also Bitcoin is very traceable . You can tell exactly where it has gone . Now identifying to owner of that wallet can be impossible - I’ll give you that
|
Quote:
Originally Posted by Jason14h
Some of you need to leave North America and Western Europe and check out other countries financial and banking systems and currency controls if you want to see real world use cases and people actually using it as currency and for financial txns
|
The only use for B/C as a currency is if you are laundering/moving drug/black market money, it is perfect for that because you already assume a 50% loss through any laundering process so is still worth it, now there are a lot of black market users in the third world but no ordinary person anywhere is going to risk a 10 or 15% loss in normal use, let alone the vast risk of theft on top of the wild swings in price, a currency has to be reasonably stable over 2 or 3 month periods to be usable, you can't draw up a contract for delivering say 3000 buggy whips in 3 months if you dont actually know whether it's going to be up or down in value by 20 or 30%, most of the 3rd world uses US dollars for that very reason, they cant even risk the minimal comparative price fluctuations with an Argentinian Peso let alone crypto