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[quote=Anonymous][quote=Anonymous]bitcoin value is in the scarcity value and transportability value. hard to flee to another country with 50 oz of gold bars. the supply of btc is fixed (scarce). there are arguments for and against bitcoin. unlike gold, bitcoin has no actual use case as a commodity (cannot be made into jewelry or electronic components). whether or not bitcoin will prevail as the most efficient blockchain technology in the future remains to be seen. Decentralized finance via blockchain would be a progressive step for human economics - whether central banks allow this to happen is a whole other question[/quote]

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Also, decentralized finance is a destructive fantasy. I'm sure you think those mean ol' central banks manipulate finance too much, but do you really think cryptocurrency exchanges, the incredible concentration of bitcoin ownership in a tiny number of owners, and the extreme volatility of the asset won't lend itself to manipulation? Even if you did cut central banks out of the process (which you won't, because regulators gonna regulate), you're just swapping in another set of power players with even less constraints than government. DeFi is even more destructive if it means tax evasion, not to mention the heavy environmental cost of cryptocurrency mining and use. I don't see this as "progressive" for human economics at all! It's just a new way for a small number of rich people to get richer selling you a bunch of numbers and narrative that you're somehow resisting the establishment.[/quote]

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