What’s the chance of some coin getting the feedback loops wrong and suddenly all the world’s output is eventually required to run the miners? Everything else comes to a screeching halt. Existential-like even. The Grey Goo of nanotech gone wrong.
I ask in jest. And a little bit of horror.
As I write, 333 million Americans are required to pay their taxes in USD. AFAIK, nobody is required to pay their taxes in BTC.
BTC is as much a currency as the laundry powder BB occasionally talks about. Except laundry powder can clean your clothes, BTC just consumes as much electricity as several countries to write 1MB of transactions every 10 minutes.
Topic summary
Cons: while technically a currency, it’s too volatile to be useful, doesn’t have the volume, isn’t accepted widely enough and is an ecological nightmare.
Pros: it is too a currency. I made a lot of money.
Cons: that’s irrelevant. See above.
Pros: did I mention I made an astounding amount of money.
Cons: yes.
::Takes hit off bong:: Like, what even is currency, man? It’s all just, like, scraps of paper and ones and zeroes, man. Back in ancient times, they had gold and silver. That was the shit, man. Now it’s all just fiat. Like, man…
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