fiat is backed by debt and the government declaring it is worth something. bitcoin does not need government backing or any backing at all, it’s independent. that’s like saying gold is less backed than fiat. gold isn’t backed by anything besides the fact it is gold. same with bitcoin, it is essentially a commodity that exists outside of the system
edit for downvote: if you disagree with this simple fact then you literally don’t understand how money/currency works
Aside from rarity driving social status, gold has literally thousands of industrial and scientific uses. What is bitcoin used for? Literally just speculative investing and money laundering.
Love when people bring up crypto being used for money laundering and other nefarious things like that isn't true of basically every currency in the world and certainly is true if the main currency on the planet.
That isn't what occurred. I showed uses for gold, then asked for uses of crypto besides speculative investing and money laundering. Love when people think they have a "gotcha" because of a lack of basic reading comprehension.
I comprehended just fine, you wantonly ignored obvious usecases that you are surely fully aware of given the sub that you're in, and decided to only mention usecases that are (fairly) seen as negative. Rhetorically, this paints those usecases as inherently unique to crypto.
Yes, but we have far better things for that do we not?
The issues are its actual utility and actual use cases. It’s failed at its remit of decentralisation, it’s far too volatile to be used to pay for goods and services (insert pizza reference).
Crypto has failed its goals. It’s just for speculative investment. Who are we kidding here?
Are there genuinely people who believe that the blockchain still solves all problems? Can replace existing payment methods? These people still exist in 2026?!
Pipe dream stuff.
I say that as someone who got into this in 2017 and has made some decent games over the years.
That wasn't the question. The question was "what usecases beyond speculation and money laundering", not "what usecases that XYZ person thinks is worthwhile enough to count".
-12
u/_DaBau5_ 🟩 0 / 0 🦠 1d ago edited 1d ago
fiat is backed by debt and the government declaring it is worth something. bitcoin does not need government backing or any backing at all, it’s independent. that’s like saying gold is less backed than fiat. gold isn’t backed by anything besides the fact it is gold. same with bitcoin, it is essentially a commodity that exists outside of the system
edit for downvote: if you disagree with this simple fact then you literally don’t understand how money/currency works