Bitcoin has more social benefit than any other technology. Money is technology that runs our society by allowing us to trade our time between each other. Sound money that can't be diluted or stolen away by a few benefits everyone. It's not only more fair money, but it also allows perfectly efficient markets and saves the environment by not incentivizing overconsuming.
Bitcoin is not used for money laundering, gambling, vaporware etc. and is not particularly well suited for those. His claims are not based on actual data.
Bitcoin is decentralized. Bitcoin nodes which protect the monetary policy are run by users. It's not possible for anyone to weaken the currency by forcing users to run a weaker version of the software.
Bitcoin actually solves the problem of central bank monopolies. It is money, it is a currency, it is a store of value. His claims are simply false.
He just doesn't understand that it takes time for Bitcoin to stabilize at a certain value. It takes time for people to switch to a better money.
> Bitcoin has more social benefit than any other technology.
This is highly subjective. What about plumbing, electricity, or antibiotics?
Rank ordering technologies by their social benefits has major methodological problems. First, you can't consider any one technology in isolation; they exist in a network. Second, the value of a technology is relative to alternatives.
Bitcoin has more social benefit than any other technology. Money is technology that runs our society by allowing us to trade our time between each other. Sound money that can't be diluted or stolen away by a few benefits everyone. It's not only more fair money, but it also allows perfectly efficient markets and saves the environment by not incentivizing overconsuming.
Bitcoin is not used for money laundering, gambling, vaporware etc. and is not particularly well suited for those. His claims are not based on actual data.
Bitcoin is decentralized. Bitcoin nodes which protect the monetary policy are run by users. It's not possible for anyone to weaken the currency by forcing users to run a weaker version of the software.
Bitcoin actually solves the problem of central bank monopolies. It is money, it is a currency, it is a store of value. His claims are simply false.
He just doesn't understand that it takes time for Bitcoin to stabilize at a certain value. It takes time for people to switch to a better money.