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octaviusromulus t1_j223k11 wrote

Reply to comment by Future-Spirit7874 in Sam Bankman-Fried to enter plea in FTX fraud case by hzj5790

Maybe you should study history and economics.

The difference is that the dollar is an effective currency. You can use it in your day-to-day life to do the things that you need to do. Its value is in its usefulness, and it's widespread use in commerce by society.

The same is not true of Bitcoin. It is not useful in day-to-day transactions, and it is not used in commerce for anything other than speculation in itself. It's effectively tulips, but you can't put them in a vase and admire their beauty.

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mofman t1_j22ac0h wrote

What about gold?

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Future-Spirit7874 t1_j22jmci wrote

Better than the dollar, but the future of money is online.

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Helenium_autumnale t1_j22ym0g wrote

Money is online now; how do you imagine banking works in 2022? Everyone does online banking, pays bills, &c. online. We do that with fiat currency, which, unlike Bitcoin, is fungible and useful as a medium of exchange.

Not 13 hours ago, you wrote:

My prime membership is ending in January. I bought over 1k in presents from Amazon this Christmas.

Did you do that with Bitcoin, if it's so useful?

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Future-Spirit7874 t1_j2473ln wrote

I was replying to someone asking about gold.

If you don't see the value in bitcoin that is fine, it's not for you. When your currencey suffers from debasement you are welcome to change your opinion.

Bitcoin is still growing in adoption. The internet was around for ages, before it saw global widespread use. Yes there are places you can spend BTC online and in person for goods and services.

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Future-Spirit7874 t1_j22jdsd wrote

Yes I have.

The history of money. How every currencey gets debased over time. How the gold/silver coins of Rome got debased due to non-gold/silver metals being blended .

https://www.businessinsider.com/how-currency-debasement-contributed-to-fall-of-rome-2016-2

How comimg off the Gold Standard was one of the factors in the Great Depression. https://www.history.com/news/how-did-the-gold-standard-contribute-to-the-great-depression

Try reading the Bitcoin Standard.

Try watching the Zeitgeist Movies.

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