
Bitcoin Crashes to Below $5000 - TylerE
https://coinmarketcap.com/currencies/bitcoin/
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anigbrowl
It seems like it's slumping further with each (negative) market open. Wall
street had a terrible day and now markets in asia are slumping another 7% or
so.

In theory, this should have been cryptocurrency's time to shine - a certain
mathematical store of value, more convenient than gold and immune to the
vagaries of central banking. Clearly something was wrong with the theory.

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derrick_jensen
You can't use Bitcoin to buy food, pay rent, or commute. If people were
interested in long term storage, then the USD would be down and Gold would be
up, instead of the other way around.

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34679
BitPay, among others, has a debit card that pulls from your crypto wallet
instead of your bank account, using the current exchange rate. You can use it
just like any other debit card.

~~~
derrick_jensen
That's still USD at the end of the day. That just sells it to somebody else
who wants to use it as an investment (unless things have changed since I've
last looked into it). I'm not saying it wouldn't work, but the lack of people
actually accepting it as payment is preventing it from being treated as a
currency

