On: BadEconomics: Putting $400M of Bitcoin on your company balance sheet

[capnorange]

I get this argument but you can long BTC if you are long internet.

BTC has some superior properties:

1. Censorship resistance / Self custody

2. Reasonably cheap to transact large value across space.

3. Network effects

Also, gold like bitcoin have a huge monetary premium so the same argument applies.

[wasdfff → capnorange]

None of the perks are beneficial to the consumer. The consumer just sees the onerous process of converting btc to usd, and sees the currency as speculative like a penny stock and nothing more. The only people who are long interner are the same people as they were 10 years ago. For most people, btc is a slot machine.

[Acrobatic_Road → wasdfff]

Censorship resistant is not useful to the consumer? If a vendor has been financially censored then bitcoin is surely useful. For instance, if you want to purchase a 4chan pass, its crypto only baby.

[NicoJuicy → capnorange]

> Reasonably cheap to transact large value across space.

Nice dodge on the 8$ min. transaction fees :)

[jjk166 → NicoJuicy]

And how much does it cost to same-day deliver a gold bar to the other side of the world?

Also the fees are in bitcoin - if bitcoin is worthless, the fees are nothing.

[NicoJuicy → jjk166]

What a real life comparison ¯\_(ツ)_/¯

If you ever send a gold bar across the world, I'll send you a beer.

I won't pay the beer with bitcoin though, to expensive for normal use, that includes conversion to euro back and forth in USD/EUR to actually use it :)

[deeeeplearning → capnorange]

>2. Reasonably cheap to transact large value across space.

Definitely not accurate and this says nothing of the massive environmental cost of transacting on the blockchain.