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Comment by chx | Hacker News Reader

https://www.washingtonpost.com/news/wonk/wp/2015/06/08/bitco...

You'll find a lot of such dismissive articles about Bitcoin throughout its existence. Here's a collection of 'Bitcoin obituaries' if you want to reinforce that view: https://99bitcoins.com/bitcoinobituaries/

It's not an obituary, it's a fact. I am tired of rehearsing how a currency is enforced to be accepted in the issuing country, has a monetary authority etc. Otherwise while theoretically it could be called a currency, that's a thing for dictionary writers, it's just not usable in everyday life therefore anyone pushing for it has a not-entirely-straight agenda. There's no killer app for bitcoin yet and it's hard to even imagine a (legal) one.

It's possible future blockchains will be better but so far, this is not.

If you are in the US, what is your opinion on the common prison trope that smokes are money in prisons?

By that rational, any publicly traded commodity is a ponzi\pyramid scheme. Anything with a finite supply and demand will command a price. The market doesn't care if you dislike the speculative nature of bitcoin; it is simple supply and demand at work.

You could make the exact same arguments against gold but that doesn't stop central banks of the world from hording it: https://en.wikipedia.org/wiki/Gold_reserve The only differences are 3,500 years of history and... teleportation.

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