> yielding almost no fruit
Bitcoin and Ethereum are "almost no fruit"? Combined they're sitting at ~$165 billion dollars in created value.
Bitcoin and Ethereum are "almost no fruit"? Combined they're sitting at ~$165 billion dollars in created value.
Huh? Bitcoin and Ehtereum are purely speculative assets, they have not enabled any new production or efficient distribution, they have not increased economic activity. They aren't even marginally useful in electronics production like gold is.
This is like saying printing dollars creates value (though the dollar is at least useful as an instrument of trade).
You know of another way to transfer massive amounts of money around the globe without middle men? This claim that cryptocurrency offers no value is completely ignorant of the most basic and fundamental properties of the technology.
No, because I have to go through various middlemen to transfer Bitcoin and turn them into real money.
The question is whether Bitcoin and Ethereum have provided value. "Have" means in the past up to and including the present.
You are implicitly agreeing with the statement that Bitcoin is only speculative, by admitting that it will only be useful without middlemen in a hypothetical future where it achieves wide adoption.
Bitcoin is useless for any legitimate business. The costs of using it vastly exceed any benefits.
A lot of dopes who think they’re smarter than the tax-man because they’ve been evading taxes by using bitcoin are going to have a ‘Martin Shkreli’ moment in the next few years.