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Comment by randomhodler84 | Hacker News Reader

I know you don’t believe it has any value; my belief is it is the most valuable thing on earth, more valuable than gold, platinum and love. I believe this as passionately as you are choosing to ignore it.

Your wall of text has many misconceptions and misunderstandings about how things actually work. I implore you to let your partially formed ideas go and read some more about what is really going on here.

Why do you think it is popular if it had no real value. Why is it the biggest meme of our lifetimes? Why will it be our money for the next 500 years?

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I think its currently popular because its new and highly volatile and unregulated.

Our society is quite busy with corona and while bitcoin uses a lot of energy already, the market size is still very small. Core reasons why i think we don't hear more about regulating bitcoins.

Popularity doesn't correlate to real value.

The market cap of Bitcoin is currently larger than Facebook [1]. The total market cap of all cryptocurrencies is over $2 trillion, which is larger than Microsoft, Amazon, Google or silver, and nearing the market cap of Apple. I would not consider that a small market.

It is not unregulated. There have been several lawsuits brought on to the space already [2][3]. Exchanges that don't enforce AML/KYC have charges brought against them [4]. It is less regulated than the stock market, but it is by no means the wild west, at least in the US.

1: https://companiesmarketcap.com/assets-by-market-cap

2: https://www.sec.gov/news/press-release/2020-262

3: https://www.sec.gov/news/press-release/2020-338

4: https://news.bloomberglaw.com/bloomberg-law-analysis/analysi...

I reference bitcoin against 'normal' markets like Gold, shares or normal currency.

But its true its value quadrupled in the last 6 month.

I do hope though that the pressure on Bitcoin increases based on co2 consumption alone.

But also all governments and law things are slow. Like if start a lawsuit today, something like this can take years right?

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