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Comment by matheusmoreira | Hacker News Reader

Bitcoin is a failure. It promised privacy, low fees, decentralization, lack of censorship and sanctions. We ended up with a transparent centralized expensive block chain whose tokens are not fungible. It's just a memecoin now. It just happens to be the biggest memecoin on the market. It's the one everyone knows about.

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Bitcoin's biggest success was proving that a cryptocurrency could exist and have utility. In that, it's inspired the creation of many successors which are superior.

Yeah. The development of bitcoin was a historical event. As the first cryptocurrency it will always be important and remembered.

However, it's time for it to die in order to make way for better projects like Ethereum and Monero.

Yes but unfortunately it garnered significant network effects along the way and it is still more prominent than the myriad of superior implementations of the concepts it demonstrated.

If it's entirely useless how do you explain the adoption of BTC by people living in developing nations[0]?

[0] https://www.theguardian.com/technology/2021/jul/31/out-of-co...

it's a memecoin like windows 95 is a memeos.

It was possible for Microsoft to ship Windows 98. Bitcoin is so ideologically fraught that there cannot really be a "Bitcoin 2" without some massive upheaval. If you invested in Microsoft in the mid 90s you'd be doing great. If you invested in literally Windows 95, oof.

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