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Comment by tomiplaz | Hacker News Reader

I don't think you understand what Bitcoin has brought to the table. Consider its fundamentals and its network effect. Other blockchain tech, most prominently permissioned blockchains, should be reprobated, since they don't require blockchain tech and could be better implemented using tech that relies on standard database systems.

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What Bitcoin has brought to the table:

- More convenient ways for malicious individuals to conduct ransomware attacks

- Fraudulent exchanges

- Persistent and global GPU shortages

- Anonymity to criminals

- Staggering consumption of real-life energy supplies, produced mostly with fossil fuels

What Bitcoin has not brought to the table:

- A store of value

- A trusted unit of account

- A widespread medium of exchange

All of those problems existed before Bitcoin, so Bitcoin evidently did not "bring them to the table"

And if Bitcoin is not a store of value, why are the Bitcoin I own seemingly maintaining (and increasing) their original value?

Classic. Bitcoin is not a store of value or trusted unit of account despite its massive market cap.

The primary objective measure of value is invalidated because you disagree with it and believe everyone else is wrong. You are a Kafka character.

something being used for massive financial speculation doesn't make it a store of value or a trusted unit of account.

Please try to expand your lists. Also, please try to create the same kind of expanded lists for other such related tech you're comparing Bitcoin with.

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