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Comment by yunohn | Hacker News Reader

TBH GPT/AI just felt like the most obvious topic for VCs and crypto grifters to shift their combined hype and focus. Obviously, they don’t want to devalue their work by mentioning this.

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Crypto was never useful.

bitcoin/cryptocurrency is useful as a store of value under kleptocratic regimes and super inflationary economies sadly the USA has become very inflationary due to fed printing infinite $$s under the guise of pandemic rescue.

The rest alt-coins, tokens yes I agree with you are never useful except for grift

It’s only useful for criminals because it’s allowed to be converted.

The Fed didn’t print infinite money. The government borrows the money it spends and pays interest.

They borrow (a large portion of) the money from themselves a.k.a. monetizing debt.

And so do consumers when they borrow from a bank. It’s not some mysterious black box.

If you bought BTC in 2021 how much value would it be storing now?

it is not a stable coin for certain @astrange, it is not a USD replacement but it is a deflationary store of value, where the value is supposed to accrue over longer term time horizons due to it is fixed number of 21m cap of number of bitcoins. so with the store of value comes quite a bit of volatility

It’s already been demonstrated how most inflation has been caused by corporate profit seeking, much of this confirmed by corporate executives boasting to shareholders.

Please stop amplifying capitalist propaganda.

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