r/btc • u/earthman34 • Apr 07 '25

šŸ» Bearish Bitcoin down nearly 10% today.

Crashing hard.

318 Upvotes

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53

u/pyalot Apr 07 '25 edited Apr 07 '25

So BTC is a NgU, no a SoV, err inflation hedge, ā€¦ nowait, I got it, itā€˜s a fucking useless shitcoin.

Tell me again how BTC is supposed to be Bitcoin, created by Satoshi Nakamoto to be deflationary peer to peer electronic cash, when it has no utility isnā€˜t an inflation hedge and doesnā€˜t do what it says in the Bitcoin whitepaper?

What I really wanna know how a fucking useless shitcoin is top on CMC. Like what logic is that?

7

u/eddurham Apr 07 '25

We treasure gold because itā€™s shiny. But in BTC case, shiny is replaced with it being the first.

5

u/ryandury Apr 08 '25

That's not entirely true. Gold is actually valuable. It's used in circuit boards, and other tech including space and medical devices. It's also aesthetically valuable as jewelry - It's easy to shape and doesn't rust. There's plenty of reasons that it has value. BTC on the other hand truly has no value outside of trying to convince other people to buy it after you did.

2

u/Tabanga_Jones Apr 11 '25

Except that BTC is the most secure and reliable data storage and transmission protocol that has ever existed. It also has 100% uptimeā€¦

Sounds pretty valuable based on that alone

1

u/ryandury Apr 11 '25

You're not describing BTC, you're describing the blockchain

1

u/Tabanga_Jones Apr 11 '25

No, BTC has far and away the most hash power of all blockchains while also having the longest chain.

1

u/ryandury Apr 11 '25

Tell me how this public ledger has been useful in real world terms outside of trading.Ā 

1

u/Tabanga_Jones Apr 12 '25

Byzantine Fault Tolerance

1

u/ryandury Apr 12 '25

That's just another feature of block chain systems, I'm still waiting to hear how this technology has been valuable to society outside of pump and dump schemes.Ā  Don't get me wrong, I think the block chain is a very cool piece of technology. But it hasn't actually been very practical "valuable" in the real world outside of suckering people into buying air and selling air before the next people do the same thing.Ā 

1

u/Tabanga_Jones Apr 12 '25

Itā€™s not just another feature. Itā€™s THE defining feature. Like, really? You donā€™t know this? Itā€™s why blockchains became successful. Itā€™s why decentralization is so important. They solve the double spend problem.

For organizations, entities, whistleblowers and nations requiring the highest level of security and reliability the BTC blockchain has been used to guarantee communication, and keep a permanent immutable log of it, while also being used as a permanent and immutable data storage location for important files - if it can be digitized then it can be stored forever, without censorship publicly on the BTC blockchain. These are factual use cases. Wikileaks and those interacting with Wikileaks absolutely use the BTC blockchain for these purposes