BrotherAmazing t1_j9wmopp wrote on February 25, 2023 at 2:12 AM

Reply to comment by Ahueh in Cathie Wood Continues Coinbase Buying by predictany007

I already named useful things Bitcoin does and you completely ignored them:

Bitcoin provides final irreversible settlement faster than ACH or Visa. This is important for me if I want to be 100% sure I have a final payment that can’t be clawed back before I send you something of value or perform a service for you of value. This can occur on a holiday or weekend or after hours when banks are closed.
I can send you a payment and it cannot be censored, sanctioned, or declined.
For a speculative investment, the native token of the Bitcoin payment network, BTC, is not a security by definition (even the SEC agrees) and that risk associated with being a security is eliminated. It also has a cap of 21M total BTC. Speculative? Yes! Don’t invest what you can’t afford to lose. Stupid? No! Not for 0.5% - 1% of your portfolio. The risk-reward given Bitcoin’s internal monetary policy and history of a bull market after each halving justifies speculation far more than on, say, 90% of the nonsense that gets thrown around here. It has the largest market cap for a reason.

There are more advantages than those I list, but those are very obvious advantages of Bitcoin.

Furthermore, Bitcoin was invented to solve a problem that was technical in nature, not the problem of “I want to get rich off a vaporware shitcoin” like almost all other chains besides Monero and Ethereum.

But the whole point here isn’t why Bitcoin will survive, the whole point is > 99% of crypto is garbage shit and Coinbase may not be a great investment longterm.

Ahueh t1_j9wrag1 wrote on February 25, 2023 at 2:49 AM

HONK

crash_bandicoot42 t1_j9wzfkd wrote on February 25, 2023 at 3:58 AM

ETH does this but it's significantly faster. BTC only had first mover advantage the past decade but I don't see a world in which even if crypto becomes mainstream that BTC is the leader because it lags significantly behind Monero, ETH and a few other coins in usability.

BrotherAmazing t1_j9x1vlw wrote on February 25, 2023 at 4:20 AM

Ethereum does, and should also be differentiated from “crypto” in general, but unlike Bitcoin it is a security and also has started seriously considering implementing mechanisms to censor transactions.

You also seem to ignore or perhaps are unaware of the Lightning Network.

But I agree Bitcoin, Ethereum, and Monero are a few non-scam non-shit blockchains, but almost everything else is complete rubbish, hence the main point that $COIN is at risk when they’re shilling shitcoin scams up the ying-yang and Papa Gensler comes guns a-blazing one of these days.