"Bitcoin fixes this, it gives regular people an escape"
Really? It seems to have made a small group of early adopters very rich, a small group of insiders very rich, and a large group of people suckered into buying at 60k+ very poor.
I'm not really bullish or bearish on cryptocurrency, but it has a long way to go until it's something for "regular people".
It seems that way because you are not aware if how it is being used in practice. As a savings vehicle, holding for 4 years has never been a mistake. Globally, and for half a decade, it has been protecting poor people by giving them an exit. Millions of Venezuelans have avoided starvation by using it to avoid massive inflation destroying their savings. It is held in every country and every community.
I remember comments just like yours in the past 4 years who pretended like everyone got in at $20k (a price that existed for a day).
Average price over past 4 years is way below todays price. And todays price is only down due to this coordinated FUD attack.
PS— I am the only one who made a substantive comment on this thread and am being heavily down voted.
HN isn't a place of ideas, it is a place where where only a narrow, anti-human rights, ideology is tolerated.
Notice your entire response is a downvote and the assertion “that is total rubbish”. Not a rebuttal. Not even an attempt to address the point, followed with a personal attack.
Telling me I need a time out is exactly the kind of personal attack that is really just your confession that you are anti-intellectual and you are upset that I pointed out the hypocrisy.
And of course you want me to take a “time out” because the last thing you want is to be confronted with facts that undermine your bigotry.
I stand by my point that this has miles to go before it's for "regular people" and you kind of prove it in your response. Sure, if you had cash to put into bitcoin and hold for 4 years, you might have made more - but most "regular people" do not. The swings are far too wild to price anything in BTC (rather than peg it to another currency and convert it to BTC) so ultimately we're all still cashing out for dollars or pounds, and someone has to lose for that to happen. If you're an early adopter, or and insider, you know the perfect time to cash out and "buy the dip". 'Regular people' not so much.
My comment was not an attack on you, cryptocurrency, human-rights or anything else. I'm sure you've done very well from Bitcoin - but it's not ready for my mum.
I don't think you understand. The mere fact that it COULD potentially be used by anyone is a defense against all complaints. Because democracy. Like a magic charm you see. No I have never read any theory or heard the phrase "material conditions" why do you ask.
I'm exaggerating but I fucking swear this is the level of sophistication we get from actual crypto fiends in here.
Really? It seems to have made a small group of early adopters very rich, a small group of insiders very rich, and a large group of people suckered into buying at 60k+ very poor.
I'm not really bullish or bearish on cryptocurrency, but it has a long way to go until it's something for "regular people".