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Bitcoin is Stupid and Does Not Deserve an Emoji (blog post) (thedabbler.patatas.ca)

submitted 3 months ago* (last edited 3 months ago) by smallpatatas@lemm.ee to c/technology@lemmy.world

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35 crypto companies got together to make a change dot org petition called "Bitcoin Deserves an Emoji".

F that

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[–] smallpatatas@lemm.ee 2 points 3 months ago (1 children)

Bitcoin's "value" in USD terms has dropped ~20% in the last few days, so I'm not sure we can call it 'stable'

[–] iopq@lemmy.world 2 points 3 months ago (1 children)

In 1998 the USD fell like 20% vs the yen, currencies don't always stay the same value vs. other currencies

[–] smallpatatas@lemm.ee 2 points 3 months ago (2 children)

Bitcoin regularly loses 85% of its "value" vs USD

85%

This has happened multiple times

[–] lemmytellyousomething@lemmy.dbzer0.com 1 points 3 months ago* (last edited 3 months ago) (1 children)

Turkey's currency dropped 83% in the last 5 years and 94% in 10 years (per USD). And by the way: It dropped and did not rise the same amount ever again...

Why can't we just agree that different people might have different views whether it's useful for them?

Is it more stable compared to USD? No. Is it more stable compared to dozens of other currencies? Yes.

I think, there are very good arguments against BTC, for example the energy consunption... But whether it's too risky for you or not... That's highly subjective IMO. There is no country on this planet with only BTC as official currency. So, no one is forced to hold 100% of their total money in BTC.

[–] smallpatatas@lemm.ee 1 points 3 months ago (1 children)

So the argument is no longer "Bitcoin provides stability" or whatever, but instead is, "it's no more unstable than the world's most unstable national currency"?

[–] lemmytellyousomething@lemmy.dbzer0.com 0 points 3 months ago (1 children)

Please tell me where I (or anyone) wrote "Bitcoin provides stability" without comparing it to another currency....

I assume, arguing with you is an endless circle where you argue against fake arguments that no one has brought up. I'll therefore end this here. Why are you like this?

[–] smallpatatas@lemm.ee 1 points 3 months ago

Hey look, I wasn't the one that wrote this:

"E.g. for people in Turkey, it’s a lot more stable than their own currency. Same logic for probably dozens of other countries…"

Is the "dozens of other countries" statement something you no longer stand behind, or are you done being rude?

[–] iopq@lemmy.world 1 points 3 months ago (1 children)

The swings were bigger when the market cap was smaller, this is usually the case. The market cap of the yen is much bigger still.

[–] smallpatatas@lemm.ee 2 points 3 months ago

Turns out you're right, BTC price only went down 77% from the 2021 peak, my mistake /s