What is Bitcoin for?

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There has been but you wont accept if for some reason. It's just another currency but a purely digital one. It's to spend. That is what it is for.
Spend on what?
What can you buy with bitcoin?
A house? A yacht? A Pacific Island paradise? A small planet?
There isn't an online shop or in the high street i'm aware of that'll accept bitcoin in this country.
So do you buy bitcoin as you would a government bond for trading on the money markets?
 
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Spend on what?
That's it's problem. The question was what is it for.

There is some rather limited scope in some countries for spending it directly but it's highly unlikely to ever get to a useful level.

So usage has switched to something else - which I mentioned earlier. A rather risky option. Making more money from money. A sort of wild west currency market.
 
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Advocates talk about the forthcoming collapse of fiat currencies and how crypto will fill the void. However, regardless of what we do/don't think about existing currencies, when you think of all the day to day things that are inextricably linked to them, such a collapse would surely spell disaster for most of us. How crypto is supposed to fill said void (if not already invested) goodness only knows. Even if invested, in a fiat collapse scenario, how quickly could/would crypto pick up the slack.

Also, even if crypto did replace fiat, surely we'd still require policy and legislation to protect us? So, ultimately, what's the point?

It's a bit like people that call for national uprising against governments. Why bother? Whatever replaced it would still need structure and hierarchy. Greed, desire for power etc would soon start to permeate through once more. Back to square one.
 
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If you look at those who "accept" crypos as payment there is a "network fee", which is basically the conversion of the crypto to so called flat money.

Would I invest in Bitcoin - No, would I invest in blockchain technology - maybe. my concern would be, just like AI and ML, its getting rather generic.
 
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