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What do you think about Gwern's article on Bitcoin from 2011?

https://www.gwern.net/Bitcoin-is-Worse-is-Better




Lightly scanned the article. I dont criticize bitcoin for being imperfect, but for being useless as it is today.

Moving dirty money, or escaping capital controls is great, but still a very limited use case. Its really impractical to do any mundane thing. I.e. replacing credit cards and buying your coffee would be a massive human landmark event. But its not close to that, and there's no clear path to that.

So why would you spend 6k to hold this piece of land today, when that buys you a 3% secure yield or a many other investments with greater returns.




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