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Comment by wolco2 | Hacker News Reader

The value of a bitcoin is the rarity of owning a coin is limited and the way it works opens up transactions globally. The price is the market demand.

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oooh the rarity of owning a some digital magic beans, right, thanks I'll pass.

That's alright, there is no coercion to use BTC.

I have no idea what that statement is supposed to mean or prove lol.

Nothing, just a polite way of responding "nobody cares" to "thanks I'll pass."

Are they magic beans or just beans?

A bitcoin address gives you a unique global address decentralizated that funds can be sent to. There is utility to that function.

Using your description the internet is a magic place faeries built that provides no usefulness because it's virtual.

No, Bitcoin provides no value because it's bad at everything it tries to be. It's a bad store of value (-86% swings 3x in the last few years), it's a bad currency (7tx/sec) and it's bad for the environment (as much power consumption as Chile).

The internet provides utility. Bitcoin provides speculation and crime.

He maybe bad at what you believe it tries to be, and still be useful. And hence its price.

>Bitcoin provides speculation and crime.

Everything valuable can become a tool, or a reason for criminal activity.

It's a bad store of value (-86% swings 3x in the last few years), it's a bad currency (7tx/sec)

Bitcoin is the best performing asset of the past years compared to stocks, gold, commodities, etc.

"Magic beans" is something you can say about majority of payment tokens humanity has been using. However, once enough people agree they are good for exchange they become good for exchange.

Then you can say the exact same shit about American dollars.

The rarity of owning some paper with ink on it!

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