For all the nocoiners on HN (there are many) - is there a price at which you will admit bitcoin is successful? And if not, what is the reasoning behind why you will forever see bitcoin as unsuccessful? Thank you
I see very few cases where bitcoin has done any good in the world besides transferring wealth from the uninformed to the technically savvy and/or those uninhibited by ethics.
Bitcoin was created with these libertarian utopic ideals in mind, but I think it has shown that the landscape of anarcho-capitalism in practice is a nasty, brutish place.
Bitcoin has been largely ignored by governments, but as it grows it won't be and it just takes one stroke of a pen for them to make it illegal. So, even if it gets to a trillion it'll still be a risky asset.
There will be people who find success in trading it. If it keeps getting bigger, institutional investors and governments may play. But does that make Bitcoin itself a success? Or is it just another playground for rich people to get richer?
If we consider it a speculative investment, then, sure, at this point in time, BTC looks like a solid investment! BTC investments have funded a number of my vacations :D
But, if we consider BTC a form of currency, I would say it is a total failure given its wild fluctuations in value.
Curious what others think? Want to change my mind!
I'd consider it successful if I could pay with it in physical shops, or at least in one of major online shops (let's say Amazon).
What would change my opinion is if usage of bitcoin as a currency or for some other application goes very high. i.e the utility rather than just speculation by people wanting to make quick buck.
> For all the non-TSLA holders on HN (there are many) - is there a price at which you will admit TSLA is successful? And if not, what is the reasoning behind why you will forever see TSLA as unsuccessful? Thank you