> Some people shouldn't be handling hundreds of millions of USD.
Yes, but deterrents don't work if you don't expect to handle hundreds of millions. And I don't believe he did expect to handle hundreds of millions. Nobody did. Bitcoin just... did that.
> There are so many ponzi schemes in Bitcoin many of them actually advertise that they are ponzi schemes.
I think you misinterpreted what I'm saying. Of course people run schemes using bitcoin just as they run schemes using USD; when I said "no fraud in bitcoin", I mean in bitcoin itself, the blockchain, the protocol, the currency. Bitcoin is a currency, and like any currency, fraudsters can and will use it, that doesn't make bitcoin fraudulent.
> what makes you say that? I use bitcoin to conduct private transactions regularly and its pretty darn solid for that purpose. Doing such a transaction over the internet, before bitcoin, required you to use permissioned rails.
Just because it can be used like that doesn't mean it actually succeeded. The vast majority of Bitcoin is held as a speculative investment, and the deflationary aspects are a strong disincentive to regular circulation.
>> Bitcoin, or any cryptocurrency, is nothing of the sort. Far from it.
For some random guys on the internet. yes. Some other guys are using it without waiting for it to be everything the previous system had. (deferred payments etc.).
> I just named a rather massive one in my comment.
You named one that was envisioned by the creator(s) of Bitcoins 13 years ago and was subsequently abandoned. Today bitcoin is marketed as a store of value, not money. Also the idea that it is a P2P money without intermediaries is laughable. What are miners other than intermediaries in a transaction?
> I feel like the person you are replying to is going to take this discussion into the direction of bitcoin cash being the real bitcoin.
I could not care less about attempting to 'use' a cryptocurrency that is slower than VISA and as extremely volatile for merchants to use to accept payments with and is useless as 'digital gold'.
Let's keep the discussion to actual facts please.
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