Comments by "k98killer" (@k98killer) on "Why Digital Currencies Have No Future" video.

  1. I appreciate your concerns, but there are several issues with this analysis: 1) Bitcoin transactions are completely transparent. Sats can be traced as they fliw from address to address. That's the point. Fiat is better for criminal use and far exceeds Bitcoin use for this purpose because cash is untraceable. Bitcoin is also useless for money laundering because it can be easily traced, so fiat once again is more common and useful in this regard. 2) The existence of shitcoins is a temporary phenomenon. Bitcoin eventually absorbs all value from all shitcoins. 3) The industrial utility of a commodity is inverseky proportional to its monetary premium. The ideal money has no industrial utility. Compare silver to gold: gold is practically useless by comparison, yet it continues to demonetize silver decade after decade, century after century, well in excess of the ratios of both stock and flow. Bitcoin has practically no industrial utility and can be teleported around the world at a small fraction of the cost necessary to transact in metals, so it is thus an ideal commodity money.
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  2. Bitcoin transactions are totally transparent. Total transparency of transactions and the absolute sovereignty over one's money are the main points, with the near-perfectly inelastic supply being an additional feature to protect against devaluation.
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  3. I disagree with a number of points, but at least nobody is saying anything about "intrinsic balue", which doesn't exist, so that's a plus.
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  4.  @EconLessons  ah, like the OpenDime. I suppose that is true.
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  5. FedNOW is just a real time net settlement system
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