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Response to ansible (Reply #11)

Mon Feb 8, 2021, 12:58 PM

38. "collective faith" is what gave value to every past bubble.

Bitcoin could not have been more perfectly designed to produce worthless bubbles if it had been overtly created for that explicit purpose, and that is indeed what it does. It inflicts numerous costs on society and has yet to provide a benefit except to crooks and gamblers. And it will eventually go the way of all bubbles, especially since quantum decryption is not far off. There are cryptocurrencies which have some level of security against quantum algorithms, but bitcoin is not one of them.

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