Politicians’ newfound love of crypto probably has more to do with a cynical bid for young voter support and Silicon Valley cash than a maturing of a financially perilous set of assets.
It means that despite being fifteen years old, it still takes more electricity for a single bitcoin transaction than to drive an electric SUV from Florida to California, cost per single transaction has still spiked over 50 USD twice in the last six months, and it remains too prone to wild inflation and deflation for any serious business to actually price anything in.
In other words, it has the same inherent value it always has, none at all.
Don’t be fooled by the 20000th round of “crypto is dead” articles.
I agree that BTC is trash but it’s still up 100% from last year.
The people who write these articles have no clue.
edit: The Brookings Institute lmao. Right-wing boomer nonsense.
What does it mean for bitcoin to double in value?
Has bitcon’s utility or usefulness doubled?
Or has bitcoin behaved as a highly volatile speculative asset?
It means that despite being fifteen years old, it still takes more electricity for a single bitcoin transaction than to drive an electric SUV from Florida to California, cost per single transaction has still spiked over 50 USD twice in the last six months, and it remains too prone to wild inflation and deflation for any serious business to actually price anything in.
In other words, it has the same inherent value it always has, none at all.