Hey I don't have the energy to write a long thread on why this current Bitcoin "rally," is not a real rally, so I'm going to lazily do this in one post:
* BTC is still a failed currency. No one buys anything with it. It's still slow and bad.
* The trading patterns are still weird. More whale and exchange nonsense.
* Anyone telling you to buy BTC now, probably lost a ton of money on NFTs, FTX, Luna/Terra, Axie, DAOs, or all of the above. Their judgement is bad.
@mekkaokereke Just because every single other time it was a pump and dump, surely that doesn't mean this time it's a pump and dump.
Surely this time it's different...
I wouldn’t personally say never, there’s been a lot of unbelievable turnarounds in the world of tech
However, a slim chance that it might one day be legit isn’t a reason to invest into it today
I'm not arguing with you on this.
Bitcoin can't even solve the "Amazon socks" problem. People's feet get cold in winter. People buy socks. One website (Amazon), owned by one company (Amazon), sells socks. Bitcoin struggles to handle the global transaction volume of socks on Amazon. Be serious. 🤡
Don't talk to me about lightning or L2. That's just admitting "Bitcoin is only fast if you don't use it."
One transaction uses enough electricity to power a Texas home for 1.5 months.🤡🤡
@zamallama There's enough written on this already that we don't have to have this debate again.
But hey, if you think all of us folks that have built planet scale transaction systems for decades are wrong, and that people like Elon and SBF are right, then buy Bitcoin! Hey, buy it on margin! I wish you luck!
It actually sounds like you are trying to argue with me as if I am a Bitcoin supporter
All I said was that I personally wouldn’t say it will >never< be a legitimate currency, because crazier things have happened
If you want to have the debate with someone I am not that person, I have nothing invested in Bitcoin and likely never will
@zamallama No, I am not saying you're a Bitcoin supporter.
I'm saying specifically what I said: That Bitcoin would never be a legitimate currency. Ever. Its design prevents it from ever being so.
You said, "I wouldn't say never," and I said, "I said what I said, and I'm not debating this."
Ah thank you for clarifying
In that case, I also said what I said, and I’m not debating this either
@mekkaokereke @zamallama The Amazon Socks thing is hilarious.
Thank you.
Here's the thing, folks.
is 99% of cryptocurrency uninformed and/or scammy bullshit? Yes.
But the tech *provably* works, and I've learned to ALWAYS bet on tech in the long run.
And alternative currencies are going to look better and better given this economy.
Get educated and consider trying it out. It ain't going away.
This is such a weird take because it's provably false today.
You may not *like* what it definitely already accomplishes, but you can't just say it's not functional; it's like saying "guns don't fire bullets"
I agree with everything you've said here, with the possible note that -- that "etc." in your post is working overtime. :)
Yup, cryptoCURRENCY isn't a great name for what we have here. But it's *already* something signficant.
Why do people post this quote as if it means anything? THIS LITERALLY DESCRIBES EVERY FINANCIAL INSTRUMENT
Which is why I didn't say the word "currency" and mostly agree that it doesn't make a good "currency."
There are other things related to money that you can exchange for money that aren't currencies.
mekka okereke 
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