Bitcoin is taking centre stage as an economic protest.

[legiteum]

Whether people realize it or not, opting out of the old and traditional system is a political act. Even if someone buys an etf just for gains, they are still moving liquidity away from the banks and into a protocol that can't be devalued. It’s a silent protest that pays you to participate. But anyways I still think the traditional system should still continue never the less.

LOL. So you can fight the international banking system by... purchasing shares of an ETF which is traded on the NYSE using your Robinhood account? 

Oh yes, fight the Man! Protest!

Also, Bitcoin devalued by 29% in the last six months, so how do you figure it "cannot be devalued"? Nobody, except large underwater Bitcoin holders who are desperate, is going to believe that.

The president of the USA owns almost $1 billion in Bitcoin and is using the full power of the US government to pump Bitcoin as hard as he can. I seriously can't imagine anything more mainstream than that.

(Btw, have any of you contemplated what's going to happen when this extremely unpopular US president and his party is voted out of office? What then?)

[Lida93]

For someone in a relatively stable country, Bitcoin may look like a casino chip with better branding. For someone watching their local currency get cooked slowly in the inflation oven, it can look more like a lifeboat. Maybe not a perfect lifeboat, but still an exit.

So I wouldn't call Bitcoin just a protest, and I wouldn't call it just a meme investment either.

Definitely a life boat for most of those of both the first and third world who knows and understands how bitcoin works, but most especially the third world where most countries economy is apparently shattered that it's currency value doesn't seem to be equating daily effort as it rapidly devalues. In this, bitcoin doesn't merely serve as a protest persay but as an authentic alternative to escape the lost of value created by the economic inflation from wrong economic policies by those said to be in authority. I bet that quite a lot of people today who still ignore bitcoin would regret doing so in a decade from now because the economy doesn't seem to get repaired and by then bitcoin would have doubled in the price value.

[legiteum]

For someone in a relatively stable country, Bitcoin may look like a casino chip with better branding. For someone watching their local currency get cooked slowly in the inflation oven, it can look more like a lifeboat. Maybe not a perfect lifeboat, but still an exit.

So I wouldn't call Bitcoin just a protest, and I wouldn't call it just a meme investment either.

Definitely a life boat for most of those of both the first and third world who knows and understands how bitcoin works, but most especially the third world where most countries economy is apparently shattered that it's currency value doesn't seem to be equating daily effort as it rapidly devalues. In this, bitcoin doesn't merely serve as a protest persay but as an authentic alternative to escape the lost of value created by the economic inflation from wrong economic policies by those said to be in authority. I bet that quite a lot of people today who still ignore bitcoin would regret doing so in a decade from now because the economy doesn't seem to get repaired and by then bitcoin would have doubled in the price value.

I agree that a digital currency can be a lifeline in many countries, and 15 years ago you would be right in this assessment about Bitcoin itself.

But today, Bitcoin is not the only product available that solves this problem, and it's not even the best one--in fact, it's one of the worst. The best products to use for getting around dodgy local unstable currencies is fast, efficient, relatively stable stablecoins. Doing business with a currency that can fluctuate +/- 10% in a few days is nearly impossible. Bitcoin's transaction fees and settlement times are ridiculous.

Bitcoin's only viable purpose today is as a meme investment instrument. You buy Bitcoin in order to sell it for more later (you hope). If you want utility, there are far better products and Bitcoin is obsolete for that.

[BlackHatCoiner]

The best products to use for getting around dodgy local unstable currencies is fast, efficient, relatively stable stablecoins.

Stablecoins are a fantastic idea for making transactions using a fiat currency that is not devalued at the same pace as your local shitcoin, but a stablecoin is absolutely a terrible idea if you want to save your purchasing power for 10 years into the future.

Bitcoin is not competing against Tether or Revolut for making seamless payments. It is competing against the US dollar, gold, stocks and real estate. It is creating a lucrative opportunity for people who invest into all of those things, not necessarily because they believe in them, but to avoid losing their savings due to horrific decisions made by their local central bank.

[SquirrelJulietGarden]

I agree that a digital currency can be a lifeline in many countries, and 15 years ago you would be right in this assessment about Bitcoin itself.

But today, Bitcoin is not the only product available that solves this problem, and it's not even the best one--in fact, it's one of the worst. The best products to use for getting around dodgy local unstable currencies is fast, efficient, relatively stable stablecoins. Doing business with a currency that can fluctuate +/- 10% in a few days is nearly impossible. Bitcoin's transaction fees and settlement times are ridiculous.

Bitcoin's only viable purpose today[/is to] is a meme investment instrument. You buy Bitcoin in order to sell it for more later (you hope). If you want utility, there are far better products and Bitcoin is obsolete for that.

How are stable coins able to compare with Bitcoin in security, full control, no censorship, decentralization?
They are worse than Bitcoin and if they have depegs, they are the worst choices. The challenge for stablecoin users is they never know when a stable coin depegs like Terra UST stablecoin years ago.

With stablecoins, even users store these tokens in non custodial wallets, their stablecoin funds can be frozen by stablecoin companies under legal requests from governments.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[legiteum]

I agree that a digital currency can be a lifeline in many countries, and 15 years ago you would be right in this assessment about Bitcoin itself.

But today, Bitcoin is not the only product available that solves this problem, and it's not even the best one--in fact, it's one of the worst. The best products to use for getting around dodgy local unstable currencies is fast, efficient, relatively stable stablecoins. Doing business with a currency that can fluctuate +/- 10% in a few days is nearly impossible. Bitcoin's transaction fees and settlement times are ridiculous.

Bitcoin's only viable purpose today[/is to] is a meme investment instrument. You buy Bitcoin in order to sell it for more later (you hope). If you want utility, there are far better products and Bitcoin is obsolete for that.

How are stable coins able to compare with Bitcoin in security, full control, no censorship, decentralization?
They are worse than Bitcoin and if they have depegs, they are the worst choices. The challenge for stablecoin users is they never know when a stable coin depegs like Terra UST stablecoin years ago.

Yes, years ago. Give me a break. It's like saying you shouldn't use the Internet at all because, hey, the telecom companies sometimes do bad things. Or that you should never fly on an airplane because there's a million in one chance it might crash on you.

Like it or not, or world depends on companies that build up trust among their users. Sometimes they fail, and the market punishes them, but most don't because they don't want to be punished. And no investor in Bitcoin is immune to this since you depend on thousands of companies every time you make a Bitcoin purchase.

With stablecoins, even users store these tokens in non custodial wallets, their stablecoin funds can be frozen by stablecoin companies under legal requests from governments.

If the government is after you, to the point where they are freezing your assets, Bitcoin isn't going to help you nor is anything else. If the government isn't after you, then doing things the normal way works just fine.

Maybe that's why stablecoins have ~1000x the daily volume that Bitcoin does?