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Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B

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189 points aorloff | 1 comments | 04 Jul 25 18:41 UTC | HN request time: 0.211s | source
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Synaesthesia ◴[05 Jul 25 05:50 UTC] No.44470362[source]▶
I was also around when bitcoin just started out. Many people wanted it to be a global revolution in finance.

But instead it turned into a game of "hodl" to get rich.

Scams were openly perpetrated in the forums.

I became completely disillusioned. What exactly does bitcoin offer the world today?

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ducksinhats ◴[05 Jul 25 08:54 UTC] No.44471196[source]▶
>What exactly does bitcoin offer the world today?

I can tell you down to the day how many bitcoin there will be decades from now.

Can you do the same for any fiat currency for next week?

It offers stability and a mathematical escape from very fallible humans controlling monetary systems.

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1. wqaatwt ◴[05 Jul 25 15:57 UTC] No.44473610[source]▶
> stability

That’s the opposite of stability unless you have an entirely static economy with no growth.

Adopting an extremely deflationary asset as a “currency” is one way to get the no growth part I suppose. It certainly wouldn’t be stable.

We’ve (well some, anyway..) learnt that lesson with the gold standard and permanent boom and bust cycles prior to the 1930s. It was anything but stable in the short/medium term.