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URL:  https://boards.fool.com/when-fb-wants-it-to-use-it-to-transfer-money-you-34221760.aspx

Subject:  Re: OT govt. debt Date:  6/2/2019  10:27 PM
Author:  blm Number:  274256 of 275366

When FB wants it to use it to transfer money, you can be sure BTC will participate in one form or the other.

I can? I'm actually pretty sure of the opposite. The BTC blockchain is too slow and expensive (even with hacks like Lightning) for the billions of tiny payments Facebook wants to facilitate.

It gives some legitimacy to BTC as use as a currency, doesn't it?

No, it points out the flaws in BTC as a currency, which is slow, expensive, extremely volatile, and deflationary (and of course a ridiculous waster of energy). If BTC was such a great currency, Facebook would just use it as is, but they're not, they're developing their own.

Back to MI, my last month's came in at -9%. What about yours?

I'd have to do some spreadsheet work to figure it out exactly because I normally don't care about a month's performance, but eyeballing it, it looks like two screens down ~10%, two screens up a little less, so maybe down 4 or 5%. But, who cares? It's a month. If you're going to go with what performed well last month, why not XRX, which was up 68.83% in May (and I could only find top performers for the S&P 500, I'm sure there were non-S&P 500 stocks that went up much more in the month). And if you're cherry picking dates, how about the year starting 2017/12/16, where BTC lost 83% (what do you think all those millennials begging to have BTC in their portfolios would do faced with an 83% loss?)

Like I said, short-term, money can be made (and lost!) from trading cryptocurrency, and long term cryptocurrency will have a multitude of uses, but I don't see BTC surviving longer term in any significant fashion. It's kind of like the first (or maybe second or third being BTC isn't the first cryptocurrency) personal computer. It was an awesome achievement for it's time, it should be fondly remembered, but you aren't going to run the global financial system on it.

Brian
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