What, exactly, is it supposed to be good for? Nobody really needs another way to bet on tech stocks. You can … just bet on tech stocks for that. Unlike the Ethereum network, meanwhile, Bitcoin isn’t widely thought of as a useful platform for advanced financial services. One potential answer is crime—crypto is the preferred payment method for hackers who perpetrate ransomware attacks—but that doesn’t exactly bode well for Bitcoin’s long-term future. So if it isn’t a currency, isn’t a gold substitute, and isn’t even a very good way to diversify your portfolio, what exactly is its purpose? As far as I can tell, other than buying some drugs online, the answer is absolutely nothing.
Eulogy made by Jordan Weissmann