So, my dad asked me today, "what value does Bitcoin even have? What is it used for...

So, my dad asked me today, "what value does Bitcoin even have? What is it used for? You're trading a virtual coin that has no use outside of being traded some more. Tell me, what use does Bitcoin have?"

...Honestly, I'm stumped. Any ideas?

It has no value it's just a meme used by pedos and junkies

Why would you trade something useful?

/ourcoin/

Historically deflationary store of value?

...

Um sweetie the point is to trade it some more, nobody can cash out

Its a representation of value, the same as money/cash.

Infact its a deflationary currency unlike USD. So you dont lose money by holding it.

Its essentially every Millennials way of saying fuck the Boomers economy cause they ruined it.

Once BTC is accepted by more than just gift card places and Overstock.com, that argument will fade.

Its no different than holding gold. Whats the point? Anyone who asks what the point of holding an asset that increases in value (Especially a global spread asset) is probably poor as dirt and works their ass off to keep up with their bills.

That it is a way of storing and sending value with trust outside of traditional, corrupt bank and payment services?

cost of mining it plays some part in it's value. But is it extremely overvalued right now? Of course. I don't think anyone is thinking otherwise.

tell him its digital gold
It is used to tore value
Anyone who bough bitcoin last year is sitting on 20x times their money

Tell him that it has value because people use it to buy drugs and child porn. Also that people in failing countries go to bitcoin to avoid government confiscation.

Honestly there is no real use. You can buy things on a few sites with it, but even then its speed and transaction fees make it too inefficient for that. Its only purpose is to buy it so you can hopefully sell it at a higher price. Like tulip bulbs.

a few years ago i would immediately say its cheaper than using credit card and paypal, but since the fees are up the ass now that argument kinda falls away unless you buy massive amounts or wait potentially forever
but yeah whats the point of having a paypal account? you buy stuff with it, why cant you use a credit card? because credit cards suck, his father or grandfather probably asked him the same, whats the point, son? just use a cheque!

son, cheques are not backed by anything except the trust you put in the person that gives it to you, cheques arent real money

back in my day we used to give cold coins to people on horses! back then we used real money, son. and it was fast, too.

It doesn't. Cryptocurrency is all just a meme. Only autists who defend it are the ones who dumped real money into it.

user, its the dollar of the crypto market. It's literally created its own economy. So nah your dad is wrong. It lets you buy assets in the crypto world so you can make more.

I use it to buy crack. Megalols.. nufss said

thats literally the same shit people said when the home computer came about.
who needs write letter, when you have a typewriter.
email wont catch on, not when you have fax
who needs to play video games,when you can go outside and do the real thing

>Be virtual goods seller
>Buyer pays, I give them item
>Buyer does a chargeback, claiming the transaction was unauthorized/they didn't receive the goods
>I lose my money and suffer a $20 chargeback fee because Paypal hates virtual goods
>Even if I win, I still have to spend hours building a case against the buyer

>Be virtual goods seller
>Buyer sends BTC, I give them item
>no need to worry about chargebacks

Of course, the buyer has to worry about this scenario:
>Be buyer
>Send BTC to seller
>Seller runs off with the BTC
>I lose my money

BTC has another feature to address that problem, though.
>Be seller
>Buyer asks me why he should trust me
>I show him my transaction history on the blockchain, showing that I've sold 20 BTC worth of goods and have hundreds of vouches
>Buyer googles my BTC address and sees that my record is clean
>Buyer sends BTC, I give them item

These uses may not be relevant to normalfags, but the internet spent many years without normalfag usage as well.

Wish there was a coin without a blockchain. Talk about a moon mission.