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Someone just burned $8 million of bitcoin
(protos.com)
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this post was submitted on 26 May 2026
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So you claim bitcoin is a failure because it hasn’t already supplanted state mandated currencies? Bitcoin went online in 2009. Still so early on.
Yes, it has failed in its original claimed purpose, that's undeniable. Over the same time period even fucking Amazon gift cards have grown to be a better form of currency, even for anonymous crime, my personal former use case.
That's just a system failure no matter how much you like the idea of "what if money, but even easier to track, control, and steal once the feds woke up"
Bitcoin is easier to track, the ledger is public, but it isn’t easier to control or steal.
No, it hasn’t failed its original purpose. Bitcoin is the first currency of the modern era that the state hasn’t been able to destroy. That is an amazing achievement.