> People on HN are smarter than me, and they all seem to hate bitcoin with passion, but I haven't yet understood why
"Hate" is a strong word, but I dislike Bitcoin because so much of its value doesn't come from utility, but from speculation. People rarely buy Bitcoin to actually use it, but instead because they hope/expect the price will go up. And that's what leads to cases like SBF.
> and understand that the dollar has no intrinsic value, either.
You need US dollars to pay US taxes and buy/sell into the world's largest consumer market. That's why there's a strong demand for dollars.
"Hate" is a strong word, but I dislike Bitcoin because so much of its value doesn't come from utility, but from speculation. People rarely buy Bitcoin to actually use it, but instead because they hope/expect the price will go up. And that's what leads to cases like SBF.
> and understand that the dollar has no intrinsic value, either.
You need US dollars to pay US taxes and buy/sell into the world's largest consumer market. That's why there's a strong demand for dollars.