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You do know where gold comes from, right? From real, physical mines. It's not like you can materialize it out of thin air either (well, strictly speaking, you c
by mynameisvlad 11y ago
You do know where gold comes from, right? From real, physical mines. It's not like you can materialize it out of thin air either (well, strictly speaking, you can, but it's not feasible currently) and there's a limited supply; however much is in the earth.
- morgante 11y agoUh, yes I know that. My core point is that Bitcoin and gold are equally rare, not that gold is somehow not rare. Bitcoin might be considered "rarer" to the extent that the rate is pretty much fixed. It's not trivial to double the overall mining rate, whereas gold mines could substantially ratchet up production if they wanted to. (If a gold miner increases his mining rate, it doesn't affect the rate of other miners. But if a bitcoin miner suddenly brings a lot more computing capacity online, it's going to decrease the mining rate of other miners.)