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Yea, but if I have a lot of gold I don't have to worry that another, slightly different version of the metal is going to show up tomorrow and take away all of t
by pyrophane 10y ago
Yea, but if I have a lot of gold I don't have to worry that another, slightly different version of the metal is going to show up tomorrow and take away all of the value of my gold.
With Bitcoin however, assuming I believe that unregulated digital currencies are valuable, I'm still left with the question 'why is this one particularly valuable?'
The answers typically given include market adoption, support from companies, current value, and name recognition. These things have value, but none of them are intrinsic to bitcoin, and are all subject to rapid change.
For that reason, I don't consider bitcoin to be in any way 'stable,' especially since most of its value is driven by speculative investment rather than actual utility.