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gold is a precious metal. bitcoin is a text file.
by stOneskull 10y ago
gold is a precious metal.
bitcoin is a text file.
- astrange 10y agoBitcoin is a share of a conversion from electricity to waste heat.
- kfrzcode 10y agoWhich ceases to exist entirely after a mega-solar-flare. Gold persists.
- Consultant32452 10y agoIf the mega solar flare is mega enough you might get a few extra gold atoms. Think of the inflation!
- astrange 10y agoUnless it also disables the security systems on your gold storage or erases your GLD shares or we forget we'd all agreed gold is valuable.
- shitgoose 10y agophysical, bitchez! (sorry, spend too much time on zerohedge...)
- wyager 10y agoIf there's a solar flare big enough to destroy every computer on earth, you won't have a chance to care about gold in the aftermath.
- deleted 10y ago[deleted]
- dnautics 10y agogold is a share of a conversion of energy to dug up earth, and sometimes nasty mercury tailings.
- jbmorgado 10y agoGold actually has practical applications. Just go to wikipedia and find out what part of the CPU of the computer you are using to write your comment upon is made of.
- gnaritas 10y agoThe price of gold doesn't come from it's practical applications, so that's hardly relevant. If gold were no longer hoarded by speculators as a store of value, its price would plummet massively as the practical application demands simply couldn't maintain its current speculative value. Bitcoin has practical applications as well, on the Internet as peer to peer cash. But like gold, it's value comes largely from speculators, not its practical applications.
- kolinko 10y agoa property ownership is also a text file
- timothycrosley 10y agoEhhh, I call BS. If for some reason all of a cities property records were lost, they would rebuild them via community testimony and consensus at worst case. Which clearly demonstrates it works in the opposite direction of what you are implying. Also property ownership tends to have inherit utility, something bit coin does not.
- nfbush 10y agoBitcoin has inherit utility in allowing immutable and globally accessible data storage, people assign the rest of the value to it. Just like property, except if people with bigger guns come it doesn't matter as it will become theirs if they want
- petre 10y agoIt's also highly mobile, unlike property. You can easily move more than 10k euros in BTC on a storage medium across borders without declaring anything.
- deleted 10y ago[deleted]
- saryant 10y agoA text file with the force of law behind it. Power changes with men with gens are empowered to enforce it.
- joshu 10y agoSo is your bank account.