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What good are your altcoins when the developers/miners give up on the project? A bar of gold is always a bar of gold, no matter what the price of gold is.
by fnovd 9y ago
What good are your altcoins when the developers/miners give up on the project? A bar of gold is always a bar of gold, no matter what the price of gold is.
- mdns33 9y agoyou dont have a clue. do you.
- dang 9y agoWe've banned this account for violating the site guidelines. If you don't want to be banned on HN, you're welcome to email hn@ycombinator.com and give us reason to believe that you'll follow the rules in the future.
- quickthrower2 9y agoA bar of gold is pretty useless though.
- smcl 9y agoEhhh kinda. I think the point is that gold has been used as a means of exchange for centuries, so even if you bought at the peak of a gold-price boom and it crashed you could still hang onto it and be reasonably sure that you could sell it once things recover. We can't really say the same for BTC, ETH, dogecoin, etc
- patrickg_zill 9y agoThere are both industrial and decorative uses for gold, and always will be. Bitcoin could hypothetically be replaced by Dogecoin and bitcoin would have no value.
- quickthrower2 9y agoGold can be replaced by other metals.
- sumedh 9y agoNot in India, we are the largest importers of Gold.
- quickthrower2 9y agoThat's a tautological argument though. It's useful because we import it.
- sumedh 9y agoNo we import it because its useful. Indians think gold is a safe haven because we consider it as an investment and of course most Indian women want to put on gold bling during marriages and festivals.
- placeybordeaux 9y ago> A bar of gold is always a bar of gold, no matter what the price of gold is. A cryptotoken is still a cryptotoken as long as the network is propagating tx & blocks. The whole point of them is that they continue to function regardless of if the "developer" is around.