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a decentralized, unseizable, cross-border, deflationary store of value. it's next-gen gold.
by sxv 9y ago
a decentralized, unseizable, cross-border, deflationary store of value. it's next-gen gold.
- noitsnot 9y agounstable and unusable. next-gen pyramid scheme
- koonsolo 9y agoI sure hope so for your sake, because if the real bubble is fiat money, and you have 0 cryptocurrency, you are basically screwed.
- rebuilder 9y agoIf it comes to pass that "Not having crypto" = "screwed", then the chaos will be such that everyone's screwed, anyway.
- koonsolo 9y agoDon't worry, people in hyperinflation countries also survive(d). So no need to worry. As long as you have trust in your government for making the money, and the banks for multiplying it, you have nothing to worry about.
- deleted 9y ago[deleted]
- deleted 9y ago[deleted]
- qq66 9y agoGold wouldn't have this role if there was not substantial consumer and industrial demand for it.
- solotronics 9y agoBitcoin wouldn't have any value if there wasn't demand for it.
- koolba 9y agoIn the short term price and value don't have to align.
- solotronics 9y agoBitcoin has existed for 9 years. While you are waiting we are reinventing how money works.
- deleted 9y ago[deleted]
- ericb 9y agoThe portion of gold's market cap attributable to consumer and industrial demand is miniscule compared to the portion attributable to its wealth protection function. Bitcoin is a better mousetrap for that use-case and the market is figuring that out. The market's decision about what to use as a store of value is a market-wide Schelling point decision based not around "what asset has underlying value" as any underlying value is quickly dwarfed by the magnitude of the value that needs to be stored, but instead the Schelling point decision is based on what asset has the best properties for money. If you look at what has been money in the past, you'll see examples (like giant stones) that were clearly not based on underlying industrial demand. https://en.wikipedia.org/wiki/Focal_point_(game_theory) https://en.wikipedia.org/wiki/Focal_point_(game_theory)