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So BTC is more like gold then, but with "fiat" value. It's an amazing experiment from computational/cryptographic point of view for sure. The greedy madness aro
by bitL 9y ago
So BTC is more like gold then, but with "fiat" value. It's an amazing experiment from computational/cryptographic point of view for sure. The greedy madness around it will cause a lot of troubles though; I've heard people taking 2nd mortgages and going heavily in debt to buy BTCs...
- sp821543 9y agoExactly. Nobody complains about the transaction capacity of gold. Bitcoin is a store of value - especially useful if our financial system sours again.
- hackernudes 9y agoGold is hard to transact with due to physics, but ideally a digital currency should be capable of micro-transactions. Here is a quote from the bitcoin.pdf white paper: The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions... If your vision of the future of Bitcoin is simply "a store of value" then I think you are missing out. There is a lot more value to disrupt by making transactions more efficient, and I hope the Bitcoin of the future will evolve to tackle this problem.