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In most cases the unwieldiness of a ton of gold compared to X number of crypto-coins serves as a superior security mechanism for a 'store of value.' A ton of g
by canoebuilder 9y ago
In most cases the unwieldiness of a ton of gold compared to X number of crypto-coins serves as a superior security mechanism for a 'store of value.'
A ton of gold exists in a single time and space, meaning security measures are highly localized and conveyance to another location requires a non-trivial energy expenditure.
The more or less "pure information" basis of crypto-currencies mean the security mechanisms surrounding them must be "global," they can be potentially accessed unauthorized by someone anywhere on the planet through means of social engineering, exploiting faulty code, or similar. And once accessed the "pure information" can vanish from the reach of the ostensible owner with just a few electrons cycling through a few circuits.
In fact what percentage of the total supply of bitcoin were acquired in just such a manner?