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Please avoid getting too wrapped up in the metaphor. You don't mine it, there's no TNT involved, that's just a word. And it may behave "like" gold in some res
by moxious 9y ago
Please avoid getting too wrapped up in the metaphor. You don't mine it, there's no TNT involved, that's just a word.
And it may behave "like" gold in some respects but in many other crucial ones it does not.
BTC is not a useful raw material in any industrial process. It requires a P2P network and extensive global infrastructure, so it won't still be sitting there inert in 1,000 years, when the Power is out, in a crisis. BTC can't be alloyed with other cryptocurrencies to produce other value added products.
You can't put BTC leaf on your fancy pastries. There are no other downstream businesses that specialize in assaying the purity of your bitcoin.