4 ms·
As a store of value, Bitcoin is 100% a play on trust. Bitcoin's scarcity is based on consensus-- in an entirely decentralized network no less! Gold's scarcity
by drtillberg 9y ago
As a store of value, Bitcoin is 100% a play on trust. Bitcoin's scarcity is based on consensus-- in an entirely decentralized network no less! Gold's scarcity is based on physical laws. I don't agree with Jamie Dimon much, but if folks think Bitcoin or any other cryptocurrency is digital "gold," well there are a lot of people buying on a mistaken premise.
- kindfellow92 9y agoMeh, this is essentially a consensus argument which falls flat because gold’s value is ultimately based on consensus.