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Common now, gold isn't valuable because of its conductive properties, and nobody uses it to fill teeth anymore. Gold is valuable, because a) There's a fixed s
by tabs_masterrace 9y ago
Common now, gold isn't valuable because of its conductive properties, and nobody uses it to fill teeth anymore.
Gold is valuable, because
a) There's a fixed supply.
b) The material itself is proof that you actually posses it.
c) It's durable and easily quantifiable.
It's a store of value, that cannot be overruled, either you have it or not, that simple. There is nothing quite like it, and that's why governments are hoarding gold reserve in underground basements.
Bitcoin takes this concept even further and ensures that your coins cannot be forcefully taken from you (given you store them right ofc). They are essentially just a piece of information, and that is enough to universally validate your ownership, without a doubt.
There is immense value in the technology, I'm sure its here to stay. Again, maybe not the current iteration, but whatever Bitcoin evolution we end up with, it will very likely come out of this blockchain.
But we will see. Maybe it IS gonna die tomorrow after all.
- simen 9y agoEven if bitcoin for some reason disappears (and I don't believe the doomsday scenario is anywhere in the near future), the blockchain technology on which it is built is revolutionary, and the financial sector is researching it and developing new applications at a furious pace. Whatever the future of bitcoin itself and whoever he is, "Satoshi Nakamoto" will go down in history as a great inventor.