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What makes it so that Bitcoin will be the medium to send that wealth and not another coin if Bitcoin’s value is too volatile? Given you can have an infinite nu
by ec109685 9y ago
What makes it so that Bitcoin will be the medium to send that wealth and not another coin if Bitcoin’s value is too volatile?
Given you can have an infinite number of crypto currencies, should one necessarily dominate indefinitely?
- adamnemecek 9y agoThe whole transaction can happen in a matter of hours tho. Bitcoin isn't that volatile. And you have to realize that is a means where there was previously none. Like it's not like the people doing this might have that many options. That being said, I've also heard of western companies using Bitcoin to transfer money cause it's cheaper than via bank.
- juanmirocks 9y agoDoesn’t have to be Bitcoin, and, I assume, Buffet doesn’t mean it either explicitly. Often Bitcoin in many contexts in understood as a synonym of this new digital money.
- SkyMarshal 9y agoPower law/positive feedback/winner take all dynamics make it likely there will be one or a few dominant ones and a lot of would-be's. Bitcoin has maintained the first mover advantage as well as the strongest engineering community thus far, so it will likely be one of those.