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Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an e

Scarcity doesn’t exist because anyone can start their own blockchain and pretty much anyone who can has. There’s nothing preventing anyone from relaunching an exact duplicate of bitcoin with all of its strengths and weaknesses at any time other than inertia.

ThomPete 9y ago
You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself. You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same. Only bitcoin is bitcoin, because only bitcoins has the history they have.
- ufo 9y ago
  Bitcoin forks like Bitcoin Cash and Bitcoin Gold use the same block chain history as Bitcoin.
  - ThomPete 9y ago
    You are also missing the point here. You can't get the same for bitcoin cash as you can for a bitcoin. So no they don't use or have the same history after the fork and they aren't the same which is why one is 4 times more worth than the other.
    - ufo 9y ago
      Of course you cant get the same for them! It is expected that a fork that creates new coins out of thin air will lead to cheaper coins.
      - ThomPete 9y ago
        And so scarcity still exists which was the original point I made and which was being challenged. Each coin has a unique history. You can create as many forks of bitcoin as you want it doesn't change the fact that there is only one bitcoin.
stale2002 9y ago
I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally. Does that mean that paper money isn't scarce? Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.
- QAPereo 9y ago
  That would be legal, but critically attempting to redeem them for current USD would be a crime. So no... not the same.
  - stale2002 9y ago
    It is exactly the same. First of all, I COULD sell my stale2002 dollars for real dollars, at market price, as long as I am not lying about what I am selling. The price of my sale2002 dollars would probably be ~0, but I am still not breaking the law. If you fork Bitcoin, you can't redeemed your forked coins for real Bitcoin, either. It would be a completely new and different currency. The same exact thing is the case with my new paper bills.
    - deleted 9y ago
      [deleted]
oculusthrift 9y ago
right and anyone can start their own twitter too

ThomPete 9y ago

You are missing the point here. It's about the history of the individual coin not about the technical properties of coin in itself. You can build as many cryptocurrencies as you want to. They aren't bitcoin as they don't have the history of bitcoin which means that they aren't the same. Only bitcoin is bitcoin, because only bitcoins has the history they have.

ufo 9y ago
Bitcoin forks like Bitcoin Cash and Bitcoin Gold use the same block chain history as Bitcoin.
- ThomPete 9y ago
  You are also missing the point here. You can't get the same for bitcoin cash as you can for a bitcoin. So no they don't use or have the same history after the fork and they aren't the same which is why one is 4 times more worth than the other.
  - ufo 9y ago
    Of course you cant get the same for them! It is expected that a fork that creates new coins out of thin air will lead to cheaper coins.
    - ThomPete 9y ago
      And so scarcity still exists which was the original point I made and which was being challenged. Each coin has a unique history. You can create as many forks of bitcoin as you want it doesn't change the fact that there is only one bitcoin.

stale2002 9y ago

I can go get a printer, and start printing stale2002 dollars, right now, perfectly legally. Does that mean that paper money isn't scarce? Dollar bills, of course, are protected from counterfeiting, in the same way that bitcoins are.

QAPereo 9y ago
That would be legal, but critically attempting to redeem them for current USD would be a crime. So no... not the same.
- stale2002 9y ago
  It is exactly the same. First of all, I COULD sell my stale2002 dollars for real dollars, at market price, as long as I am not lying about what I am selling. The price of my sale2002 dollars would probably be ~0, but I am still not breaking the law. If you fork Bitcoin, you can't redeemed your forked coins for real Bitcoin, either. It would be a completely new and different currency. The same exact thing is the case with my new paper bills.
  - deleted 9y ago
    [deleted]

oculusthrift 9y ago

right and anyone can start their own twitter too