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I wrote cryptocurrency mine, not Bitcoin mine. Cryptocurrencies as a whole are not scarce, unlike gold. Thus, they are not a substitute for gold.
by dullgiulio 9y ago
I wrote cryptocurrency mine, not Bitcoin mine.
Cryptocurrencies as a whole are not scarce, unlike gold. Thus, they are not a substitute for gold.
- ThomPete 9y agoThat doesn't change anything. The focus of this discussion is whether bitcoin is like gold (i.e. does it have properties like gold). Bitcoins price is not based on how many cryptocurrency mines you can open. If that was the case bitcoins price would have gone down not up. And no one is claiming that crypto coins are substituting gold. No need for strawmen.