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There's nothing inherent to anything that says that anything must hold value.
by chocolatebunny 9y ago
There's nothing inherent to anything that says that anything must hold value.
- JumpCrisscross 9y ago> There's nothing inherent to anything that says that anything must hold value Yet you will find claims, on this thread, that Bitcoin becoming worthless is not possible.
- adamnemecek 9y agoI'm not saying it's not possible, like that the possibility is zero, all I'm saying is that it's not that much more likely that the same happening with other things. And like Bitcoin is actually resistant to some of the factors that could make other things go to zero. All I'm saying, there's a little too much "BTC will be zero, I was it in a Hollywood movie" and not enough of "BTC will go to zero if the following scenarios happened. It will go to the moon if these happened". I wont see these since these don't go with the preconceived notions and one might actually have to understand "economics of online", international relations, cryptography, networking and like so much other shit. The people who I think are qualified to write about crypto is maybe Satoshi Nakamoto but even he didn't quite nail all of it.
- prostoalex 9y agoIt’s not about holding, it’s about backstop. A company’s stock (or bond) is a right to get some compensation in case of dissolution, bankruptcy, or liquidation sale. A precious metal like gold still has a backstop value - it can be sold to electronics manufacturers to make those beautiful gold-plated audio cables. Diamonds have a backstop value of being used in boring and drilling. Vacated real estate can be converted to other uses. All of those assets (when owned outright and not pledged) are unlikely to go to $0.