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It's often just metonymy, just as your usage of "crypto" to refer to "cryptocurrency" is.
by brucephillips 9y ago
It's often just metonymy, just as your usage of "crypto" to refer to "cryptocurrency" is.
- rootusrootus 9y agoYes, that absolutely could explain it, except for one detail -- only bitcoin has an arbitrary 21 million coin limit. So making the argument that bitcoin is kinda like gold is implying that bitcoin is the only cryptocurrency. Is there a good argument here that first-mover advantage will be enough to ensure that bitcoin remains the only viable cryptocurrency? Because if not, then the $1T theoretical market value has to be split amongst all the players, and then the argument for a $25K BTC 'value' is pretty thin.
- brucephillips 9y agoI'm not sure, but I think it's possible that BTC runs away with it. The value of BTC, much like the value of gold, is due to network effects. That's the only reason AFAICT that gold is ~60x more valuable than silver.
- ximeng 9y agohttp://about.ag/debate.htm http://about.ag/debate.htm There’s lots of reasons