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> Serious question, how is Bitcoin fundamentally different from gold? So there are a handful of assets (gold, silver, jewels; generally stuff you'd expect to f
by vec 9y ago
> Serious question, how is Bitcoin fundamentally different from gold?
So there are a handful of assets (gold, silver, jewels; generally stuff you'd expect to find in your average pulp fantasy treasure chest) that are essentially ancient speculation bubbles that never popped. They're valuable because there valuable. The optimist view of Bitcoin is that it's going to be the newest member of that august club.
The bad news is that most of the list predates money as we understand it. It's not entirely clear if new gold-class assets even can be created anymore.
The worse news is that the list is getting shorter. Aluminum used to be the stuff of kings, now we make candy bar wrappers out of it. Indigo, spices, pearls, turquoise. They all spent centuries as treasures until they weren't. Diamonds are starting to fall off, although it'll probably take a few decades.
All of these were once extremely scarce and became a lot more common for one reason or another. And Bitcoin itself is limited, but any idiot can fork off their own altcoin.
It's possible that in a few hundred years a Bitcoin will be just as much "treasure" as a bar of gold, but that's still far from a certain thing.