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>the rules are completely different now because magic. Currency that isnt controlled by any government is different. Previously that was limited to gold only.
by mkirklions 8y ago
>the rules are completely different now because magic.
Currency that isnt controlled by any government is different. Previously that was limited to gold only. Gold was hard to move and expensive to keep safe. Bitcoin can be sent for free using exchanges or on a piece of paper or about 1000 other ways.
Easy to move gold is almost magic.
- acdha 8y ago> Bitcoin can be sent for free using exchanges or on a piece of paper or about 1000 other ways. What about the transaction fees? Someone has to pay for all of the mining hardware and electricity.
- mkirklions 8y agoYou dont need to use on-chain for bitcoin transactions.
- acdha 8y agoSo we’re back to using a federated model with most people using trusted third parties and hoping there are enough laws and regulatory oversight to prevent them from abusing that trust? This sounds oddly familiar…
- mkirklions 8y agoFor 2 dollar transactions at Taco Bell and giving petty money to friends? But even if we are back to that model, it still uses ultra rare BTC where there are 21,000,000 BTC ever ever ever. The US currency just keeps inflating.