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The whitepaper only likens Bitcoin to gold in regards to the emission rate, not to it's supposed usage as "digital gold". In fact the whitepaper even opens wit
by lawn 6y ago
The whitepaper only likens Bitcoin to gold in regards to the emission rate, not to it's supposed usage as "digital gold".
In fact the whitepaper even opens with describing Bitcoin's usage for commerce. The very first paragraph in the introduction!
The narrative has indeed changed to "digital gold" after it's made abundantly clear that Bitcoin is no longer suitable for commerce.
- shuntress 6y agoIt is not a coincidence that gold mining was chosen as the analogy for new coins. The emission of new bit coins following the "mining" of new blocks is like the minting of new gold coins following the mining of raw gold. Because bitcoins are like gold coins. I agree that neither gold nor bitcoin are suitable for commerce. But the narrative around and apparent intent behind bitcoin from in the beginning was "It is digital currency. It works like gold".