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And why not? What backs gold? It is more durable than tulip petals The more people buy Bitcoin as reserves the more it IS reserves. It is a network effect, ma
by EGreg 6y ago
And why not?
What backs gold? It is more durable than tulip petals
The more people buy Bitcoin as reserves the more it IS reserves. It is a network effect, man.
That’s how languages and cultures work too.
- Wowfunhappy 6y agoBitcoin is barely two decades old, whereas gold has been used for centuries as a way to means of storing wealth. Gold was literally used as currency for much of that time, and today the price of gold is far more stable than Bitcoin. None of that means Bitcoin couldn't be the next gold, I just think the odds are overwhelmingly stacked against it.