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Also if anything is a digital beanie baby then so is Bitcoin, what’s the difference?
by dools 6y ago
Also if anything is a digital beanie baby then so is Bitcoin, what’s the difference?
- deleted 6y ago[deleted]
- bob33212 6y agoIt is permissionless. You can transfer BTC without a bank or eBay or the postal service being involved. It is the best way to buy LSD from a stranger. So it has some value because of that. Similar to rare wine, most of the price is due today to speculation and asset diversification, and rich hobbiests.
- dools 6y agoYou can transfer an NFT to someone else exactly the same. It's just that someone has made a real world distinction between 2 distinct NFTs, like if someone found that a particular coin's hash spelled out "Jesus will rise again" in base64. I agree re: rare wine and rich hobbyists. Bitcoin's value is much the same, although without the wine. Everything Seth is saying about NFTs is true for every crypto coin.
- aabhay 6y agoThere’s a limited supply of Bitcoin
- dools 6y agoBut there's no limited supply of digital coins. I could make one right now, and owning Bitcoin is no different from owning my one except that speculators place more value on Bitcoin than my unknown currency. Everything Seth said about NFTs is true for all crypto coins.
- meowface 6y agoYou're not wrong, but there can be more than one thing playing such a role. Bitcoin is Beanie Babies, Ethereum is a varied ecosystem of pet rocks, Monero is Pokemon cards with traces of white powder. Can't hurt to diversify your speculation.