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> On the other hand, for btc to keep value, you need people to mine it from to the moment you buy it to the moment you sell it. That's not correct. Once you re
by csomar 6y ago
> On the other hand, for btc to keep value, you need people to mine it from to the moment you buy it to the moment you sell it.
That's not correct. Once you receive your transaction within a block, they are there forever assuming you keep a copy of that blockchain. If miners stop mining, you'll be able to mine yourself within 14 days with a regular computer.
- legolas2412 6y agoThe value of Bitcoin is not just the blockchain. It is the distributed consensus on it being the correct blockchain. So, Bitcoin relies on others believing that this version of the blockchain is authoritative. Nothing like this in gold. It is an atom which does not require any extra belief from the society.