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In the past, I've thought of bitcoin as worthless hype but the persistence is impressive. I mean bitcoin just doesn't represent anything and can't be used much,
by LeanderK 5y ago
In the past, I've thought of bitcoin as worthless hype but the persistence is impressive. I mean bitcoin just doesn't represent anything and can't be used much, it can just go out in flames and nobody would step up to help those poor crypto-holders. But thinking about other things like gold. Nobody uses gold to pay and while it's used as a resources, people who invest in gold just trust gold to be valuable. Maybe crypto is like gold, it passed the critical mass of people thinking it's valuable and now it stays valuable. It will go up, it will go down, like gold. You don't buy gold to use it, it's just to park some money in something you trust.
- herbturbo 5y agoDifference is that gold is useful/desirable in of itself. That's why it gained value in the first place.
- kkjjkgjjgg 5y agoIt's not just people thinking it's valuable, it is people wanting it to be valuable.