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Bitcoin is anchored in physics and math. And used by millions without western privileges.
by mantenpanther 5y ago
Bitcoin is anchored in physics and math. And used by millions without western privileges.
- mlac 5y agoHighway infrastructure is also anchored in physics and math. It doesn’t mean we should treat highways like a currency that should be purchased and traded. Starting a business is open for millions “without western privileges” - and stock is owning a business. Starting a profitable business that adds value (people are willing to pay you for a service) is a lot more useful to society than spinning up another coin that does nothing.
- throwthere 5y ago> Highway infrastructure is also anchored in physics and math. It doesn’t mean we should treat highways like a currency that should be purchased and traded. Clearly, the world needs highway-based NFTs. Knowing that their ephemeral infrastructure is represented on the blockchain, something that is permanent, will lead to engineers building safer bridges. It will encourage the development of new fields of engineering, perhaps subfields related to structures and others related to materials. Contrast that to the stock market, where companies sell ownership shares in their businesses tracked in ledgers maintained by western corporations. And some of the underlying businesses have no plans to ever to distribute cash to their stock owners-- look at Berkshire Hathaway! Look at Google! People buy and sell those shares only because the next person will buy them for more. It's a classic speculative investment, not like crypto which is backed by the full faith and power of NVIDIA. /s. Or is it?
- mantenpanther 5y agoA neutral, permissionless currency adds value.
- CabSauce 5y agoAt least until someone creates another one... and another one... and another one.
- aaaaaaaaata 5y agoBut there are tens of thousands now. The real value is in the consensus, which is gotten by having: Trust (longest chain) Technical security/other intangibles lowering risk Liquidity Not necessarily in that order for all people.
- ATsch 5y agoI think you'll find it rather hard to trade the abstract concept of physics and math for some food or shelter.
- SketchySeaBeast 5y agoJust ask Tesla.
- cmiles74 5y agoUS currency is backed by the government, a mortgage is backed by property. In my opinion, "physics and math" do not provide the same kind of underlying value as a government or real estate.
- aaaaaaaaata 5y agoThen why has no government currency ever been perpetually valuable?
- mlac 5y agoBitcoin will not be perpetually valuable. No cryptocurrency will be. Forever is a mighty long time.