4 ms·
Most of the other things you mentioned are collectibles. They're either rare, non-fungible or completely one-of-a-kind and therefore fought over in the niche m
by nly 5y ago
Most of the other things you mentioned are collectibles. They're either rare, non-fungible or completely one-of-a-kind and therefore fought over in the niche markets in which they trade.
Gold is a commodity with genuine industrial uses, and ingrained appeal to humans through thousands of years of being adorned and traded as jewelry. Sure, it's been diminished, we have so many materials now that can be used industrially and fashioned in to shiny trinkets, but comparing it to a completely synthetic, abstract instrument like Bitcoin is a bit disingenuous.
I definitely think there's room in the world for a completely decentralised peer to peer digital cash equivalent, but I think it remains to be seen how valuable everyday people in this world consider this utility.
- paxys 5y agoThat is circular reasoning. Bitcoin is also a collectable, with a fixed number of them (21 million) out there to collect. Every investment we are talking about is only rare because the community that participates in it has decided they are rare. Otherwise there is nothing stopping me from taking a picture of a piece of art or trading card and reproducing it a million times.
- kweingar 5y ago> Bitcoin is also a collectable, with a fixed number of them (21 million) out there to collect. Bitcoin is fungible, unlike collectibles. There is no value to holding one bitcoin vs another, if "different bitcoins" even makes sense as a concept. It can also be subdivided, so it is more accurate to say that there are 21 trillion units that will be out there.