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I don't know, I guess. "The academic field of cryptography" is much more abstract than "a lump of gold". My point was more about what bitcoin isn't - specifical
by dTal 5y ago
I don't know, I guess. "The academic field of cryptography" is much more abstract than "a lump of gold". My point was more about what bitcoin isn't - specifically, it isn't a natural resource like gold is.
One useful distinguisher: when someone invents a new use for gold, the value of gold increases. When the field of cryptography progresses, bitcoin becomes more obsolete.
- eimrine 5y ago> My point was more about what bitcoin isn't - specifically, it isn't a natural resource like gold is. I can understand that point, btw my opinion is that Bitcoin is a natural resource of saving some bits of data forever. No any alternative with same props in no-Blockchain world. > One useful distinguisher: when someone invents a new use for gold, the value of gold increases. When the field of cryptography progresses, bitcoin becomes more obsolete. Not even close to truth. When someone invents a new metal alloy with some properties of gold, the value of gold may decrease. When the field of cryptography progresses, the value of some cryptocurrencies may increase, for example Litecoin skyrocketed from $4 to $400 in one day after Lightning network has appeared on Litecoin several years ago (there were more examples not only for LTC, I just took a peace of data which I am confident in).