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I see BTC in the same class as Gold (hard assets without any intrinsic value and valued only because everyone else values it). USD is a different asset type - F
by RestlessMind 4y ago
I see BTC in the same class as Gold (hard assets without any intrinsic value and valued only because everyone else values it). USD is a different asset type - Fiat currencies which are essentially debts owed by various governments to the holders of those currencies.
So BTC won't be replacing USD, imo.
- tiborsaas 4y agoGold has some intrinsic value, you can turn it into fancy jewelry, teeth replacement or cutlery :)
- RestlessMind 4y agoAnd yet its market cap, >10T USD, is not at all commensurate to the uses you cited. Governments hold gold in their reserves because they see it as a hard asset.