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I thought Bitcoin was a really neat idea as an experiment of a completely market driven asset. It seems like it still could become/already is that (I think this
by bvirb 4y ago
I thought Bitcoin was a really neat idea as an experiment of a completely market driven asset. It seems like it still could become/already is that (I think this is called the "digital gold" idea).
Of course when the mania settles I have no idea if the value of digital-gold-sans-gambling would be $5 or $500,000 or $0. But I do think there is a neat idea that isn't just a pure scam buried in there.
- pocket_cheese 4y agoThere's companies like Paxos that are actually audited and have a token PAXG that is backed 1:1 with actual gold reserves. The tokens themselves actually have serial numbers that are linked to a physical gold bar.
- bvirb 4y agoThat is interesting. To me I think the neat thing about Bitcoin is that the decentralization and lack of intrinsic value are exactly what make it (mostly) purely market driven. Blockchain/decentralization as a technology I'm not very sold on yet.