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It's not digital gold because you can't copy and paste gold to make new, separate elements with identical properties. You cannot just easily alter the elemental
by henning 4y ago
It's not digital gold because you can't copy and paste gold to make new, separate elements with identical properties. You cannot just easily alter the elemental chart the way someone can copy and paste a new shitcoin for their latest pump and dump. Bitcoin is not digital gold because there could always be a hard fork -- it's controlled by an unaccountable cabal of miners and whales and if they wanted to do so, it would happen.
- sunshinerag 4y agoSorry that is very poor understanding. No you cannot copy paste bitcoins(not sure what crypto is) into distinct pieces with identical properties. No, it is not trivially hard forkable compared to say the dollar or pound where the supply (a key property) is constantly adjusted by an unaccountable cabal of unelected bureaucrats whenever they fancy it.
- henning 4y agoIt is you who do not understand. You're conflating quantitative easing with cryptocurrency hard forks. Those are completely separate processes.
- kayamon 4y agoThe miners are prevented from forming a cabal to successfully hard-fork. This is loosely referred to as a 51% attack, but basically as long as there are two people in the world who disagree then Bitcoin will continue along its existing fair path.