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You should make your own mind. My belief is that it would be shocking if Bitcoin's market cap got close to gold, because gold has substantial fundamental value

You should make your own mind. My belief is that it would be shocking if Bitcoin's market cap got close to gold, because gold has substantial fundamental value (which prevents the price fron collapsing) and a long tradition. Another reason is that the narrative that Bitcoin's price will at least double or triple won't be believable if Bitcoin gets to 1.5% of world wealth. When hodlers realize that they will not double their money, the rationale for hodling disappears.

npoc 3y ago
If you don't think bitcoin can even get close to gold, then you really don't understand bitcoin yet. Smashing golds market cap will happen in less than 6 years. And that's just the start.
- RivieraKid 2y ago
  I could say the same, if you think Bitcoin's market cap can get close to gold's, you don't understand Bitcoin yet. Same "argument" as yours.
  - npoc 2y ago
    Except I have already been in your frame of mind. You have never been in mine.
    - RivieraKid 2y ago
      I've been in yours and it's wrong.
      - npoc 2y ago
        You'd be the first person I've come across who understood bitcoin and then un-understood it.
        RivieraKid 2y ago
        What about Bitcoin do you think I don't understand, be specific. If it's a claim about Bitcoin that's not self-evident, give some reasoning behind it.
        npoc 2y ago
        You claim that gold has "fundamental value" and imply that bitcoin doesn't. If you don't understand why bitcoin has fundamental value, then I'd bet you don't understand why gold has either. If you understand why gold has fundamental value, it's self evident why bitcoin has it too (far, far more in fact).
        RivieraKid 2y ago
        So what's this fundamental value that I'm not understanding? I think Bitcoin has some limited fundamental value by the way. Be specific, it seems like you're deliberately vague because you don't have a strong argument. (And I think I know what's the argument.)
        npoc 2y ago
        I just don't have time unfortunately, it's a large subject. But if you're genuinely interested in learning why bitcoin is fundamentally much better money than gold or fiat, or in fact anything else then I highly recommend listening to at least the first 9 episodes of this podcast series - one of the most interesting podcasts I've ever heard: https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfnrnIlqMcSHd6X https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfn... In fact make that the first 10 - the tenth is called "The Death of Gold"
        AnimalMuppet 2y ago
        If I need to go through 10 podcast episodes to understand why bitcoin is better than gold, that makes me seriously question whether bitcoin is better than gold. Things that are actually better shouldn't need that long of an explanation. Example: Why is gold better than fiat currency? Because the government can't print more of it, thereby devaluing all the currency you possess. Sure, there's much more detail than that (on both sides), but the basic proposition can be stated in one sentence. So if you can't say that for crypto, then it does sound like you don't have a very strong argument.

npoc 3y ago

If you don't think bitcoin can even get close to gold, then you really don't understand bitcoin yet. Smashing golds market cap will happen in less than 6 years. And that's just the start.

RivieraKid 2y ago
I could say the same, if you think Bitcoin's market cap can get close to gold's, you don't understand Bitcoin yet. Same "argument" as yours.
- npoc 2y ago
  Except I have already been in your frame of mind. You have never been in mine.
  - RivieraKid 2y ago
    I've been in yours and it's wrong.
    - npoc 2y ago
      You'd be the first person I've come across who understood bitcoin and then un-understood it.
      - RivieraKid 2y ago
        What about Bitcoin do you think I don't understand, be specific. If it's a claim about Bitcoin that's not self-evident, give some reasoning behind it.
        npoc 2y ago
        You claim that gold has "fundamental value" and imply that bitcoin doesn't. If you don't understand why bitcoin has fundamental value, then I'd bet you don't understand why gold has either. If you understand why gold has fundamental value, it's self evident why bitcoin has it too (far, far more in fact).
        RivieraKid 2y ago
        So what's this fundamental value that I'm not understanding? I think Bitcoin has some limited fundamental value by the way. Be specific, it seems like you're deliberately vague because you don't have a strong argument. (And I think I know what's the argument.)
        npoc 2y ago
        I just don't have time unfortunately, it's a large subject. But if you're genuinely interested in learning why bitcoin is fundamentally much better money than gold or fiat, or in fact anything else then I highly recommend listening to at least the first 9 episodes of this podcast series - one of the most interesting podcasts I've ever heard: https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfnrnIlqMcSHd6X https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfn... In fact make that the first 10 - the tenth is called "The Death of Gold"
        AnimalMuppet 2y ago
        If I need to go through 10 podcast episodes to understand why bitcoin is better than gold, that makes me seriously question whether bitcoin is better than gold. Things that are actually better shouldn't need that long of an explanation. Example: Why is gold better than fiat currency? Because the government can't print more of it, thereby devaluing all the currency you possess. Sure, there's much more detail than that (on both sides), but the basic proposition can be stated in one sentence. So if you can't say that for crypto, then it does sound like you don't have a very strong argument.