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> Bitcoin is the useless asset since it's proven that productive assets (think stocks) are better store of values than unproductive ones (think gold). This has
by oa335 2y ago
> Bitcoin is the useless asset since it's proven that productive assets (think stocks) are better store of values than unproductive ones (think gold).
This has hardly been proven. Gold has been recognized as source of value across several millennia and multiple cultures. I would bet that 1000 years from now gold will still have value, whereas stocks are only valuable in as much as the rights that they represent can be enforced by a court and implicitly the state backing it.
- EVa5I7bHFq9mnYK 2y agoWe are <one mile-sized asteroid made of gold> away from gold losing all its value. One such asteroid has been discovered already. It's called 16 Psyche, 140 miles in diameter and made largely of gold and other precious metals. To compare, all gold ever mined on Earth fits into a 22-meter cube.
- oa335 2y agoWe are one government/imperial collapse from US stocks losing all value. Historically which is more likely to happen?
- EVa5I7bHFq9mnYK 2y agoBoth are more likely to happen than Bitcoin being cracked.
- lolc 2y agoHow are you so certain about the composition of 16 Psyche?
- EVa5I7bHFq9mnYK 2y agoNASA was confident enough to send a rocket towards it, it is scheduled to reach 16 Psyche in 2029.