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Your observations are also a bullish signal for Bitcoin, as it sort of functions as a "digital gold". Cheaper to transmit, cheaper to custody, basically instant

Your observations are also a bullish signal for Bitcoin, as it sort of functions as a "digital gold". Cheaper to transmit, cheaper to custody, basically instantly auditable/verifiable, as a financial instrument. No need to inspect, ship and melt down to store in warehouses.

joezydeco 1y ago
I chose Costco over Coinbase, and I'm happy with my choice. I trust Costco.
- scottiebarnes 1y ago
  That's great. I also enjoy taking custody of my data and property.
hypeatei 1y ago
Bitcoin mostly follows the S&P 500 now. No one actually cares about the technical merits. If they did, it'd probably be worth nothing because it's worse than our current financial system in every way: slow, irreversible transactions on a public ledger.
- scottiebarnes 1y ago
  And how does it compare to gold?
  - hypeatei 1y ago
    Gold is a shiny, tangible thing that doesn't require electricity and it doesn't put all your transactions on a public ledger. Oh, and it lasts basically forever plus it's malleable so you can get it down to quite small denominations.
    - scottiebarnes 1y ago
      Ah, so gold is a shiny rock that doesn't have a decentralized transmission network (the internet). Mining and smelting gold requires quite a bit of electricity. But Bitcoin the network undoubtedly uses more. As for small denominations, Bitcoin goes down to a single unit of Satoshi (1/100 millionth of a btc) and since its digital, subdivision is trivial. So despite this, there are far more retail and commercial opportunities to exchange your btc for goods and services, where as I don't know of any place I can trade gold coins for things.
      - carlosjobim 1y ago
        Gold is the best thing which has ever existed in the universe, mind your tongue.
    - tim333 1y ago
      Gold has the issue that you can mine a lot more of it. The supply of bitcoin is capped.
      - yifanl 1y ago
        The supply of Gold is capped too, it's just further out.

joezydeco 1y ago

I chose Costco over Coinbase, and I'm happy with my choice. I trust Costco.

scottiebarnes 1y ago
That's great. I also enjoy taking custody of my data and property.

hypeatei 1y ago

Bitcoin mostly follows the S&P 500 now. No one actually cares about the technical merits. If they did, it'd probably be worth nothing because it's worse than our current financial system in every way: slow, irreversible transactions on a public ledger.

scottiebarnes 1y ago
And how does it compare to gold?
- hypeatei 1y ago
  Gold is a shiny, tangible thing that doesn't require electricity and it doesn't put all your transactions on a public ledger. Oh, and it lasts basically forever plus it's malleable so you can get it down to quite small denominations.
  - scottiebarnes 1y ago
    Ah, so gold is a shiny rock that doesn't have a decentralized transmission network (the internet). Mining and smelting gold requires quite a bit of electricity. But Bitcoin the network undoubtedly uses more. As for small denominations, Bitcoin goes down to a single unit of Satoshi (1/100 millionth of a btc) and since its digital, subdivision is trivial. So despite this, there are far more retail and commercial opportunities to exchange your btc for goods and services, where as I don't know of any place I can trade gold coins for things.
    - carlosjobim 1y ago
      Gold is the best thing which has ever existed in the universe, mind your tongue.
  - tim333 1y ago
    Gold has the issue that you can mine a lot more of it. The supply of bitcoin is capped.
    - yifanl 1y ago
      The supply of Gold is capped too, it's just further out.