3 ms·
This doesn't deal with the other thing I mentioned, which is that the blockchains will fork without a global view of the network. This means you could spend btc
by cookiecaper 14y ago
This doesn't deal with the other thing I mentioned, which is that the blockchains will fork without a global view of the network. This means you could spend btc gained before the fork in one segment and spend them again in another segment, and that if you got new btc in one segment, it would be invalid in all the other segments.
Also, as another has pointed out, this is ridiculously implausible when compared with other currency options.
Many invest money in btc that could have been invested in a hard commodity with emergency currency value like gold or silver. Gold and silver will continue to exist in a normal, usable fashion regardless of the state of online connectivity.
- Jtsummers 14y agoI was almost with you until the end. Gold/silver suffer a similar problem, unless you actually physically possess the metal then the certificates are of little value unless they are redeemable via some trusted 3rd party. In a shit hits the fan scenario, no such trust is likely to be present.
- cookiecaper 14y agoYes, I agree. Those who hold gold through passthroughs, depositories, or similar mechanisms are not likely to fare well. It's only applicable for metals owned directly.