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sure, but I think the point was that if suddenly everyone stopped trading gold it could still be useful to someone. Whereas if everyone stopped trading bitcoin
by dec0dedab0de 12y ago
sure, but I think the point was that if suddenly everyone stopped trading gold it could still be useful to someone. Whereas if everyone stopped trading bitcoin it would not be useful to anyone.
- jafaku 12y agoWrong, the Bitcoin blockchain has many uses. For example: http://proofofexistence.com/ http://proofofexistence.com/
- Vendan 12y agoeveryone stopping trading gold would only happen if everyone stopped using gold, so how is it still useful. Imagine, if you would, a machine that can make as much of something as you want, replicating it from nothing. Put gold through it. Is there anything about the gold that would prop it's value up above the pure value of the effort required to push the button? If gold is valued because of both scarcity and subjective value, what makes bitcoin any different? It has scarcity, and people subjectively value it.