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CovfefeAnon's profile
Covfefe Anon
Covfefe Anon
Covfefe Anon
@CovfefeAnon

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Covfefe Anon

@CovfefeAnon

Not to be confused with 2001 Nobel Peace Prize winner Kofi Annan. 54th Clause of the Magna Carta absolutist. Commentary from an NRx perspective.

Joined July 2017

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    1. Matthew the Magnificent (According to my Dad)‏ @MbtHawk Oct 18

      Matthew the Magnificent (According to my Dad) Retweeted Shinghi Detlefsen

      Can anyone explain to me why Bitcoin is a store of value? Please?https://twitter.com/ShinghiD/status/1450272102917894144 …

      Matthew the Magnificent (According to my Dad) added,

      Shinghi Detlefsen @ShinghiD
      I listened to Mark Cuban and other bitcoiners the other day via Twitter Clubhouse. The biggest takeaway was that everyone agreed Bitcoin is a store of value. I then went to H-Mart with my wife, walked to the back of the store, turned to her and said “Kimchi is a store of value”
      11 replies 0 retweets 6 likes
    2. Dan Wolfe  🐺  🚢‏ @danthewolfe Oct 18
      Replying to @MbtHawk

      At some point during history we all agreed that gold was going to be a store of value. The same has happened for Bitcoin.

      1 reply 0 retweets 0 likes
    3. Matthew the Magnificent (According to my Dad)‏ @MbtHawk Oct 18
      Replying to @danthewolfe

      I don’t think the analogy is parallel though. Gold has intrinsic utility for starters.

      1 reply 0 retweets 1 like
    4. Dan Wolfe  🐺  🚢‏ @danthewolfe Oct 18
      Replying to @MbtHawk

      Sure but so does copper and it’s 29 cents per oz vs 1700 per oz.

      1 reply 0 retweets 1 like
    5. Matthew the Magnificent (According to my Dad)‏ @MbtHawk Oct 18
      Replying to @danthewolfe

      That’s true. Good is less plentiful and more difficult to mine I’m told….lots of factors. I get your point it just isn’t that strong to me. I think the reasons why we all agreed gold is a store of value actually make sense to me. It’s finite, hard to get, has utility; etc.

      1 reply 0 retweets 1 like
    6. Matthew the Magnificent (According to my Dad)‏ @MbtHawk Oct 18
      Replying to @MbtHawk @danthewolfe

      Bitcoin isn’t hard to mine at all; you just need abunch of computers. It’s just programming which anyone can make any coin and do the same thing. Why should Bitcoin be worth the most?

      3 replies 0 retweets 1 like
    7. Covfefe Anon‏ @CovfefeAnon Oct 18
      Replying to @MbtHawk @danthewolfe

      Bitcoin is amazingly hard to mine - so much so that you need special purpose build hardware to do so and you will lose money mining it unless you have extremely cheap electricity. There are charts you can find that will show you exactly how hard it has been to mine over time.

      1 reply 0 retweets 0 likes
      Covfefe Anon‏ @CovfefeAnon Oct 18
      Replying to @CovfefeAnon @MbtHawk @danthewolfe

      But beyond that, mining a block only creates new BTC until all 21 m BTC are created - then the only payout to miners are the transaction fees in the block.

      11:29 PM - 18 Oct 2021
      0 replies 0 retweets 0 likes

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