That isn't quite true. The value is intangible, but not zero. What value does a stable currency unable to be monkeyed with by a banking cartel or state-cum-Mafia have to you? I think the answer is inherent in your first tweet in this thread.
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(That is, why should I think these have value in the first place?)
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It's just a trading token, a dollar doesn't have value either. Hell, gold only has value because it's durable and rare and people like it, it's not like gold has any particularly useful properties when viewed in the context of its rareness. All money is shared delusion.
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Gold is both useful and pretty. The dollar is required by law and backed with force.
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That's why gold is not ideal as a currency. Its rarity and useful electrochemical features shouldn't be tied up artificially as a proxy for valuing other things.
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That's actually what makes it useful as a currency
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The ideal currency is one that has absolutely no value whatsoever, but meets all the characteristics of a currency. One never has to worry that some new use of a cryptocurrency will artificially change its value because storing value is the only thing it does.
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Strong disagree
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(The dollar has most of that, but why does it have any value at all? Because the government collects taxes in it and enforces that with guns.)
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That's the beauty of it. You don't *get* to care. It's out of your hands entirely. The only people whose opinions on forking matter are the miners, and they have all the skin in the game.
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I don't have to care because I can go right on not using bitcoin
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You're free to do that and I'm free to believe you're wrong
End of conversation
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It's not a matter of forking at 51%, it's a matter of whoever owns 51% being able to synthesize transactions and double spend if they want. That is to say it basically breaks the security of the entire network. You can fork bitcoin right now all you want and it doesn't matter.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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