BTC is *not* infinitely replicable. That is the whole point.
-
-
Replying to @Nick_B_Steves @DividualsTweet
Cryptocurrencies are, though. Infinite forks. Bitcoin 2, 3, etc. We already have thousands of cryptocurrencies. In the end they're just numbers
1 reply 0 retweets 1 like -
Replying to @HbdNrx @DividualsTweet
Well anybody who hasn't heard of Gresham's Law deserves what they got coming.
1 reply 0 retweets 1 like -
Replying to @Nick_B_Steves @DividualsTweet
What makes some good and some bad?
1 reply 0 retweets 0 likes -
Replying to @HbdNrx @DividualsTweet
The tech, dilutability, value held. Only one, or at most two, can win. BTC was first to solve major tech prob and biggest. It will almost surely win. Ethereum solves a slightly diff prob, so may win. The rest are garbage.
1 reply 0 retweets 0 likes -
Replying to @Nick_B_Steves @DividualsTweet
Where does the value held come from, though? The tech verifies transactions and ownership, and that's very nice, but what are you owning?
1 reply 0 retweets 0 likes -
Replying to @HbdNrx @DividualsTweet
You're owning a cash that can be transferred on the internet without 3rd party verification. Stop and think about that.
1 reply 0 retweets 0 likes -
Beyond that, what is the value behind ANY currency? Demand for it, alone. Even the goldbugs' appeal to "intrinsic" value misses the overwhelming point re gold: it's a currency PRECISELY BECAUSE it's practically useless.
2 replies 0 retweets 2 likes -
Replying to @Nick_B_Steves @DividualsTweet
I'd love to own cash that can be transferred on the internet without third party verification. The problem is, cryptocurrencies aren't cash--they're numbers. Cash (dollars) has value because the government makes us use it. Gold is actually useful and pretty
1 reply 1 retweet 1 like -
Replying to @HbdNrx @DividualsTweet
Gold's industrial value is a tiny fraction of its trading price. A paper dollar is also just a number. A serial number. And I doubt a very large fraction of either of our pmts are happening in cash anyway. The rest are LITERALLY just numbers.
1 reply 0 retweets 0 likes
The numbers in bank accounts represent federal reserve notes which represent government obligations. Bitcoin numbers represent...nothing. I would contend that gold's value would not be much less with just industrial and jewelry use.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.