Tell me why you haven’t bought #bitcoin
yet
pic.twitter.com/AXjrofMAOH
I don’t think that’s a good analogy. If gold is cornered my gold (I cornered) is still valuable. If bitcoin is cornered, my bitcoin is worthless. I don’t have a strong opinion on this, just saying the things in my head about bitcoin. There’s another reason why the analogy is bad.
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Mining is a commodity scale business. These businesses tend towards market concentration. Market concentration means a potentially successful 51% attack. That scares me. Also, I don’t get how bitcoin works. I spent a lot of time trying and I don’t 100% get it. My 2 (bit)cents
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