BTC is not a Store of Value. It's mostly a speculative play that newcomers will buy into old brand. And maybe partly a bet on future LN development.
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Replying to @el33th4xor
Niraj Pant Retweeted Murad Mahmudov 🚀
This feels overly reductionst. In theory, this is true of most L1 networks, but BTC has too many redeeming qualities you can’t discount:https://twitter.com/muststopmurad/status/1022169639386836992?s=21 …
Niraj Pant added,
2 replies 1 retweet 7 likes -
Replying to @niraj @el33th4xor
He doesn’t understand monetary econ. Gold wasn’t yet a palpably great store of value 9 years after its discovery either. Bitcoin has the perfect characteristics to *become* a robust store of value in the coming years and decades.
1 reply 0 retweets 18 likes -
Gold is a beautiful shiny yellow metal that does not tarnish and is incredibly easy to work into all sort of shapes. That is why it was valued the world over, since prehistory. And that is why it was a good "store of value". Bitcon, on the other hand, is literally nothing.
5 replies 0 retweets 0 likes -
Replying to @JorgeStolfi @MustStopMurad and
Lol, really? This is what made gold valuable? Not the fact that is a rare metal. Sound money can’t be replicated or produced easily.
#bitcoinstandard.1 reply 0 retweets 1 like -
Replying to @JeffPatrick6 @MustStopMurad and
Yes, genius, that is why everybody wanted gold, and no one wanted scandium or tantalum. Sound money is money that has stable value. The USD is sound money. Gold does not have stable value, that is why it is no longer money. Bitcoin is the exact opposite of sound money.
1 reply 0 retweets 0 likes -
Replying to @JorgeStolfi @JeffPatrick6 and
Sound Money is about fixed supply not stability. Bitcoin is only 9 years old, Gold was stable in the 1880s before governments actively demonetized it. Give Bitcoin 30 years and it will also be a lot more stable
1 reply 0 retweets 3 likes -
Replying to @MustStopMurad @JeffPatrick6 and
"Gold is sound money" is what the gold holders need you to believe. Indeed the value of gold was stable while it was pegged to USD, and the Fed struggled to stabilize its value. When they finally gave up, gold became stupidly volatile, while the USD continued to be stable.
2 replies 0 retweets 1 like -
Replying to @JorgeStolfi @JeffPatrick6 and
Gold was stable long before United States was even a thing
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Replying to @MustStopMurad @JeffPatrick6 and
I suppose that you were there and thus you know what you are talking about.
2 replies 0 retweets 0 likes
you don’t understand monetary economics and how money emerges in the first place. it’s sad that a computer science professor is so narrow minded when it comes to an emergence of natively-digital money. Money can exist outside of the state.
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Replying to @MustStopMurad @JeffPatrick6 and
I am no expert in monetary economics, but you obviously know a lot less than I do. You got your knowledge from guys who want to get your money by selling you gold or bitcoin at absurdly inflated prices. >>
2 replies 0 retweets 0 likes -
Replying to @JorgeStolfi @JeffPatrick6 and
Nah, you don’t know anything.
0 replies 0 retweets 2 likes
End of conversation
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