Right but there is a fundamental difference between bitcoin and any other coin that makes bitcoin comparable to gold in a meaningful way and Im feeling like you don't understand what that difference is.
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Replying to @SoakerPatoshi @davidgerard and
I don't think there is, except in the imagination of its supporters.
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Replying to @Frances_Coppola @davidgerard and
I'll bet I'm the first "supporter" to admit bitcoin IS fiat and that bitcoin can't be ideal money because its supply is inelastic. There is one special comparable quality that bitcoin distinguishes bitcoin and this quality is what frustrates everyone that is trying to change it
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Replying to @SoakerPatoshi @Frances_Coppola and
its community is utterly dysfunctional in the face of bitcoin's complete technical failure and has descended into cultist infighting? interesting basis for a monetary system, I'll admit
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Replying to @davidgerard @SoakerPatoshi and
If money at the highest level is international settlement (between nations), and
#bitcoin was designed for this ; perhaps it is misunderstood. As a stand alone retail system , it is unsuited. In this [retail] aspect, Bitcoin CANNOT scale As a#bancour type unit, hell yeah
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Replying to @jongulson @SoakerPatoshi and
bitcoin was intended as electronic cash. it's a miserable failure at this. all other claimed purposes were bolted on after its miserable failure to be electronic cash.
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Replying to @davidgerard @jongulson and
I think if you look at the design of the system, one can argue it was not designed to be digital cash in that sense
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Replying to @duringo_ @jongulson and
I think if you look at the design of the system, you would conclude Satoshi's ideas on economics were inchoate, immature and ill-considered, which they were. Nothing about this makes sense. The community started delusional, and has continued.https://davidgerard.co.uk/blockchain/the-conspiracist-gold-bug-economics-of-bitcoin/ …
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Replying to @davidgerard @duringo_ and
We just wanted an alternative form of money with a scarce supply that no single central authority can print more of or seize. Is that bad?
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Replying to @MustStopMurad @duringo_ and
the empirical evidence seems to show it is, yes
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why is that bad?
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