Goldbugs in disbelief.
Discussion
Thanks for sharing!💜🧡🙏🏼
But gold still works when the internet goes down :)
That's like saying Bitcoin would stop working if electricity goes down.
Like, every electric eel in the world would stop working. What would we do?
Throw more car batteries into the ocean?
https://img.ifunny.co/images/11984b2f5c2e5a139a165f50e0aab84345ea11a57e0af5c5d4dfa20adaef710c_1.webp
The Purge would be in full force.
Guns would be the currency.
Our society is not going to be transacting with gold if the internet and electricity went out.
It would transact with force. Taking would be the new free market.
that too, but the internet could easily fragment, already is if you look at China
So nobody is using bitcoin in China?
Big loss for the Chinese people
I don’t think I said that? I said the internet could fragment, to some extent it already has in China.
I been studying BTC for six years, perhaps I’m too slow but I still see no reason to own it, sorry :) The energy doesn’t bother me it’s the whole trustless thing. Money requires trust by definition.
A totally deflationary currency means folks like me, who save a lot, would end up with all the coins :)
No one backs it and it depends on state laws to protect it as property.
It seems to have zero value as money, except in international transfers where it allows folks to escape the predators in the banks.
Owning it only seems worth it to sell to a greater fool. It’s still in the inflationary phase, which allows the greater fool game to continue. Long term it could be like gold and other real things like violins, except you can’t play it. It’s just another number on the number line.
I appreciate your work and enjoy your essays. I’ve learned from them. As an investor I should hold some as the prudent thing, I just can’t get there yet.
but #btc sha256d #mining industry also looks to as #centralized as gold vaults n mines
Could make similar arguments for the physical security issues surrounding seed phrase storage, correct?
