Global Feed Post Login
Replying to Avatar Turtlesallthewaydown⚡️

I think you are missing the limitations of gold.

There are no prefect solutions and people who think Bitcoin is the future, think it possesses better trade offs than gold.

To directly address your criticisms

1. You are kind of correct and also wrong at the same time. Bitcoin is designed to be digital peer to peer cash. So if you had a $100 bill that you wanted to pay me with, I’m not particularly interested in whether that same $100 bill was used in an illicit transaction previously. Plus, the UTXOs history can be hard to follow through mixers, consolidation/splitting and through layer 2 mechanisms.

2. Bitcoin is no easier to lose than cash or gold. It requires user carelessness or stupidity to lose.

The main reason lots of Bitcoin have been ‘lost’ is because, in the early days, it was worthless and the people playing with this new toy did not value it as it cost them nothing to acquire. So these early holders often threw away or sold the laptops where their Bitcoin keys were stored.

I’d even suggest, the more valuable it becomes the harder it is to lose.

Happy to engage further in good faith if you have more questions.

fe
KenchMeeshe 4mo ago

Thank you for taking the time to engage. My concern with money being not #fungible is about bad actors and #oppressive regimes.

Even in the free world, we see aggressive attacks on projects like #monero and #tornadocash.

Reply to this note

Please Login to reply.

Discussion

No replies yet.