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That is why I am saying #bitcoin is NOT a commodity on its own - it is just a digital form of gold ..like you can have gold in liquid form , solid or even a gas ( I guess :-) ..

The number 21 million is also interesting choice by Satoshi .. cuz by 2034 there will be 21 million bitcoin ( give or take ) and 210 million kilos of gold ..

So by 2034 - on bitcoin will be equal to ten kilos of gold .. which checks out all the price predictions ..

In essence , we have forged a digital form of gold and we are in proceas of achieving price parity ..

Yes ..we are early :-)

Dikaios1517 11mo ago

Bitcoin is not gold in digital form. Bitcoin is superior to gold in every metric. It is not "digital gold" in the same sense that ice is water in solid form, and water can also exist as a vapor...

When water becomes ice, an equal amount of water is no longer liquid. The actual molecules of water change. Same when it turns to vapor. Absolutely nothing about physical gold changes each time a new Bitcoin block is found and new sats are issued in the block subsidy. Physical gold is unchanged. This means Bitcoin is therefore an entirely separate thing from gold, though it was designed to have many of the same properties, only better.

What you are saying is poetic, but it has no basis in reality.

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Discussion

Satosha 11mo ago

You are describing conservation of mass in physical world .. digital form doesn't has this limitation.. I mean if I take my picture , doesn't mean I cease of exist ..

Yet my picture can represent me on zoom calls ..

Dikaios1517 11mo ago

Right, but Bitcoin is not even a representation of Gold. It is its own thing.

Satosha 11mo ago

Then... . It is NOT money ..chose what you want it to be :-) .. your wish is the reality 🙏

Dikaios1517 11mo ago

That is a false dichotomy. "Bitcoin is a digital representation of gold, or it is not money." No. Bitcoin can be and is money without being in any way a tokenized version of gold.

Satosha 11mo ago

Sure .. 😊 .. it will be money for AIs .. humans will still use gold, bonds and central banks .. unfortunately

Satosha 11mo ago

The choice is actually simpler than it seems -

Do we want #bitcoin the currency of internet ? .. or we want it money of both - real world plus digital ..

In second option - it is obvious to peg bitcoin with gold .. and equities and bonds and RE ..

Dikaios1517 11mo ago

Bitcoin doesn't need to be pegged to anything to be used in the "real world." It is intrinsically tied to the real world via the energy needed to find a block.

Quit trying to "fix Bitcoin" by saying it needs to be something other than what it is. It is perfectly scarce digital money, which turns out to be a better ledger system than any physical money ever was. That is true not only for digital application, but for "real world" application, too. No need to compromise its supply cap by pegging it to anything else.

Satosha 11mo ago

And yes .. superiority of form depends on the metrics .. some forms are better in certain aspects .. others are in others ..

For example digital form can travel at speed of light ..but you can't touch it like you do to a physical thing .. so .. beauty is in the eyes of beholder :-)