Do most people have bars of gold sitting around? No. Do most people have gold jewelry like wedding rings and earrings and necklaces? Yes. Can those bars of gold sitting in banks be easily melted down into coins in the event of a society collapse? Yes. Can Bitcoin be usable at all without internet and power? No.
Hmmmm, so in this collapse scenario, there’s no internet or electricity, but somehow the infrastructure for melting gold, and the manufacture of things that require gold, just…keeps on ticking?
You think if we go back to unga bunga times we’re just going to melt down gold and start trading with each other?
That level of apocalypae and we will have way bigger and more urgent problems than trying to reimplement the gold standard in a world without electricity or internet.
Like yes, fire, yeah that’s correct it melts gold. But you really think that’s a strong argument for investing in gold over bitcoin?
Gold is also a shitty investment. But it’s a slightly better investment than Bitcoin. It has tangible value.
You’d be much better off investing that money in your community and building a robust support network, a small co-op to grow food, and find a secure source of clean water. If the kind of collapse people are talking about in this thread happens, no amount of Bitcoin or gold is going to be worth anything. But grain and water will be priceless.
The apocalypse thing is a stupid thought experiment at the end of the day. I think it’s fair to say gold would be better than Bitcoin in a total apocalypse scenario. But this isn’t why people buy Bitcoin. It’s not the collapse of civilization people are buying gold and bitcoin for, it’s the collapse of the US dollar (and all fiat currencies).
For that collapse scenario, which is exponentially more likely than the literal apocalypse, Bitcoin is king. It’s an objective fact. It’s literally the most logical solution to that problem. This isn’t to say that Bitcoin doesn’t have downsides. It does. But that doesn’t change the fact that it’s inevitable. That’s what most people can’t seem to wrap their heads around
I have gold and can transport it. We traded gold before we had an international banking structure. We don’t need electricity or the internet for the trade in gold.
Crypto has no utility. It cannot be transported as it isn’t a physical asset. It cannot be used for any other purpose eg you can’t make a hat out of BTC or ETH. Gold and crypto are not the same when it comes to their usability as a currency.
No they’re not the same, you’re correct. You’re totally incorrect that it has no utility. You honestly just don’t understand how it actually works. I really, strongly suggest understanding
I have spent 15 years following crypto. I promise you that I know how it works. The fact is the fanboys are the ones who are mistaken as so much of that scene is built by people who either know fuckall about currency policy or are scammers.
Just to hold you accountable, kindly give me a brief explanation of how bitcoin works. If you know how it works, you should be able to explain it, and if you use Google to explain it for you, you’ll defeat your own argument. So please, try if you don’t mind?
And gold? A huge percentage of which people hold non-physically?
It’s almost like you can come up with arguments that NOTHING is safe without a functioning internet and communications system.
So…what’s the difference here?
Do most people have bars of gold sitting around? No. Do most people have gold jewelry like wedding rings and earrings and necklaces? Yes. Can those bars of gold sitting in banks be easily melted down into coins in the event of a society collapse? Yes. Can Bitcoin be usable at all without internet and power? No.
Hmmmm, so in this collapse scenario, there’s no internet or electricity, but somehow the infrastructure for melting gold, and the manufacture of things that require gold, just…keeps on ticking?
My sweet summer child. These things worked before the internet and will work without the internet.
Priceless 🤣
Umm… fire?
You think if we go back to unga bunga times we’re just going to melt down gold and start trading with each other?
That level of apocalypae and we will have way bigger and more urgent problems than trying to reimplement the gold standard in a world without electricity or internet.
Like yes, fire, yeah that’s correct it melts gold. But you really think that’s a strong argument for investing in gold over bitcoin?
Gold over Bitcoin? Yes.
Gold is also a shitty investment. But it’s a slightly better investment than Bitcoin. It has tangible value.
You’d be much better off investing that money in your community and building a robust support network, a small co-op to grow food, and find a secure source of clean water. If the kind of collapse people are talking about in this thread happens, no amount of Bitcoin or gold is going to be worth anything. But grain and water will be priceless.
We’re losing the plot here.
The apocalypse thing is a stupid thought experiment at the end of the day. I think it’s fair to say gold would be better than Bitcoin in a total apocalypse scenario. But this isn’t why people buy Bitcoin. It’s not the collapse of civilization people are buying gold and bitcoin for, it’s the collapse of the US dollar (and all fiat currencies).
For that collapse scenario, which is exponentially more likely than the literal apocalypse, Bitcoin is king. It’s an objective fact. It’s literally the most logical solution to that problem. This isn’t to say that Bitcoin doesn’t have downsides. It does. But that doesn’t change the fact that it’s inevitable. That’s what most people can’t seem to wrap their heads around
I have gold and can transport it. We traded gold before we had an international banking structure. We don’t need electricity or the internet for the trade in gold.
Crypto has no utility. It cannot be transported as it isn’t a physical asset. It cannot be used for any other purpose eg you can’t make a hat out of BTC or ETH. Gold and crypto are not the same when it comes to their usability as a currency.
No they’re not the same, you’re correct. You’re totally incorrect that it has no utility. You honestly just don’t understand how it actually works. I really, strongly suggest understanding
I have spent 15 years following crypto. I promise you that I know how it works. The fact is the fanboys are the ones who are mistaken as so much of that scene is built by people who either know fuckall about currency policy or are scammers.
Just to hold you accountable, kindly give me a brief explanation of how bitcoin works. If you know how it works, you should be able to explain it, and if you use Google to explain it for you, you’ll defeat your own argument. So please, try if you don’t mind?
Why would you have the right to hold me accountable? And hold me accountable for what?
I’ve created 16 blockchains and I’m one of Bitcoin’s core developers. Just trust me.
That’s what you’re doing
That’s not at all accurate. It’s not surprising you are invested in crypto. Hopefully you can weather the loss of it.
Remember these conversations down the road.
And stop saying crypto. We are talking about Bitcoin.
Objectively false
Lol sorry buddy but that’s true. Followed crypto for 15 years and the space is filled with guys who never took an economics course
To be fair, you’re not wrong about your point. But in this case it’s a matter of being correct despite themselves.
And again, crypto is not equal to Bitcoin. Bitcoin is crypto, but only Bitcoin is Bitcoin. Maybe I’ll be wrong, guess we will see
Again I would dial back the arrogance here as you are backing crypto.