Re:CBOE Will Start Bitcoin Futures Trading on December 10
by baddox on Monday December 04, 2017 @10:37AM
(#15844608)
You seem to be deliberately conflating the terms “Bitcoin” and “cryptocurrency,” when you clearly understand that the former is a special case of the latter.
Re:CBOE Will Start Bitcoin Futures Trading on December 10
by samsonradu on Monday December 04, 2017 @12:04PM
(#15845379)
I also tend to think that bitcoin is scarce only if it’s not forked. Can anyone elaborate?
Re:CBOE Will Start Bitcoin Futures Trading on December 10
by hackinthebochs on Monday December 04, 2017 @01:16PM
(#15846078)
"Bitcoin" isn't the software, or the network, or the database. It is the consensus of every player in the ecosystem: users, miners, developers, exchanges, etc. A fork doesn't fork the consensus, its by definition a deviation from consensus. Forks don't duplicate what is valuable about bitcoin.
Re:CBOE Will Start Bitcoin Futures Trading on December 10
by empath75 on Monday December 04, 2017 @02:47PM
(#15846809)
Except bitcoin cash seems to have maintained value.
Re:CBOE Will Start Bitcoin Futures Trading on December 10
by hackinthebochs on Monday December 04, 2017 @03:13PM
(#15847000)
Because there are true believers who think it will overtake bitcoin in the end. It's perceived value is derived in opposition to bitcoin, rather than duplicating bitcoin's value.
It's also not correct that bitcoins are scarce. They're only scarce as long as there's a social agreement that 'bitcoins' are the one true cryptocurrency. It's trivial to create new cryptocurrencies or even fork the main bitcoin blockchain. That could turn on a dime and wipe out all of bitcoins value, if some new cryptocurrency comes along and everyone switches to it.