Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by Udik on Friday December 08, 2017 @10:35PM
(#15884139)
Yes, bitcoin is better than gold in that it's virtual and can be transferred over the internet.
But that doesn't change the fact that it's a store of value like gold is, and not a currency.
> Name-calling cryptocurrencies "primitive"
I called gold primitive as a currency. And made an argument for bitcoin (specifically) being similar to gold.
Edit: btw, gold 500 years ago had the same exact property of bitcoin today: it was immediately transferable to anybody you were in contact with and could buy goods from. That didn't make it better.
> Name-calling cryptocurrencies "primitive"
I called gold primitive as a currency. And made an argument for bitcoin (specifically) being similar to gold.
Edit: btw, gold 500 years ago had the same exact property of bitcoin today: it was immediately transferable to anybody you were in contact with and could buy goods from. That didn't make it better.