Re:Ending Bitcoin Support
by roywiggins on Tuesday January 23, 2018 @03:50PM
(#16217562)
Plus, in a world where you can mine asteroids for gold, suddenly there's potential for growth not only on Earth, but in the solar system at large, and there have to be industrial uses of gold on Mars...
That said, yes, asteroids mining could certainly affect the price of gold, but not necessarily destroy all its value. There's a price floor set by the industrial applications for it.
With BitCoin, there is no floor. If no one wants to buy your BitCoins, you can't do anything else with them. They are just data representing proof of work, but no outside value.