Re:Microsoft has sunk a data centre in the sea to investigat...
by zrobotics on Wednesday June 06, 2018 @11:36AM
(#17247978)
I think the bigger trust problem here is trusting that BTC will continue to have value. You have to trust that a market will continue to exist, there are plenty of cryptocurrencies that are worthless. There is no actual reason bitcoin has any value aside from market consensus, and the same could have been said about tulip bulbs at one point.
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Re:Microsoft has sunk a data centre in the sea to investigat...
by gnode on Wednesday June 06, 2018 @12:08PM
(#17248277)
You have the same issues with gold also. Although it's very unlikely gold would lose most of its value, the price of gold throughout history has fluctuated greatly:
https://upload.wikimedia.org/wikipedia/commons/e/e3/Gold_pri...
Even for assets with industrial applications, there's a risk that it may be replaced with something else, or made cheap (e.g. synthetic diamond; aluminium was a precious metal before electrolytic production; asteroid mining?).
I agree with your comparison of Bitcoin to tulip bulbs. Just because Bitcoin is used as a store of value doesn't mean it's wise.