Re:Bitcoin's Use in Commerce Keeps Falling
by sneak on Sunday August 26, 2018 @01:34PM
(#17846854)
Securing bitcoin is much easier than securing gold. Gold can be confiscated easily; bitcoin is much harder, especially with things like brainkeys.
Additionally, gold does not have a built in global teleporter. Bitcoin does. I can send basically an unlimited quantity of value to anyone with internet access in minutes with bitcoin; the same is not possible with gold.
If bitcoin is only useful for global remittance and bypassing the long-distance-money-transfer cartels of the world, it is an insanely valuable tool. My estimation is that it is valuable for at least that, and probably several other things as well (e.g. online payments for physical goods that are subject to high chargeback risk, et c).
Additionally, gold does not have a built in global teleporter. Bitcoin does. I can send basically an unlimited quantity of value to anyone with internet access in minutes with bitcoin; the same is not possible with gold.
If bitcoin is only useful for global remittance and bypassing the long-distance-money-transfer cartels of the world, it is an insanely valuable tool. My estimation is that it is valuable for at least that, and probably several other things as well (e.g. online payments for physical goods that are subject to high chargeback risk, et c).