Re:Bitcoin and cryptocurrency prices have fallen sharply ove...
by osrec on Thursday March 12, 2020 @09:27PM
(#22563897)
Gold is generally not free to store. If anything, it is one of the more expensive things to store safely.
Also, if someone handed you a shiny yellow object saying it's gold, you'd still need to verify it with a chemical or physical test requiring a bunch of paraphernalia, much like the cryptographic proof required for bitcoin (requiring, in turn, the internet, a computer etc).
Not saying that bitcoin is a great asset, but it shares common problems with gold, albeit in a more "virtual" domain.
Also, if someone handed you a shiny yellow object saying it's gold, you'd still need to verify it with a chemical or physical test requiring a bunch of paraphernalia, much like the cryptographic proof required for bitcoin (requiring, in turn, the internet, a computer etc).
Not saying that bitcoin is a great asset, but it shares common problems with gold, albeit in a more "virtual" domain.