Re:MicroStrategy's Bitcoin Debt Bet
by x87678r on Monday December 14, 2020 @08:20AM
(#25417148)
The good thing about gold is if/when people decide its no longer a good store of value, you can still use it, for jewellery or connectors etc. BTC is just goes poof.
[ Parent
| on HN ]
This is actually a pro for bitcoin. It's not useful as anything other than a store of value.
If we collectively decide to switch to bitcoin as our store of value network, and retire gold and silver from that use case, then we free up all the gold stored in vaults collecting dust as a value store to do more useful work that it's uniquely capable of, like being used in electronics or dental work.
A lot of these use cases now aren't economically viable because the market value of gold is inflated due to being overloaded with the store of value use case.
Re:MicroStrategy's Bitcoin Debt Bet
by jerrymiller on Tuesday December 15, 2020 @11:13AM
(#25431583)
Is it a trend that the quality of comments about BTC on HN has increased drastically? It's about 50/50 of the good/bad ratio now, whereas 1-2 years ago, I'd say it was easily 10/90.
Tell me mister gxon, are you a good representation of the HN crowd, or is it just Bitcoiners have piled on this article for some reason?