Nassim Taleb: Bitcoin failed as a currency and became a speculative ponzi scheme

Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by tim333 on Saturday April 17, 2021 @10:00AM (#26844318)

That's not really true. You could bury a bottle in the backyard with the address and private key written on paper and still have the bitcoins in 20 years. If no one is running the blockchain software you could get the most recent copy of the chain / software and start it up. With both gold or bitcoin if there are no buyers then you won't be able to sell it for much.

It might actually be entertaining to bury a bottle with $10 worth of bitcoin - it might be worth quite a lot when dug up like that guys hard drive in a refuse tip he wants to dig up. Or not of course.

("A man who says he threw away a hard drive loaded with 7,500 bitcoins in 2013 is offering his city $70 million to dig it up from the dump" https://www.businessinsider.com/man-offers-council-70-millio...)

[ Parent | on HN ]

Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by Valakas on Sunday April 18, 2021 @08:21AM (#26851812)

Gold is a metal made in the burning core of dying stars. It doesn't really care about buyers and economy. We use gold for many purposes other than as a store of value, and that is exactly why it became a store of value. It is useful BESIDES being a store of value. Heck if you don't like gold, buy platinum or some other exotic material. Stores value just as well. Bitcoin is useless besides being a store of value. That makes it a bad store of value.

[ Parent | on HN ]

Re:Nassim Taleb: Bitcoin failed as a currency and became a s... by nly on Saturday April 17, 2021 @10:40AM (#26844556)

There have been buyers of gold for thousands of years though

[ Parent | on HN ]