Bitcoin has few attributes of money but all the attributes of a collectible

Re:Bitcoin has few attributes of money but all the attribute... by chii on Thursday April 22, 2021 @01:43AM (#26899150)

> If people would stop believing the myth

imagine if tomorrow, we suddenly find ourselves mining gold from asteroids, and that gold suddenly became super-abundant. Would the price of gold drop to match just the material usage value (e.g., for jewellery and electronics)?

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Re:Bitcoin has few attributes of money but all the attribute... by paxys on Thursday April 22, 2021 @02:27AM (#26899428)

Yes. In the same way Bitcoin will be worthless if quantum computing or some yet undiscovered technology makes calculating hashes effortless.

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Re:Bitcoin has few attributes of money but all the attribute... by wolfretcrap on Thursday April 22, 2021 @03:08AM (#26899700)

But by then bitcoin would have started using quantum hashes.

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Re:Bitcoin has few attributes of money but all the attribute... by omegant on Thursday April 22, 2021 @02:16AM (#26899362)

It has happened before, aluminum is a good example.

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Re:Bitcoin has few attributes of money but all the attribute... by ZephyrBlu on Thursday April 22, 2021 @02:23AM (#26899404)

I would say yes.

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