News for hackers. Stuff that matters.

A comment on .01% of Bitcoin holders hold 27% of all Bitcoin. Parent comment

Re:.01% of Bitcoin holders hold 27% of all Bitcoin by mistrial9 on Saturday May 21, 2022 @03:35PM (#31461038)
> crux of Bitcoins is that its value is derived from people's belief in its value

brave, but .. fail. The crux of BTC is that it is secure to attacks while moving assets that are represented digitally. In order to succeed in that, the integrity of the chain is required. Popularism is a "nice to have."

[ Parent | on HN ]
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by mlyle on Saturday May 21, 2022 @04:09PM (#31461346)
> crux of Bitcoins is that its value is derived from people's belief in its value brave, but .. fail. The crux of BTC is that it is secure to attacks while moving assets that are represented digitally.

Assets whose value is derived from peoples' belief in their future value.

A perfectly secure chain moving around assets that no one values isn't very interesting.

[ Parent | on HN ]
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by FPGAhacker on Saturday May 21, 2022 @03:43PM (#31461106)
gp > “belief in its value”

p > “assets that are represented digitally”

Those seem equivalent to me.

[ Parent | on HN ]
Re:.01% of Bitcoin holders hold 27% of all Bitcoin by ch4s3 on Saturday May 21, 2022 @07:43PM (#31463332)
Yeah, that's kind of what I'm saying.
[ Parent | on HN ]