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A comment on Bitcoin Falls Below $400. Parent comment

Re:Bitcoin Falls Below $400 by doyoulikeworms on Thursday April 10, 2014 @11:55PM (#7571143)
> There's a reason precious metals like gold and silver have retained value for millennia

Yeah, because gold and silver are good to use as money. They are fungible, long lasting, easily identifiable, can be divided without losing total value.

Kinda like bitcoin, except it can be traded with anyone with a computer over the Internet.

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Re:Bitcoin Falls Below $400 by karmajunkie on Friday April 11, 2014 @12:25AM (#7571212)
Unlike bitcoin, however, they have the trust of most people on the planet. They can trade hands without electricity and connectivity. And people understand them, how they work as a proxy for value, and while they certainly have their drawbacks, they are mostly stable in value.

Bitcoin has plenty of uses that gold and silver can't touch. But that doesn't make it a precious metal by any stretch.

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