This twitter account shilling for bitcoin. So can someone explain what the diffrence between bitcoin and fiat is? Besides digital vs paper? As far as i know they are both backed by nothing
A fixed supply based on what? And i call bs on "fixed supply" you can buy a fraction of a bitcoin. If i can buy .1 of a coin and .0001 then there is in fact an infinite supply. And what about "bitcoin miners"? I thought its generated that way
What practical use does a digital currency have? Gold has actual uses. The difference between .00001 of gold and .00001 of bitcoin is that that the price of that bitcoin is volatile and isnt based on anything but "a fixed supply".
You value the 'volatile' price of Bitcoin and Gold based on what? Fiat?
Remove all other currencies and bitcoin becomes worthless, just code on a computer it has no practical purpose besides a number. Gold can be used to build things, its innately valuable. So again, what innate value does a bitcoin have?
Bitcoin has two things precious metals will never be able to achieve: A secure, trackable, transparent ledger, and proof of work.
You honestly will never know the true value of gold and silver because we don't know how much gold or silver there truly is out there. There could be a million tons of gold someone is sitting on and if released into the market will cripple its value. As a matter of fact, ETFs are used to this day to manipulate the precious metals market.
Bitcoin is backed by its trust, its security, its transparency, and most importantly, energy.
So again, please educate yourself before making stupid claims.
Many wont pay attention until their bank account gets frozen and they. can no longer "netflix and chill"
This twitter account shilling for bitcoin. So can someone explain what the diffrence between bitcoin and fiat is? Besides digital vs paper? As far as i know they are both backed by nothing
They print fiat. They cannot print Bitcoin. Bitcoin has a fixed supply.
A fixed supply based on what? And i call bs on "fixed supply" you can buy a fraction of a bitcoin. If i can buy .1 of a coin and .0001 then there is in fact an infinite supply. And what about "bitcoin miners"? I thought its generated that way
A fixed supply based on the code it was programmed and cannot be changed.
And that is the most retarded argument I've ever heard. You can have 0.0001 oz of gold too. Is gold infinite then?
What practical use does a digital currency have? Gold has actual uses. The difference between .00001 of gold and .00001 of bitcoin is that that the price of that bitcoin is volatile and isnt based on anything but "a fixed supply".
You value the 'volatile' price of Bitcoin and Gold based on what? Fiat?
Christ almighty, can you please educate yourself on Bitcoin before you continue arguing?
Remove all other currencies and bitcoin becomes worthless, just code on a computer it has no practical purpose besides a number. Gold can be used to build things, its innately valuable. So again, what innate value does a bitcoin have?
Bitcoin has two things precious metals will never be able to achieve: A secure, trackable, transparent ledger, and proof of work.
You honestly will never know the true value of gold and silver because we don't know how much gold or silver there truly is out there. There could be a million tons of gold someone is sitting on and if released into the market will cripple its value. As a matter of fact, ETFs are used to this day to manipulate the precious metals market.
Bitcoin is backed by its trust, its security, its transparency, and most importantly, energy.
So again, please educate yourself before making stupid claims.