You cant hold it - touch it. It only existences inside a computer, as long as there is electricity. It has no intrinsic value. It does nothing - it’s nothing - just a made up code. What does it do, represent something else? Another fiat?
While Bitcoin is all digital, the value for it is completely legitimate.
What makes gold valuable PRIMARILY?
rarity… it’s not that easy to find.
cost to mine it and refine it is high.
It can be melted down and made into jewelry, which is really just another form of “holding gold” investment.
What makes BTC valuable PRIMARILY?
rarity… there are only 21m of them.
electricity cost to mine 1 bitcoin is incredibly high in most parts of the world. It also requires a great amount of luck to be the one to win the block reward.
it can be transacted globally instantly without any middleman or government able to stop you from doing that.
it cannot be seized (like gold was), they can try but there is no physical means to enforce it or easy ways to prove who owns what btc’s.
How is BTC stored? On a server? Can a server be seized?
You dont see any othee primary value in just Gold (excluding other metals?)
Electrical conductivity, thermal properties, antiseptic properties. The fact that it makes up part of the microchip that the BTC exists - perhaps it has more value than the BTC itself, considering it gives it life.
It doesn’t even need energy to exists once it has been mined and really, small scaled mining (panning) doesn’t take much human energy.
Jewelry isn’t really a practical use in my opinion.
While BTC itself is traceable, it is very easy to store BTC in a fresh wallet that has no history to it, and thus making it effectively impossible to know who owns it. The exact reason we still don’t know who Satoshi is still.
Re: storage
It’s stored on the public ledger. Not on any server or computer. Your wallet (which is your permission to the ledger that you own the coins within X wallet) can be stored on a piece of paper in your wallet if you want (don’t recommend it, but it literally can).
Re: value
Obviously gold has other variables that make it valuable, as does bitcoin…. These are just the most prominent reasons why gold and BTC are as valuable as they are.
It's an energetic form of value. It takes tremendous amount of power to produce BTC. Every form of money/currency has NO intrinsic value except what we give it. We call things valuable bc they're scarce or beautiful etc...but only Life has intrinsic value imho.
There's more to BTC then meets the eye. Looking at it just as money is limiting yourself to all the possibilities.
Without Gold, Silver and or Platinum you don’t have a “micro-chip” - without a microchip - you have no BTC.
My point was that there is more value in metals than BTC.
“It's an energetic form of value. It takes tremendous amount of power to produce BTC.” Can you elaborate? Something that consumes energy is a form of value?
It's called hard money (that which takes energy to produce) as opposed to soft money where all you do is turn on the printing press.
Human and electrical energy is needed to produce hard money. And, BTC is much more than money. It's a long-term store of bits of data that value has been assigned to. And, millions of people agree that it has value. Its not fiat, its not centralized, its not hackable. Its integrity is validated by thousands of miners daily. It's the way of the future. In the final analysis what's more valuable than energy??
Why do you say fuck BTC? We know the advice is to hold it, which isn't hard to do. So not sure what your point is fren.
You cant hold it - touch it. It only existences inside a computer, as long as there is electricity. It has no intrinsic value. It does nothing - it’s nothing - just a made up code. What does it do, represent something else? Another fiat?
How’s this any different than any stock?
While Bitcoin is all digital, the value for it is completely legitimate.
What makes gold valuable PRIMARILY?
What makes BTC valuable PRIMARILY?
What does “privacy” mean with BTC?
How is BTC stored? On a server? Can a server be seized?
You dont see any othee primary value in just Gold (excluding other metals?) Electrical conductivity, thermal properties, antiseptic properties. The fact that it makes up part of the microchip that the BTC exists - perhaps it has more value than the BTC itself, considering it gives it life.
It doesn’t even need energy to exists once it has been mined and really, small scaled mining (panning) doesn’t take much human energy.
Jewelry isn’t really a practical use in my opinion.
Re: privacy.
While BTC itself is traceable, it is very easy to store BTC in a fresh wallet that has no history to it, and thus making it effectively impossible to know who owns it. The exact reason we still don’t know who Satoshi is still.
Re: storage
It’s stored on the public ledger. Not on any server or computer. Your wallet (which is your permission to the ledger that you own the coins within X wallet) can be stored on a piece of paper in your wallet if you want (don’t recommend it, but it literally can).
Re: value
Obviously gold has other variables that make it valuable, as does bitcoin…. These are just the most prominent reasons why gold and BTC are as valuable as they are.
It's an energetic form of value. It takes tremendous amount of power to produce BTC. Every form of money/currency has NO intrinsic value except what we give it. We call things valuable bc they're scarce or beautiful etc...but only Life has intrinsic value imho.
There's more to BTC then meets the eye. Looking at it just as money is limiting yourself to all the possibilities.
Without Gold, Silver and or Platinum you don’t have a “micro-chip” - without a microchip - you have no BTC.
My point was that there is more value in metals than BTC.
“It's an energetic form of value. It takes tremendous amount of power to produce BTC.” Can you elaborate? Something that consumes energy is a form of value?
It's called hard money (that which takes energy to produce) as opposed to soft money where all you do is turn on the printing press.
Human and electrical energy is needed to produce hard money. And, BTC is much more than money. It's a long-term store of bits of data that value has been assigned to. And, millions of people agree that it has value. Its not fiat, its not centralized, its not hackable. Its integrity is validated by thousands of miners daily. It's the way of the future. In the final analysis what's more valuable than energy??
https://www.usgoldbureau.com/gold-confiscation#:~:text=May%201%2C%201933%20%E2%80%93%20President%20Roosevelt's,for%20%2420.67%20per%20troy%20ounce.
I’ll just leave this here