[down]

if Gold can be irrational for 2k years, I don't see why not bitcoin can't, the only think gold has going for "longer history", yet HN folk love to say "past performance are not an...bla bla", yes it also has the 5% - 10% industrial use, but bitcoin has that too by being able to transfer it without third party, so will also not go to zero because will be useful as transfer of value.

[htormey]

Well ~78% of gold is used for jewelry and only ~19% is used as a store of value:

https://goldprice.com/facts-about-gold

[shrimpx]

Jewelry and "store of value" are not mutually exclusive uses. Lots of people would buy "store of value" gold in the form of a nice necklace rather than a lump of metal.

[davewritescode]

Gold has a price floor because it has some industrial utility and is useful for making jewelry.

All that has to happen to destroy bitcoin is a flaw in the implementation.

Seriously, look at OpenSSL and tell me the same issues aren’t possible in bitcoin.

When did we get so trusting of software that we decided it’d be a good idea to base currency on a distributed algorithm?

[throwaway30yo]

The project can always fork if major issues are found.

Bitcoin is very very far from a perfect solution, but it is a solution to many problems currencies have.

[UncleMeat]

Given how hard it is for the community to do something as simple as increase the block size a tiny bit, I'm not confident that a fork could fix such a problem.

[down]

making jewelry is in the store of value spectrum, with only industrial use, would be at 5% - 10% of current price.

[24gttghh]

Aren't 'miners' the third party?