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by zhte415
2875 days ago
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The speculation value of bitcoin dominates the use store of value, well, value. It is a speculative instrument at this point. Yes, a nice proof of concept, but now an instrument of speculation with a net negative yield. Gold mining was of kinda stable fixed supply for millennia, then after the 'miners' in Johannesburg discovered half of the world's gold beneath their feet and industry progressed, became of productive value. As of diamonds today. Bitcoin is of value there. It proved the blockchain, fantastic achevement. But like a natural vs synthetic diamond, of little future value. Further resources invested mining it are seeking returns which will not tend to zero but end in negative. Ethereum, the blockchain which no one fully understands or trusts, the left to Bitcoin's right. Pivotal ideas, yes. And the end is a long way away. |
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