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by frank2
2052 days ago
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>[Bitcoin] only appreciates if you can talk other people into believing it's worth more I would say the same about gold (though you probably disagree). Gold has some "intrinsic value" (e.g., as a plating on electrical conductors) but would be worth much much less if no one believed that it is a good way to store money. But perhaps more importantly, Bitcoin differs drastically from most fiat currencies in that its rate of inflation is capped: over 85% of all bitcoin that will ever be created have already been created. The same BTW cannot be said of gold, which is being mined at an increasing rate: https://fee.org/media/30406/figure-1_bitcoin_inflation.png https://fee.org/media/30407/figure-2_inflation_bitcoin_gold.... |
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