[gonehome]

I’ve basically come to believe the argument described in the following is true: https://www.matthuang.com/bitcoin_for_the_open_minded_skepti...

Bitcoin isn’t a cash competitor, it’s a gold competitor - and it’s a pretty good one.

Part of something like gold is the shared social belief in it as a store of value. Bitcoin has this and there’s enough time and infrastructure behind it at this point that I’d bet it’s likely to keep it.

That plus its scarcity guarantee and disconnect from the federal monetary policy of any one country or bank makes me bullish on its future in the long term.

I’m also bullish on ethereum, but for different reasons.

[mrpopo]

> Part of something like gold is the shared social belief in it as a store of value.

Gold has inherent uses as a precious metal. Bitcoin mining only computes SHA256 hashes for no actual purposes.

[paxys]

Gold's market value has nothing to do with the fact that it is also has some uses as an actual metal. The vast majority of it will always be kept in a vault.

[gonehome]

It’s worth reading what I linked. Gold’s inherent utility as a metal is largely irrelevant.