Earlier quoted context omitted.
> A Bitcoin is valuable because only you control it, it cannot be confiscated, it cannot be censored, and others will always be willing to buy it from you. Again, you're not using the widely accepted definition of "hard". None of those qualities give you any ability to produce a new good. None of them mean anything if the price of Bitcoin crashes. If the housing market crashes, I can still live in my house. If the Bi…
I don’t agree with your interpretation of this definition. Gold is considered hard money, yet it is only a shiny rock. It is indeed the supply, ability to debase and store of value over time that makes it a hard asset. It certainly is not satire. I believe what I wrote with great passion. I’d rather take a 51% risk (which… is not credible for many many years now) than a 100% risk my dollars are going to 0. I agree ab…
Despite its traditional value, gold is not only a shiny rock, it is an useful material in itself (it is not only used for jewelry).