Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
conspirosphere.tk
on 18/08/2017, 07:20:26 UTC
Centralized mining, centralized development, price based on artificial scarcity of coin count, fee system that doesn't work without artificial scarcity of block size.  The whole thing is honestly a complete joke compared to metals.  

"Centralized mining": competition will rise, see Russia announcing to enter in mining and chip production.

"artificial scarcity": money has to be scarce to have value. artificial money calls for artificial scarcity.

"fee system": see above, but I have my reservation about the BTC fee system: full blocks and large mempool means that fees are underpriced.

"Promoting that everyone on earth use the same artificially scaling constrained coin": who is that BTC maximalist? let many coins blossom and the market will choose.

"a huge step backwards from gold and silver":  You can't strike gold by holding gold. Crypto is for speculation and other advantages. Gold is just to sleep well.