Erik Voorhees
a. Scarce
b. divisible
e. cannot be counterfeited
sorry but A and B counter-argue each other.a. Scarce
b. divisible
e. cannot be counterfeited
if there is only one mona lisa.. you cannot divide mona lisa. so mona lisa is scarce/rare
but if there are 2.1quadrillion sharable units and if LN patches get their way into mainnet bips. there will be 2.1 quintillion sharable units of bitcoin
Gold is also considered scarce but you can theoretically divide each gram to x 10^21 atoms.
Does this make gold abundant?
Same would be for diamonds, and even for the True Cross.
To shoot up to 20k and go back down to 6k is not natural. Eventually we'll see it become more stable and less swings overall.
Yeah, I've been hearing that from 2013....and probably it was the same during 2012.
The main cause is the amount of BTC held in the hands of a few individuals, and that, unfortunately, hasn't changed a bit. To negate a dump of 1000 coins in 2013 (summer) you needed 200 000$, now you need 8 million....
4. While this is true, fiat is in a way, an unreliable store of value prone to hyperinflation if a country's economy goes insane (Zimbabwe and Venezuela are fine examples) and is beyond repair.
As a national currency, bitcoin would perform poorly, being a currency with a limited amount and with no chance of being controlled fully by any governments. Due to this, the government can't create new bitcoins out of thin air to satisfy the economic needs of their country. While performing poorly as a national currency, it can still excel as an independent one due to it transcending borders without having the need to trade to your local fiat every time you need to make a purchase.
As a national currency, bitcoin would perform poorly, being a currency with a limited amount and with no chance of being controlled fully by any governments. Due to this, the government can't create new bitcoins out of thin air to satisfy the economic needs of their country. While performing poorly as a national currency, it can still excel as an independent one due to it transcending borders without having the need to trade to your local fiat every time you need to make a purchase.
So you're saying BTC would not be able to save Venezuela?
