Post
Topic
Board Economics
Re: Crypto vs Fiat
by
adzino
on 19/08/2021, 16:58:16 UTC
Yes but the pump will come to an end and why people consider it a store of value or a great investment vehicle, one shouldn't forget that hardly any asset can also drop as fast as Bitcoin. If Bitcoin is once worth $10 trillion in total market capitalization and it gets hacked, well, gold can't be hacked at least. That is a risk that doesn't exist. Could it be produced synthetically? So far it sounds unrealistic and we probably would find out about it in a more timely manner than we would find out about Bitcoin being hacked and crushed. I am absolutely pro Bitcoin by the way, this is just some food for thought.
Lol, how do you hack bitcoin? You can't hack bitcoin or the network. The hacks that you are hearing about are security flaws on different exchanges. It's the exchange that gets hacked and all coins stolen. As long as you are storing your coins in a safe place and make sure you are taking all security measures, no one can hack your coins. Just like bitcoins which can be stolen, gold can also be stolen too. Read the history. You will know how the government snatched/stole golds from their citizen. At least they can't do that with bitcoin.