Post
Topic
Board Bitcoin Discussion
Re: why can't bitcoin be based on something that has value?
by
owlcatz
on 30/06/2022, 00:05:44 UTC
AND you picked out about 7 words out of an entire paragraph taking it completely out of context, but no need to worry.

here's another thing I realized about gold vs bitcoin maybe you have something to say about this: gold doesn't require any further maintenance costs after it has been mined and refined and put into a nice shiny gold block. bitcoin does. bitcoin requires an entire infrastructure behind it in to be in constant operation in order for it to be used. so in that sense, every bitcoin has an ongoing cost to the network whereas gold doesn't. gold is more environmentally friendly than bitcoin once it has been mined.


Bitcoins sitting in a dormant wallet do not require anything but the blockchain continuing, which at this point, is pretty much never going to stop in our lifetimes, even if we wanted it to fail.

You should have said "Every MINED bitcoin has an ongoing cost to the network" instead I guess, but not really the point:

Gold, sure ... It's gold, from the ground, with not a fixed supply, unlike BTC. It also WEIGHS a LOT, it requires safe storage, is difficult to transfer across borders, and is just a pain in the ass overall - So, I'd rather have all my $ in Bitcoin than in Gold personally. Smiley

To each their own, amirite? Roll Eyes