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If this is really your perspective then tone down the condescension. BTC is only viable due to the poor policies of the Trump administration.
Gold has utility. BTC has no usability beyond being a cryptocurrency. I can make things with gold.
Not only that but Bitcoin is very limited as far as where you can spend it not a lot of places take it in order to actually utilize it for the most part you have to trade that in for whatever current value it may be whether it's $100 or $50,000 depending on how much the price has been manipulated at this point. And just like gold it's volatile it's going to all depend on what an arbitrary amount set is worth. And with more regulation Bitcoin becomes more and more useless as far as currency goes. I love Bitcoin I love crypto in general however I also realize how limited it is once you actually try to utilize it any sort of way. If somebody says hey I'm using it for my savings account and then next week that point is worthless because you can't catch then and nobody's willing to give you the actual money for it Cool you got a bunch of zeros and ones that are in your name and marked on a ledger someplace.
not really. IMHO gold is about as useful as aluminum or any other metal, i.e. $10/kg would be justified, but not $70k/kg, which it currently is.
like, $10/kg is real usefulness, the remaining $69990/kg are people's irrational belief that gold is valuable somehow.
Golds utility as a currency is that it doesn't tarnish or rust meaning you can keep it around for a long time and use it as an in-between unlike say food, it's also generally lighter than cloth, manufactured goods, or raw materials. Same generally applies to silver, copper, and copper alloys, though to a lesser extent for copper and it's derivatives though thats made up for by its recycling capacity and utilities.
Is there any value in being the hardest form of money in existence, objectively 🧐🧐🧐
Edit: the condescension is helpful in the long run. People hate Bitcoin/hate people who invest in Bitcoin are very unlikely to invest in Bitcoin. Therefore more for me, again!
Lol ok. Enjoy bud.
Yes, it is durable, portable and compact. We can all agree on the fact you can make things with it.
Is there any value in something that holds no real utility or real value?
There is tons of utility! Intrinsic value, not like gold no.....but utility, absolutely.
No there is no utility. You cannot do anything with crypto whereas I can make all sorts of stuff from gold as it is a real physical object.
Do you invest in gold? Does your pension plan?
No, and they might
If your pension plan does, it's not real gold right? Who has it? Are you sure? Are the records transparent?
It’s held in reserve by a bank if they are invested directly in gold. Who is holding your crypto? Oh that’s right no one is.
Lololol no one is. Ok. God damn I guess I am going to get rich with arguments like this......
If your crypto is immaterial no one can hold it
Crypto is not immaterial, there is a digital (digital stuff exists in the real world, since it's not fairy magic) copy of all Bitcoin transactions spread all around the world. Without the physical presence of nodes, bitcoin would not exist.
Also, Crypto does not equal Bitcoin.
You might want to look up what immaterial means. You are very wrong in your assertion due to this misconception. You cannot hold a bitcoin in your hand because it is immaterial.
All crypto is immaterial.
Fiat currency is immaterial. So much so that it can literally be created out of thin air.
no it isn’t I have bills in my pocket.
Oh my god you don't even know what fiat currency is.
Okay I think we're good here
I know what fiat currency is. You seem not to which considering your lack of understanding of what “immaterial” means is unsurprising.
Uhhhh ok if you want to be pedantic, crypto is not immaterial as it exists as matter (the hardware holding the blockchain).
I guess I was under the impression you were using it to mean "without physical value" even though that's not the definition. I figured you couldn't possibly be trying to argue that there is no physical matter involved in Bitcoin.....
“Uhhhh ok if you want to be pedantic, crypto is not immaterial as it exists as matter (the hardware holding the blockchain)”
That still does not make it material. Your coins are not physical objects. They are numerical strings.
Immaterial means either of no consequence OR not physical. IF my pension plan holds gold someone holds that physical material. There is no physical version of your coins. This is why. yall have to default to “code is law” because there is no physical asset to hold.
Again your ignorance of common words is something you should work on.
OOHHHHHHH there's no physical Bitcoins, THAT'S why it's a scam!
Shit, I wish I had figured this out before. Thank God you came along to open my eyes 🤣🤣🤣
All this time I thought Bitcoin Inc had my real bitcoins safely in storage. How could I be so fucking stupid?
I won't be replying as I'm now going to jump off a bridge given how badly I've been intellectually bested. I simply cannot go on any longer now that the truth behind Bitcoin has been revealed to me.