Row 30936

Row ID: 30936 | Dataset Entry | Axioma AXP Content Repository

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Yes, it is different than gold. Bitcoin is a bearer asset that does not need a centralized custodian like gold. It does not need to be moved with a plane or big truck like gold. You can seamlessly transmit Bitcoin across borders, unlike gold. Bitcoin is native to the internet, unlike gold. Try transporting $1 million of gold across any border. Tell me how that works out for you at the airport. Or try shipping it somehow. Tell me the fees involved with that, if it actually does make it to its destination.

And unlike gold, the more the price goes up, miners cannot just dig for more of it. Bitcoin has a finite supply that can't be changed regardless of the price. Gold has an infinite supply.

Bitcoin is the most secure, censorship-proof, decentralized network on earth. The price to use such a network alone, justifies its price if charged per byte or by hour. We live in a digial world. The digital world is far more important than any physical asset. Even fiat is all digital now. We don't use physical money for transactions.

Transparency is a feature, not a bug. The TradFi system is broken because it is not transparent. Even when brought into the TradFi system via a wrapper, the transparency of Bitcoin is a critical function to keep the wrapper honest. Privacy coins have only 1 use; Crime. Sorry, but yes, Bitcoin is not a good tool to use for Crime. You got me on that. Don't use Bitcoin if you want to commit crimes.

Just because the rest of the world is financially illiterate and does not understand money, does not mean that the fact it is not accepted for daily goods and services makes Bitcoin somehow less valuable. 3rd party applications can be used to communicate with the dummies via Bitcoin debt cards or other means. But those 3rd party transactions are still backed by Bitcoin which is preserving your buying power.

FieldValue
text Yes, it is different than gold. Bitcoin is a bearer asset that does not need a centralized custodian like gold. It does not need to be moved with a plane or big truck like gold. You can seamlessly transmit Bitcoin across borders, unlike gold. Bitcoin is native to the internet, unlike gold. Try transporting $1 million of gold across any border. Tell me how that works out for you at the airport. Or try shipping it somehow. Tell me the fees involved with that, if it actually does make it to…
label r/cryptocurrency
dataType comment
communityName r/CryptoCurrency
datetime 2024-05-21
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Raw Record

{
  "text": "Yes, it is different than gold.  Bitcoin is a bearer asset that does not need a centralized custodian like gold.  It does not need to be moved with a plane or big truck like gold.  You can seamlessly transmit Bitcoin across borders, unlike gold.  Bitcoin is native to the internet, unlike gold.  Try transporting $1 million of gold across any border.  Tell me how that works out for you at the airport.  Or try shipping it somehow.  Tell me the fees involved with that, if it actually does make it to its destination.\n\nAnd unlike gold, the more the price goes up, miners cannot just dig for more of it.  Bitcoin has a finite supply that can't be changed regardless of the price.  Gold has an infinite supply.\n\nBitcoin is the most secure, censorship-proof, decentralized network on earth.  The price to use such a network alone, justifies its price if charged per byte or by hour.  We live in a digial world.  The digital world is far more important than any physical asset.  Even fiat is all digital now.  We don't use physical money for transactions.\n\nTransparency is a feature, not a bug.  The TradFi system is broken because it is not transparent.  Even when brought into the TradFi system via a wrapper, the transparency of Bitcoin is a critical function to keep the wrapper honest.  Privacy coins have only 1 use; Crime.  Sorry, but yes, Bitcoin is not a good tool to use for Crime.  You got me on that.  Don't use Bitcoin if you want to commit crimes.\n\nJust because the rest of the world is financially illiterate and does not understand money, does not mean that the fact it is not accepted for daily goods and services makes Bitcoin somehow less valuable.  3rd party applications can be used to communicate with the dummies via Bitcoin debt cards or other means.  But those 3rd party transactions are still backed by Bitcoin which is preserving your buying power.",
  "label": "r/cryptocurrency",
  "dataType": "comment",
  "communityName": "r/CryptoCurrency",
  "datetime": "2024-05-21",
  "username_encoded": "Z0FBQUFBQm5Lak1HLVZaRzNYZGJjRjBUazlOeWE3YU1jbS1yR3djZHMwQXJyWVJkVWFLYlJzUFlCY3RzNnRaWFRuOTIzcW54alAycnBGM24zQ1pXMmJ3TlJrT29mOUF1M3c9PQ==",
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}
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