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RE: Bitcoins Death By 21 Million Cuts ... 5 Or 6 Times - Part 1
Seems like the market will speak for itself, as we are seeing with the current gold fork bullshit which seems stillborn.
There is is room for other coins for sure, but these forks are clearly a forking scam which are exclusionary by thier very nature and not compatible with free market.
For me to collect bitcoin cash or bitcoin gold I have to entrust my bitcoin with a third party is absolute bullshit.
Seems to me the market has spoken, and the self healing growth characterstics of the bitcoin are shinning through.
Bitcoin has the same intrensic value as the US dollar—nothing. The only value in either of them is the faith of those who are willing to trade for it. Ease and safety of trading also add value. They are both interesting speculations.
Comparisons of bitcoin with the USD is kinda missing the point of what bitcoin really is.
Bitcoin is the internet of money; the very first decentralized trans-national currency.
it is quite fascinating to watch the Andreas Antonopoulos talks on bitcoin to gain a deeper perspective of the value of bitcoin and what it means and holds for the future.
Its not a comparison of Bitcoin to USD -- its a comparison of the fractional reserve system to forking coins.
Actually bitcoin does have intrinsic value...it costs money to mine a bitcoin...hence giving it value. It costs nothing to create fiat.
Talk to miners and ask them when it costs to create a bitcoin in their wallet....
Costing money to mine it, doesn't actually give it an intrinsic value, it just is USD or BTC cycled back into the economy via the purchase of computer equipment (jobs) and electricity (jobs). If once electricity is spent on mining coin is coin electricity LOL joke!
In reality tho, electricty is non permanent, so it can't be argued that is the intrinsic value. If we mine steel, that doesnt make its value - the fact that it is used in all infrastructure vs total supply is where value is derived and then market forces are layered in.
BTC intrinsic value is a function of its network only this case.
There are only 3 ways to obtain Bitcoin..Buy Bitcoin with cash, Mine Bitcoin which is now very expensive for electricity and buying mining equipment, and last but not least....someone gives you bitcoin. Hope this helps~! all donations accepted here;18sbJiLrAA5ogJoktQxpe8RJ5LaSDmcqbK
Tibets should be worth a cup of coffee...WeLoveBitcoin~!!!