Bitcoin Forum

You can't trade with diamonds. It's a mafia.

Second, they're artifially limited...

Yes exactly...poor analogy to diamonds because the diamond market is manipulated by DeBeers and they are not rare...prices are artificially inflated.

I don't belive it matters if supply is limited by nature or DeBeers. I agree that diamonds are the real scamcoin of the present, but this was never intented as an analogy. The listed properties seem to fit crypto (too) and the concluded effects seem right.

My intention is to find a new group of properties of crypto and their effects. An example with these properties helps to argue them.

I don't know how often I've heard the comparison LTC to BTC is like gold to silver or such nonsense. Fact is crypto doesn't behave like metals or like anything on our planet. It's not a usual currency since it's properties differ far to much from standard currencies and like every other comparison it has it's flaws. It's a mistake to belive that some shared properties will result in the same behavour or price. On the other hand properties have effects and undersanding the effects of combined properties is easier by a known example.

In this threat I want to find some (new) examples of realworld stuff, their shared properties with crypto and what you belive the effects of these properties are.



Diamonds:

desirable
very limited supply
no interest or inflation
copycats with exact same or better properties exist, but original is still more worth and common

Limited supply and it's desirability can drive prices to the moon. Most people buy them because they are expensive and not because of their (unique) properties. There is some speculation with them, but if a few people start trading them prices collapse or skyrocket. Isn't really useable as currency since people want to keep them too much.


Any other ideas?

This does sum up the definition of money or store of value. Bitcoins value are more or less intangible, yet divisible, and scarce. Making it better than diamonds. Oh and globally instant payment transaction

copycats? LMAO, surely you don't mean African "blood diamonds"

No way diamonds are desirable

As I mentiont in the initial post, it's not the point to compare BTC with diamonds.



First of all definitions are bullshit, since I can define everything I want and that doesn't add new information.
Bitcoins aren't sacre at all. If you see them as Bitcoin they are very limited, but if you see them as crypto they aren't limited at all.



By copycats I meant f.e synthetic diamonds or any other imitation of diamonds. Some of them can't be identified without hightec equipment. If I launch an exact copycat of BTC there would be no difference between them besides the distribution or age. Just because you have somthing people usually wouldn't pay more for it, but strangly the oposite applies to diamonds.

Oh Sorry, the word must have been desired.

It is possible to brute force diamond. Bitcoin private keys cannot be bruteforced.

There is unknown how much diamonds can be mined. Bitcoins have known limit.

Diamonds can be accquired from other parts of galaxy. Bitcoins cannot.

Not sure that this is a valid comparison. You can't "brute force" a diamond. You can create one though.

No, you can't "brute force" aka create a "real" one. People still consider manmade diamonds far less valuable. Even if you'd argue that diamond has superiour properties that justify its price, manmade have better. Diffenences are hardly to detect, but if there is a detector it matters.


Another similarity is the lack of financial derivatives, but for that property I'd rather compare it with pennystocks.

Sure you can "brute force" a diamond: find a nice lady with a big rock on her finger, use your brute force to remove the diamond. Now you have a diamond which you didn't own before.

Not sure that this is a valid comparison. You can't "brute force" a diamond.

Crypto does not come from blood

and now i ll go and check wikipedia about DeBeers...
damn you btctalk...  :P