Bitcoin Forum

A Simple Dumb Question.

What if BITCOIN is DIGITALIZED but is being LITERALLY MINED like Gold and Silver ( MINED OVER 6 FT BELOW THE GROUND )and has a lot more value than gold, would you consider it to have an increase value over time? ; D

And If it is would you rather dig your house out of it or just stay on your sit and buy some of it ; D

This Question is Only For Dumbs ;D Let's Talk About Different Things Once For A While ; D

Edited: I think that would be more clearer now ;D

Well bitcoin is really digitalized and also being mined through a peer to peer network. If bitcoin becomes globally accepted by countries then there's a possibility that it will surpass gold in terms of price value. But honestly it doesn't need to surpass anything because both platforms has it's pros and cons and can be use to help each others growth.

Lol ;D of course bitcoin will still have value even though bitcoin can be mining,

Bitcoin supply is limited, if more and more bitcoin enthusiasts and many people from all countries buy bitcoin then this can make the value of bitcoin get higher and maybe 1 bitcoin will be very expensive.

but if bitcoin continues to be mined and bitcoin enthusiasts are getting less then the price of bitcoin will continue to down (dump) and destroy the value of bitcoin, and if it doesn't have any enthusiasts, bitcoin will have no value.

Sorry mate, I didn't make it clear. :D But thanks to your reply I noticed that it sounds a little bit dumb, I already fixed my question ;D to make it sound more DUMB than before.

Lol mate.
Bitcoin is digitalized and you can be mined this if you have an internet connection since it is digitalized I think we don't need digging deep because of bitcoin having different from gold both sides. But if there is a machine under the ground that makes bitcoin to be mined why not? (sounds like dump also, lol) ;D ;D
People always find ways on how to earn bitcoin if that will really happen, then they might start digging without having an internet connection.

(This is a wild imagination that won't happen in real life it is just having a dump reply for a dumb question) ;D ;D ;D

That's what I'm talking about you dumbass ;D It is quite an imagination but have you ever think about a thing that is only worth being DIGITALIZED hahaha. ( Like this Dumb Question, it only exist for Dumb Persons ;D )

Perhaps they should include Bitcoin mining in Minecraft  ;D :D ;)

It doesn't matter if the mining is digitaly or literally.The cost of mining is an important factor,that has some impact over the price of the asset/resource that is "mined"(it doesn't matter if it's bitcoin,gold,silver,etc.).
The increased demand for that resource will increase it's market price,which will increase the investments into it's mining.The increased oil demand+higher oil price forced new mining technologies and now we have oil platforms in the seas/oceans. 

I will definitely love that! I don't mind if I play Minecraft everyday. ;D

Well I literally get dumb reading the OP, like wth? Lol! So here's my dumbest answer.
Since the supply of gold can't be determine like what we just know it's rare, the gold's value didn't increase drastically while bitcoin have 21M finite supply then the value is increasing, not to mention the high demand.

Even gold is tangible, I won't bother to dig my house just for uncertainty.

To make things more understandable, in this situation they can be mined "physically" (example: private keys are stored in the rocks) but to get the value out of them you have to use a wallet. Demand is the only reason that would make the price go up if limited supply is out of the picture.

I would rather buy online than to risk my house just to mine physically because digging too deep might cause an earthquake in my place and you never know how much Bitcoin you'll be getting after all of that digging there's too many risks.

The question is quite confusing and weird at the same time.

That's the reason why I called it as a DUMB QUESTION for only DUMB FOLKS. ;)

Btw, what if your lot holds a treasure where tons of bitcoins are waiting wouldnt you consider digging? Hahaha, In fact you may get a new house if you find those Bitcoins residing in your place ;D



I would also love to have that ;D

I am sure the OP actually knows that already, but is looking for a way we can all play dumb to assume something that is totally out of what is going on presently. If this is the case, I really would not see any much difference than it is now when it comes to value.

Not like it is that easy to get, except for the fact that in this case, you are including manual labor which can make it easy for laborers to start digging up as much as they want, compared to the rich dudes being able to purchase miners instead. Obviously, it won't happen in real life because it is dumb, but that was the idea!

Anything can come up to your mind whenever the market is in neutral zone right? But that statement of yours is ridiculous. But at least you have tried to think something else.

Well if its gold for sure it well be a good thing as well gold have a better value as also but for now we dont need be panic we know for sure that the price in the market will gonna kick for sure  let's  just wait for  the perfect time

Well, a very nice imagination there, mate. If we can literally mine bitcoin like we mine for gold, then you will see many people trying to steal your bitcoin. People used and still conquer other countries economicaly for the purpose of digging gold. Imagine if bitcoin were tangible. Apart from gold, there is bitcoin. The whole world will attempt to dig for it. And yes, I believe the bitcoin will be as valuable as gold and silver.

It is good to be dumb and think out of sense once in a while. Really, I would rather get myself equipped to dig my house out of it as the case may be and I believe just as it is presently, it would have great value but for the fact that it is not something that easy to get, probably people might see even more value in it. If that is the case though, I guess we will have to start learning another craft entirely on proper digging.

You touched upon one of the reasons bitcoin could have a significant advantage over gold. As mining technology advances, researchers will devise more accurate methods for detecting gold underground. Better and more efficient methods of extracting gold from the earth's crust will be devised. All in all, improvements in technology could reduce the value of gold over the long term as it became a more easily obtainable and common metal.

Bitcoin is better suited to resist improvements in technology while maintaining a steady stream of allotment and distribution. Its algorithmic restrictions limit significant increases in hashpower from bitcoin being mined @ a substantially faster rate. This could be deemed a significant advanrtage over gold, precious metals and commodities over the long term.

Well actually when I first heard about Bitcoin and mining a really thought that it is mined with real excavator. Even though it's mined differently than gold it they both have a lot in common.

Bitcoin is digitalized but is being mined like gold doesn't add up. Well, to go with your assumption and answer this dumb question, I would consider it to have a strong value growth with time. It would be dumb of me if I don't have my house dug up once the presence of "golden bitcoin" is confirmed. Imagine one government coming the next day to lay claim of my house.

You are right, it is a dumb question :)

They say that there are no dumb questions, only dumb answers. They're wrong. :D
Fine, let's say it's possible to physically mine a virtual token, like you go to a mine, hit the rock, and a casascius coin with a qr code falls out. I believe it would make BTC more valuable. Now you're only limited by the amount of money that you have because equipment costs a lot of money. If you were able to mine by putting physical work into it, it would end up with another gold rush, provide people with jobs, make the whole thing more popular.

only one that is different from bitcoin and gold is bitcoin, digital virtual and gold are real, can be touched and touched, while bitcoin can't, it can only be seen, but bitcoin is superior to gold because bitcoin can be made payment and gold can only be use for investment only