I am pretty confident we are the new wealthy elite, gentlemen.

[BlindMayorBitcorn]

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

.. quite sure that you've missed mine.

There is only ONE bitcoin blockchain that will never have more than 21 million tradeable units. The bootstrap phase is already over, bitcoin is money, end of story. If you think you can bootstrap similar network effect value into a competing decentralised blockchain and computing hash-backed secure transaction network, good luck to you. Altcoins

If Bitcoin dumps any lower we will have to bootstrap it again

[1714144020]

1714144020

[1714144020]

1714144020

[turvarya]

Gold's chemical, electrical, and even some of its physical properties make it such that its rarity is the only thing keeping humans from using it in a variety of ways on a daily basis.

Blockchains are everywhere now. Useful, but not rare

... this is a typically naive objection. Rarity is a necessary but not sufficient condition for money to have value and only one of many monetary properties that a free market evaluates when arriving at valuations.

You have much reading to do, google "subjective theory of value". Ever tried poking 100 ounces of gold through your internet jack to get it to instantly pop out on the other side of the world in your trading partner's hands?

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

That's like saying, Gold isn't rare, because I can take a rock and paint it with golden color.

[BlindMayorBitcorn]

Gold's chemical, electrical, and even some of its physical properties make it such that its rarity is the only thing keeping humans from using it in a variety of ways on a daily basis.

Blockchains are everywhere now. Useful, but not rare

... this is a typically naive objection. Rarity is a necessary but not sufficient condition for money to have value and only one of many monetary properties that a free market evaluates when arriving at valuations.

You have much reading to do, google "subjective theory of value". Ever tried poking 100 ounces of gold through your internet jack to get it to instantly pop out on the other side of the world in your trading partner's hands?

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

That's like saying, Gold isn't rare, because I can take a rock and paint it with golden color.

I wish people would stop saying what it's like saying and concentrate on what was actually said. The false analogy just muddies the water even more.

My point was not overly controversial I think.

If a clone of Bitcoin somehow took all the hash, it would then just become Bitcoin again. But gold is uniquely useful in a number of ways that can't easily be replicated. The fact that gold is rare is the reason we don't use it more

[turvarya]

Gold's chemical, electrical, and even some of its physical properties make it such that its rarity is the only thing keeping humans from using it in a variety of ways on a daily basis.

Blockchains are everywhere now. Useful, but not rare

... this is a typically naive objection. Rarity is a necessary but not sufficient condition for money to have value and only one of many monetary properties that a free market evaluates when arriving at valuations.

You have much reading to do, google "subjective theory of value". Ever tried poking 100 ounces of gold through your internet jack to get it to instantly pop out on the other side of the world in your trading partner's hands?

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

That's like saying, Gold isn't rare, because I can take a rock and paint it with golden color.

I wish people would stop saying what it's like saying and concentrate on what was actually said. The false analogy just muddies the water even more.

My point was not overly controversial I think.

If a clone of Bitcoin somehow took all the hash, it would then just become Bitcoin again. But gold is uniquely useful in a number of ways that can't easily be replicated. The fact that gold is rare is the reason we don't use it more

If all the gold miners would start mining coal instead. Coal would become gold. Wait, what?
Sorry, but your statements are just perfect for "false analogies" since they don't make much sense.
I don't know, what is so hard to understand about: There will just be 21 million bitcoin ever and a dogecoin is not a bitcoin. So, Bitcoin are rare.

[BlindMayorBitcorn]

Gold's chemical, electrical, and even some of its physical properties make it such that its rarity is the only thing keeping humans from using it in a variety of ways on a daily basis.

Blockchains are everywhere now. Useful, but not rare

... this is a typically naive objection. Rarity is a necessary but not sufficient condition for money to have value and only one of many monetary properties that a free market evaluates when arriving at valuations.

You have much reading to do, google "subjective theory of value". Ever tried poking 100 ounces of gold through your internet jack to get it to instantly pop out on the other side of the world in your trading partner's hands?

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

That's like saying, Gold isn't rare, because I can take a rock and paint it with golden color.

I wish people would stop saying what it's like saying and concentrate on what was actually said. The false analogy just muddies the water even more.

My point was not overly controversial I think.

If a clone of Bitcoin somehow took all the hash, it would then just become Bitcoin again. But gold is uniquely useful in a number of ways that can't easily be replicated. The fact that gold is rare is the reason we don't use it more

If all the gold miners would start mining coal instead. Coal would become gold. Wait, what?
Sorry, but your statements are just perfect for "false analogies" since they don't make much sense.
I don't know, what is so hard to understand about: There will just be 21 million bitcoin ever and a dogecoin is not a bitcoin. So, Bitcoin are rare.

What if a decade from now a sidechain of Bitcoin is forked and takes all the hash? scBTC and BTC would not be that different. But Gold and Coal are..quite different

[turvarya]

Gold's chemical, electrical, and even some of its physical properties make it such that its rarity is the only thing keeping humans from using it in a variety of ways on a daily basis.

Blockchains are everywhere now. Useful, but not rare

... this is a typically naive objection. Rarity is a necessary but not sufficient condition for money to have value and only one of many monetary properties that a free market evaluates when arriving at valuations.

You have much reading to do, google "subjective theory of value". Ever tried poking 100 ounces of gold through your internet jack to get it to instantly pop out on the other side of the world in your trading partner's hands?

You missed my point maybe. If rarity is a necessary condition, and blockchains aren't rare...

Because logic.

That's like saying, Gold isn't rare, because I can take a rock and paint it with golden color.

I wish people would stop saying what it's like saying and concentrate on what was actually said. The false analogy just muddies the water even more.

My point was not overly controversial I think.

If a clone of Bitcoin somehow took all the hash, it would then just become Bitcoin again. But gold is uniquely useful in a number of ways that can't easily be replicated. The fact that gold is rare is the reason we don't use it more

If all the gold miners would start mining coal instead. Coal would become gold. Wait, what?
Sorry, but your statements are just perfect for "false analogies" since they don't make much sense.
I don't know, what is so hard to understand about: There will just be 21 million bitcoin ever and a dogecoin is not a bitcoin. So, Bitcoin are rare.

What if a decade from now a sidechain of Bitcoin is forked and takes all the hash? scBTC and BTC would not be that different. But Gold and Coal are..quite different

If they would not be that different, why would scBTC take all the hash? You are just making things up.
If coal in a decade would develop the same attributes as gold, it would overtake gold.

[Erdogan]

Resurrection of the elite thread is normally bullish, but this time it is stuffed with trolls, so, bearish.

[ChuckBuck]

Resurrection of the elite thread is normally bullish, but this time it is stuffed with trolls, so, bearish.

What's the opposite of wealthy elite?

Destitute commoners maybe?  Someone should start that thread for us...

[QuestionAuthority]

That's what I tell homeless that try to bum from me in San Francisco (there's a lot of them), sorry I don't carry cash - only bitcoins.

[Gumbork]

Resurrection of the elite thread is normally bullish, but this time it is stuffed with trolls, so, bearish.

What's the opposite of wealthy elite?

Destitute commoners maybe?  Someone should start that thread for us...

the near future

[BayAreaCoins]

That's what I tell homeless that try to bum from me in San Francisco (there's a lot of them), sorry I don't carry cash - only bitcoins.

Same

[Bitware]

I've offered bums jobs and meals. They never accept the offers.

[Parazyd]

I've offered bums jobs and meals. They never accept the offers.

Of course they don't. Maybe meals sometimes, but they'll never accept a job.

[LiteCoinGuy]

I've offered bums jobs and meals. They never accept the offers.

Of course they don't. Maybe meals sometimes, but they'll never accept a job.

thats why they are bums.

[15Lemon714]

New wealthy elite?  ahahaha

Talk when/if Bitcoin is ever at 10.000k and i am still holding 200coin then i have a few bob but far from a wealthy elite lol

Wealthy elite own billions we are mere middle class wanna b's

[CoinCidental]

New wealthy elite?  ahahaha

Talk when/if Bitcoin is ever at 10.000k and i am still holding 200coin then i have a few bob but far from a wealthy elite lol

Wealthy elite own billions we are mere middle class wanna b's

if you only have 200 you will not likely be "elite" in this world
200k though you would be sitting pretty

[SirChiko]

I've offered bums jobs and meals. They never accept the offers.

Of course they don't. Maybe meals sometimes, but they'll never accept a job.

thats why they are bums.

Well few people think they are discriminated and sometimes they would accept it, only assholes don't.

[QuestionAuthority]

New wealthy elite?  ahahaha

Talk when/if Bitcoin is ever at 10.000k and i am still holding 200coin then i have a few bob but far from a wealthy elite lol

Wealthy elite own billions we are mere middle class wanna b's

if you only have 200 you will not likely be "elite" in this world
200k though you would be sitting pretty

That depends entirely on how long you plan on living. If you were cryogenically frozen with a paper wallet and are revived 150 years from now you could be holding a large percentage of the one world currency.

[SirChiko]

New wealthy elite?  ahahaha

Talk when/if Bitcoin is ever at 10.000k and i am still holding 200coin then i have a few bob but far from a wealthy elite lol

Wealthy elite own billions we are mere middle class wanna b's

if you only have 200 you will not likely be "elite" in this world
200k though you would be sitting pretty

That depends entirely on how long you plan on living. If you were cryogenically frozen with a paper wallet and are revived 150 years from now you could be holding a large percentage of the one world currency.

Or own nothing of forgotten currency? 150 years is too optimistic

[picolo]

I've offered bums jobs and meals. They never accept the offers.

Of course they don't. Maybe meals sometimes, but they'll never accept a job.

thats why they are bums.

Some would accept jobs and had jobs but got hit hard by life. They usually made many mistakes and usually don't really want to go out of the street.