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Author Topic: 6 Bn ounces of gold and the value of bitcoin  (Read 2333 times)
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August 26, 2013, 01:36:54 PM
 #21

There is no hubbub. Money trades against everything on the market, that follows from the very definition of money, therefore money also trades against any other money type on the market.

You agree with the rest of my points?

Yes, except for the quantum computer hubbub  Smiley

That was goofy.  The point i wanted to make is this: 
It's unlikely that 5000 years ago anyone could have predicted today's tech -- the wheel epitomised the bleeding edge of technology ~3000 BC.  There's nothing to suggest Bitcoin, being closely linked to today's tech, will be remembered as a historical footnote in 5k years.  And i'm relying only on linear, not exponential growth Smiley
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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August 26, 2013, 02:40:19 PM
 #22

There is no hubbub. Money trades against everything on the market, that follows from the very definition of money, therefore money also trades against any other money type on the market.

You agree with the rest of my points?

Yes, except for the quantum computer hubbub  Smiley

That was goofy.  The point i wanted to make is this:  
It's unlikely that 5000 years ago anyone could have predicted today's tech -- the wheel epitomised the bleeding edge of technology ~3000 BC.  There's nothing to suggest Bitcoin, being closely linked to today's tech, will be remembered as a historical footnote in 5k years.  And i'm relying only on linear, not exponential growth Smiley

I agree, we can know nothing that far in the future. Currently, the brand of gold as it is engraved in the mythosphere is hard to compete with.
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