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Author Topic: Welcome to the "Bitcoin Standard"  (Read 2289 times)
bitnanigans
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June 20, 2015, 01:45:26 PM
 #21

a long time ago gold was a precious thing t and its a best way to invest yor money, gold was exist since period of moses till now,but now bitcoin is a precious thing to and its should have a standard like a gold i believe bitcoin more precious in 100 years latter,like gold

are you sure what with your opinion? what the reason you think like that
i dont think bitcoin can change gold because bitcoin doesnt have physical like gold

Being not physical is actually better. You can instantly send a large amount across the world within seconds.

This can also be a con as you can also lose a large amount within seconds if not properly secured.
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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TibanneCat
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June 20, 2015, 03:04:44 PM
 #22

The only difference is gold will never be worthless.

Indeed, gold will never be worthless and the rise of bitcoin will not make gold obsolete, just like the rise of fiat way back in the day didn't make gold obsolete. It just means the concept of value is evolving and people are flocking to easier means to store and transfer value.
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June 21, 2015, 11:45:25 AM
 #23


This can also be a con as you can also lose a large amount within seconds if not properly secured.

You mean PayCon[CON]? Yes, this one is the future of digital currencies! Grin

On a serious note gold is material. Useful and precious material. Not money. It's not even a fair comparison. It can not be worthless until we will be able to synthesize it and use for manufacturing. Bitcoin, in the mean time, can easily fall to near zero value if something goes really wrong..

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