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To: Boogieman
True, it has no real backing, but it is similar to gold in the fact that cryptocurrencies have a built-in rarity and cannot simply be cranked out in great amounts like fiat currency. In fact, gold production can be ramped up much easier than cryptocurrency production, once a certain plateau is reached.

Relatable in production philosophy doesn’t make them similar overall or the same in any way. I can still go to my safe or a lock box & hold gold coins, or gold flake, or bullion. Cryptocurrency is vapor & on top of that it’s ridiculoysly hard & mildly complicated to purchase things with cryptocurrency (something you can’t do in person, without computers).

49 posted on 01/18/2018 12:54:04 PM PST by brent1a
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To: brent1a

“Relatable in production philosophy doesn’t make them similar overall or the same in any way.”

No, just similar in a certain way.

“I can still go to my safe or a lock box & hold gold coins, or gold flake, or bullion. Cryptocurrency is vapor...”

Well, so are the “dollars” in your debit card or bank account. Sure, you can convert them into something you can hold in your hand, but most of the time, they are just ones and zeroes out there in the ether, just like bitcoins.

“on top of that it’s ridiculoysly hard & mildly complicated to purchase things with cryptocurrency (something you can’t do in person, without computers).”

The same could be said of the early days of credit cards, but they are universally adopted now. If cryptocurrency turns out to provide a similarly valuable service, I expect we’ll see a similar type of adoption commercially.


53 posted on 01/18/2018 1:14:31 PM PST by Boogieman
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