Topic: Why better tech can't kill Bitcoin - page 7. (Read 5299 times)
It was a comparison between the sports card bubble and the altcoin bubble. Had nothing to do with comparing bitcoin to beanie babies or sports cards.
^^Finally! Someone clearheaded enough to grasp that bitcoins are like any other collectible with artificially limited supply.
Like sports cards. Like Beanie Babies.
Like sports cards. Like Beanie Babies.
Like gold.
Well no, not like gold.
Gold has a naturally (not artificially) limited supply. No matter how many people come to a consensus to increase gold supply, it can't be done. 21 million coin cap can be changed via a soft or a hard fork.
That said, you're partially correct. Gold gained its value because TPTB (ancient kings, warlords, chieftains, whatever they were called) once used it to measure their might. It was difficult to get & couldn't be easily counterfeited, so a natural choice. So much of gold's value comes from tradition -- its history, thousands and thousands of years being used for dicksizing by TPTB.
Unlike Bitcoin's 7-year history of not being used by anyone of consequence
^^Finally! Someone clearheaded enough to grasp that bitcoins are like any other collectible with artificially limited supply.
Like sports cards. Like Beanie Babies.
Like sports cards. Like Beanie Babies.
Like gold.
^^Finally! Someone clearheaded enough to grasp that bitcoins are like any other collectible with artificially limited supply.
Like sports cards. Like Beanie Babies.
As if bits being traded on Magic: The Gathering website* wasn't enough of a clue
*Mt.Gox
Like sports cards. Like Beanie Babies.
As if bits being traded on Magic: The Gathering website* wasn't enough of a clue
*Mt.Gox
"We are often absorbed by the get rich quick hype forced on us by past successes of the few that were lucky enough to find and keep what was once considered nearly worthless.
In the 80's and early 90's we saw just that. Before the 80's sports cards were pieces of cardboard packed in with a stick of gum. They were worth nothing and often used in the spokes of bicycles, stored in children's wallets or glued to cardboard and hung on the wall. Their destruction had a whole lot to do with their later financial success. The initial distribution was minimal and with an added destruction along with a fascination for childhood memories the price rose fast on those worthless sports cards that still existed. This was the start of the sports card bubble of the 90's. Demand grew because people were cashing out big profits on something that people considered garbage ten years earlier. This caused a sudden increase in investments in sports cards produced in the early 90's with investor hopes that their purchases would produce a future fortune. Unfortunately as demand grows so do the companies and their production. People bought the overproduced cards of the late 80's and 90's, barely touching them, they took the cards from the packs and put them directly into cases, or sports card specific storage boxes, keeping them in mint condition. Since these cards were over bought and over produced and in perfect condition they are now worth close to nothing.
Not long ago we witnessed something very similar. Before the digital currency craze their was just Bitcoin. Thousands of these digital tokens were used to purchase a pizza or a drug dealer used Bitcoin to purchase narcotics online. Many were stored on hard drives but eventually a lot of these hard drives were lost or thrown away. With a fixed and limited amount, and many lost or misplaced, all of a sudden the price of Bitcoin started to rise nicely bringing some very lucky individuals fortunes overnight. As the demand grew so did the variety of coins and the production of these alternative coins skyrocketed to meet demand. People bought the coins and put them directly into cold storage hoping for their future fortune. Like sports cards of the 80's and 90's, few have been lost or destroyed and they are being over produced and over bought. Alternative coins will never match Bitcoin because the distribution will never be as perfect as the distribution of something that initially had absolutely no value. There will never be a more technically advanced digital token that can take this particular characteristic away from Bitcoin, the perfect initial distribution. The perfect digital gold."
Source:
https://www.linkedin.com/pulse/why-better-tech-cant-kill-bitcoin-thomas-bartsch?trk=prof-post
In the 80's and early 90's we saw just that. Before the 80's sports cards were pieces of cardboard packed in with a stick of gum. They were worth nothing and often used in the spokes of bicycles, stored in children's wallets or glued to cardboard and hung on the wall. Their destruction had a whole lot to do with their later financial success. The initial distribution was minimal and with an added destruction along with a fascination for childhood memories the price rose fast on those worthless sports cards that still existed. This was the start of the sports card bubble of the 90's. Demand grew because people were cashing out big profits on something that people considered garbage ten years earlier. This caused a sudden increase in investments in sports cards produced in the early 90's with investor hopes that their purchases would produce a future fortune. Unfortunately as demand grows so do the companies and their production. People bought the overproduced cards of the late 80's and 90's, barely touching them, they took the cards from the packs and put them directly into cases, or sports card specific storage boxes, keeping them in mint condition. Since these cards were over bought and over produced and in perfect condition they are now worth close to nothing.
Not long ago we witnessed something very similar. Before the digital currency craze their was just Bitcoin. Thousands of these digital tokens were used to purchase a pizza or a drug dealer used Bitcoin to purchase narcotics online. Many were stored on hard drives but eventually a lot of these hard drives were lost or thrown away. With a fixed and limited amount, and many lost or misplaced, all of a sudden the price of Bitcoin started to rise nicely bringing some very lucky individuals fortunes overnight. As the demand grew so did the variety of coins and the production of these alternative coins skyrocketed to meet demand. People bought the coins and put them directly into cold storage hoping for their future fortune. Like sports cards of the 80's and 90's, few have been lost or destroyed and they are being over produced and over bought. Alternative coins will never match Bitcoin because the distribution will never be as perfect as the distribution of something that initially had absolutely no value. There will never be a more technically advanced digital token that can take this particular characteristic away from Bitcoin, the perfect initial distribution. The perfect digital gold."
Source:
https://www.linkedin.com/pulse/why-better-tech-cant-kill-bitcoin-thomas-bartsch?trk=prof-post
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