A Fundamental Lack of Understanding.

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Between this introduction: "Would you rather have one bitcoin, or a single ounce of gold? The answer used to be obvious. Even at the climax of the legendary 2013 rally, bitcoin was never able to reach unit-for-unit parity with gold." – Visual Capitalist: How Bitcoin reached parity with gold.

And a recent Jim Rickards interview where he mentioned "Eventually the price of A BITCOIN will be so high it would exclude the masses" (really? Thank god i dont have to use one whole bitcoin.)

In what world does one Bitcoin have to equate to an Oz of gold. Who decided those were the two comparable units (Why not sats/grams) and why don't they understand the highly divisble nature of bitcoin? It's annoying. If one Satoshi = $.001 thats fine or if one satoshi = $1 thats also acceptable. We can divide as far as we need to.

Rickards also incorrectly stated that it cost "nothing to create bitcoin, just like fiat." (Im assuming in comparison to gold ofc)…to which every crypto-enthusiast watching screamed in their head "Yeah, thank god electricity and hardware are free!"

Anyways just wanted to vent. Thanks for reading lol

submitted by /u/ArmorCladCypher
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247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


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