Do you realize I didn’t list money as one of the uses of gold?
Bitcoin can only be world-changing if the whole world decide to drop all currencies and use bitcoin as the only currency. As it stands today, so damn many cryptocurrencies, which are as annoying as currencies, forex drives me nuts.
After listening to Chamath for awhile, I’m not trusting what he said. He talks with hidden agenda.
I do. But why get too hung up on industrial usage vs more abstract usage as a currency?
In fact, using gold as currency is annoying as hell. Can you imagine using gold to buy a loaf of bread? How does the store give you changes back? Does that many gold bars/coins make holes out of your pockets?
We haven’t gone to the more advanced feature of bitcoins, its programmability. Which way is easier to pay employees? Hand out gold bars? Or use software to divvy up bitcoins and automatically store in their digital wallets?
Bitcoins has real usage value, but its price is getting into the way. Thus “no utility” now.
Absolutely. This clown is full of hidden agenda. Not to be trusted for one second.
Why do you need to trust Chamath? Just weigh the reasons he gave and think for yourself.
Because the reasons he gave can only benefit himself and not you. Because he already acquired bitcoin at a low cheap price which it probably is not going to crash back to ever again. Did you buy any bitcoin when it was at $100 a piece? If not, then his advice is no good to you.
Sound like you force me to accept gold as a currency is one of its use.
Then say I’m foolish to use gold as currency.