[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 495 KB, 350x263, 1594705869355.gif [View same] [iqdb] [saucenao] [google]
23859372 No.23859372 [Reply] [Original]

What gives bitcoin its value when countless other carbon copies can be made at any time?

>> No.23859387

>>23859372
the fact that nobody cares about copycats

>> No.23859397

>>23859372
absolutely nothing, sell, it's over

>> No.23859406

>>23859372
The fact that you can't copy actual bitcoins

>> No.23859411

>>23859372
People's trust. It's how banks work.

>> No.23859413

>>23859387
Shit... this guys a genius, time to copy and paste the btc code and get rich !!
Thanks big brain anon

>> No.23859417

first mover advantage

>> No.23859427

>>23859372
Nothing, it should be $0

>> No.23859431

>>23859372
people give it value, no one cares about the copies. creating copies isn't the same thing as inflation.

>> No.23859441

Faith. That which is perceived to be real is real in its consequences.

>> No.23859500

>>23859372
first-mover advantage, longest history

>> No.23860193

>>23859372
hashrate nothing else
if miners move to another chain BTC is done
but they why would they move
BCH will kill BTC

>> No.23860212

What gives gold it’s value vs tungsten or something similar

>> No.23860279

>>23859372
What gives anything value? Bitcoin is not easily replaceable because of the network effect.

People think bitcoin can be replaced like facebook replaced myspace. It doesn’t work like that the bitcoin network is enormous and decentralized. To build something like that from zero and invest to have the brand recognition bitcoin has would be insane.

Plus bitcoin is actually the best crypto because it is simple. Initially people thought it would be paypal 2.0 but no. It’s actually digital gold. It’s not a meme. And just like gold. Once it got going there’s no turning back until a better gold emerges.

Bitcoin has value because it is actually conceptually the best money ever invented that actually took off. At this point every day that goes by it becomes less and less likely bitcoin will disappear and more likely it will stay for the long term. IMHO bitcoin is already sucking up value like a black hole sucks matter. Once people get it and big money pours in it will pour faster and faster which will make it better and better.

Eventually bitcoin will be the worlds largest asset and will underpin the global economy ironically though it will probably be sorta separate from the economy kinda like the economy are planets revolving around the bitcoin sun.

This will allow for an explosion of economic diversity and innovation and tokenization. Currencies will be able to be created with purpose and function in mind like we never dreamed of before. All made possible by Bitcoin. By simply existing as a mathematical and automatic predictive and reliable store of value

>> No.23860301

>>23859372
the length of the chain of blocks

>> No.23860331

>>23859372
what gives usd any value when more can be printed at any moment?

>> No.23860363

It's relatively wide distribution. Notice I'm saying relatively. It's still extremely centralized. You should start thinking erc20s as money. Well you GOT wBTC of course so that counts too

>> No.23860380

>>23860331
The fact that you need it to pay taxes and buy oil.

>> No.23860444

>>23859372
network effect

>> No.23860465

>>23859441
Reddit. That what gives a platitude in expectation of upvotes.

>> No.23860470

hashrate

>> No.23860533
File: 44 KB, 492x475, 1562776174534.jpg [View same] [iqdb] [saucenao] [google]
23860533

>>23860212
Gold is incredibly useful to build electronics since its a great conductor and never rusts

>> No.23861032
File: 161 KB, 758x745, 1604423750135.jpg [View same] [iqdb] [saucenao] [google]
23861032

>>23859372
The fact that game theoretically wise there is no point in switching to a new coin. You have a decade of intertia to overcome for zero gain, only loss. You need a cartel to overthrow Bitcoin 1.0 and Bitcoin 2.0 and without gubbermint cartels never form organically. At least never for very long.
So tl;dr common sense and game theoretics prevent a Bitcoin clone from reaching adoption.
All of the above is about Bitcoin SV of course, everything else in the "crypto markets" is false advertising at best and an incompetent fraud at worst.

>> No.23861130
File: 109 KB, 568x552, 1581894738818.png [View same] [iqdb] [saucenao] [google]
23861130

>>23860212
This is like asking "why are young nubile women attractive? You could just fuck a goat instead."
No, nigga. There is something innately powerful about gold that is literally hardwired into your very being as a person. Hold a clump of gold in your hands and tell me that heavy, shiny piece of shit doesn't innately feel valuable as fuck? Pro tip: you can't. Gold is literally God's money. It has flaws, but only because humans have flaws. It will make its comeback once Bitcoin is integrated for everyday use, sometime in the next couple of decades probably (maybe 2040s). Because gold (and silver) are really fucking badass.