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dannyf

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  1. What makes you think people who only want exposure to the gold price and don’t want want physical gold, so use synthetic etfs and so on, would be trying to convert to physical? They have products that can’t be redeemed for physical, just financial products. How would that drive up physical gold demand?
  2. Go ahead, change those properties of bitcoin. Change the limited supply and let’s split the extra. I get your point but saying they are not similar in any way is just plain wrong. Anyway, back to gold
  3. Durability, portability, divisibility, uniformity, limited supply, and acceptability. Yea, not similar *in any way* (I hold both, but am obviously underwhelmed with the performance of the gold through a financial crisis and covid)
  4. You’re right that the energy cost to mine is the cost to secure the chain. If fewer people mine because it’s less profitable, then the remaining miners get more of the proceeds and may get pushed back into profit (but with a reduction in security). Nobody really knows what will happen when this is only from fees, but it’ll be a slow transition as the block reward continues to halve. If bitcoin is successful and widely adopted, then value would have to be way above what it is now and so the fees on chain would hopefully still support good security. Lightning offers the possibility to scale in a second layer with much smaller fees, but each channel still needs to be opened on the main chain and have appropriate fees. I’m no expert but I guess there will be some trade off between immediate persistence on chain for a higher fee vs smaller lightning fees, and this will change as (if) bitcoin becomes more widely used and the on chain fees increase with demand
  5. The reward afterwards will only be the transaction fees
  6. Please go further back to when he was telling everyone xrp/ripple was the future… 😂
  7. The same happens with all assets. Gold also bounces off round numbers. It’s human nature
  8. How can you end up with huge debts if bitcoin is certainly going to zero? I don't understand your logic. Unless you aren't as sure as you make out. Certainly not sure enough to put any money on the line.
  9. Seems it’s time to leave this thread to the anti crypto folk for a while 😂
  10. Check any stock with zero yield and you’ll have your answer. “Intrinsic value” is subjective
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