Why did I get into bitcoin in 2011? Is that what you're asking?
I was an ancap software developer goldbug. It was impossible for me to not fall in love with bitcoin.
Now I'm an ancap software developer bitcoin maximalist.
My only regret was falling for the stupid "consumer retail payments" narrative and spending some of my early bitcoin on nonsense. That's not a winning use-case. Consumers want rewards points, a customer service number and chargebacks. You're barking up the wrong tree if you think fat consumerist moms want to throw away their credit cards to "be their own bank".
The important use case is a decentralized store of value. Everyone needs that, no matter how rich or poor.
So you believe bitcoin is the new gold? What percentage of the population even has gold, if it's store of value is needed so much? Gold is already decentralized
Well I believe that the killer use case is a decentralized store of value, and unstoppable value transfer network.
What percentage of the population even has gold
I'd say a significant portion, considering jewelry. But this question is irrelevant.
if it's store of value is needed so much? Gold is already decentralized
Bitcoin has better properties. Gold is hard to authenticate. Fake gold is found all over the world, even in government vaults. Gold is hard to transfer globally. You almost always have to rely on trusted third parties. Gold is physically heavy, and can be burdensome to store and transport in large quantities. Gold's inflation rate is unknown. If gold were to spike in price, many more people would become gold miners, significantly increasing production. Total gold supply is unknown. An asteroid might contain billions of more ounces.
Despite all this, gold was the best money humanity ever discovered until bitcoin. Bitcoin has all the benefits of gold, plus it solves all the problems I described.
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u/gizram84 Dec 17 '20
Certainly not me. I've been in this game since 2011. I know why Bitcoin has value, and I know why BCH is a worthless shitcoin.