ChrisAlaimo on Nostr: My favorite analogy is the one Saylor gave 3-4 years ago at this point. If you had $1 ...
My favorite analogy is the one Saylor gave 3-4 years ago at this point.
If you had $1 billion dollars of value you needed to move from NYC to LA and you had gold and bitcoin.
With gold you would need about 100 man hours of logistics, plane time, armed security, brinks trucks etc and it would cost ~$1,000,000 for it all.
With bitcoin if you wanted to move $1billion of Bitcoin it would take ~1 hour and $5.
Old networks are replaced by new networks when they are 10x better.
Gold - ($1,000,000 x 100 hours =100,000,000 hours·$
Bitcoin - $5 x 1 hour = 5 hours·$
With this back of the napkin math Bitcoin is at least 20,000,000 times better than gold. I know this can be argued here and there but bitcoin is by far far better than 10x even 100x better than gold.
If you had $1 billion dollars of value you needed to move from NYC to LA and you had gold and bitcoin.
With gold you would need about 100 man hours of logistics, plane time, armed security, brinks trucks etc and it would cost ~$1,000,000 for it all.
With bitcoin if you wanted to move $1billion of Bitcoin it would take ~1 hour and $5.
Old networks are replaced by new networks when they are 10x better.
Gold - ($1,000,000 x 100 hours =100,000,000 hours·$
Bitcoin - $5 x 1 hour = 5 hours·$
With this back of the napkin math Bitcoin is at least 20,000,000 times better than gold. I know this can be argued here and there but bitcoin is by far far better than 10x even 100x better than gold.