WondrejBtc on Nostr: Good morning, Nostr! #gm I actually got a decent amount of sleep today—over 10 ...
Good morning, Nostr! #gm
I actually got a decent amount of sleep today—over 10 hours, lol 🤪.
Anyway, yesterday I had an interesting debate with my uncle. He yells about #bitcoin quite often and holds gold, so when he started again about “worthless code,” I fired back with gold.
I asked him why I shouldn’t trust Bitcoin more than gold, since if humanity figures out how to produce energy more efficiently, the current limitations on extracting gold from the ocean and universe might no longer apply.
At that point, mining gold on earth could become less profitable.
Also someone might even figure out a way to do these things with gold just efficiently without switching to a different energy source—one that currently makes these methods unviable.
In that scenario, the circulation of gold would skyrocket beyond imagination, which should push the price down, considering that even something as simple as a mine explosion—reducing the gold supply—affects its price.
This premise doesn’t apply to Bitcoin because no matter how much energy production scales up, you still can’t mine more of this “worthless” code than the protocol allows.
He insisted that’s not how it works and that extracting gold from space or the ocean wouldn’t really impact its price on Earth because that would be “natural gold.”
So I just told him, “But it’s the same chemical element,” and he rage-quit the conversation, saying, “That’s just not how it works.”
Wtf, what do you #nostr guys think?
I actually got a decent amount of sleep today—over 10 hours, lol 🤪.
Anyway, yesterday I had an interesting debate with my uncle. He yells about #bitcoin quite often and holds gold, so when he started again about “worthless code,” I fired back with gold.
I asked him why I shouldn’t trust Bitcoin more than gold, since if humanity figures out how to produce energy more efficiently, the current limitations on extracting gold from the ocean and universe might no longer apply.
At that point, mining gold on earth could become less profitable.
Also someone might even figure out a way to do these things with gold just efficiently without switching to a different energy source—one that currently makes these methods unviable.
In that scenario, the circulation of gold would skyrocket beyond imagination, which should push the price down, considering that even something as simple as a mine explosion—reducing the gold supply—affects its price.
This premise doesn’t apply to Bitcoin because no matter how much energy production scales up, you still can’t mine more of this “worthless” code than the protocol allows.
He insisted that’s not how it works and that extracting gold from space or the ocean wouldn’t really impact its price on Earth because that would be “natural gold.”
So I just told him, “But it’s the same chemical element,” and he rage-quit the conversation, saying, “That’s just not how it works.”
Wtf, what do you #nostr guys think?