Bitcoin discussed on Let's Talk Bitcoin!


While in i think you're right on the surface uh about the institutional capital targeting big one because it has futures it may have in etf coming up in other things but i mean those things are in a sense predicated on the usefulness of bitcoin and if the usefulness goes away those things who go way too i mean neto the capital could evaporate if bitcoin can't prove itself to be while useful in so i mean i'm just wondering kind of getting back to the gold thing you know ironically i think you could make a at least an analogy that site chains herb indicate bitcoin is gold because much as in real life gold uh you know gold was the money but you had circulating currency on top of it that substituted for that's almost sort of like side chains on a on bitcoin but layer crew abstraction that was required in order to make all all work at money and when i look at bitcoin court thursday layer to obstruction let's required in order to make bitcoin core work as money so i i think the you know if you're looking produced took gold at literally how that switching will and i agree with that to a large extent accept will horse won it has happened yet in to um you know it would make it a digital gold with that layer to abstraction but at the same time uh until again until it happens how how is bitcoin like gold i mean it it it is like it appears like gold on the surface but i think it's inverted uh in the sense of it will go goal did circulated the currency to some extent than it got these little the second layer abstraction of currency money substitutes and didn't circulate so much um and if it would just kind of sit there and occasionally move around like you said uh there can be high transaction costs for movie yet but you don't gold became what it was because it had used value whereas bitcoin declare that you.

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