Bitcoin.
>Hypothetical store of value
>Created by humans and relies on miners to behave well
>Is designed to become less secure for each halving.
Silver.
>Has been used as a store of value for thousands of years.
>Relies on the laws of physics not changing
The market cap of silver is 90 % lower than Bitcoin.
Imagine being the retard who holds Bitcoin instead of Silver:
money.visualcapitalist.com
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youtu.be
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in fact bitcoin became more secure with each halvening.
If you have 47 minutes to waste this is actually a good watch.
If I understood this correctly he's saying bitcoin's existence requires miners to be incentivized to mine but miners get less and less BTC each day meaning price needs to always go up to keep it running. Doesn't seem sustainable to me, what happens when 99% of BTC is already mined?
silver was also created by humans you retard
>what happens when 99% of BTC is already mined?
i guess price goes up because it becomes even more rare?
Not sure BTC would be more rare, the miners would just be getting incrementally fewer BTC. The price would need to have a parabolic price increase at some point or miners turn off their machines, at some point it would all break down, right? Or am I misunderstanding it
Ka-ching, you win #1 price as high IQ Jow Forumschad!
You are correct sir, and once the masses start to realize this then BTC will get dumped, HARD!
I love the FOMO threads popping up now. This is going to drive up the price with demand.
Keep it up OP
Difficulty accounts for this - less miners, more pay. The price has been consistently rising as well since it has such a small supply. Back when BTC was new it was way less profitable to mine
No, people will always mine bitcoin unless its $0 which will never happen.
Theres just going to be fewer people mining if the price goes down.
When price goes down, there should be a linear drop in miners assuming fees stay the same. e.g If price drops from 10k to 9k, there should be a 10% drop in number of miners
>Fewer people will mine
>Have miners sitting on the side
>At some point some entity will have possibility to put old miners to use even though it's not profitable to mine, just to perform a 51 % attack.
>Attackers have short position in BTC while performing the attack
Bitcoin network BTFO!
But just how large are bitcoin futures?
The profit youd need from your short contract would have to cover the cost of obtaining a huge amount of mining hardware, plus the electricity bill to run all of those miners long enough to pull off an attack.
Why would you buy silver over gold? And don't come up with the 1:90 ratio difference argument.
Silver is the shitcoin of PM. If PM rally, then silver will moon like crazy.
WTF. WHO WANTS TO BUY ROCKS. DUMBASS
rich people
If I had money to throw around I'd buy it.
The attacking entity may not need to buy new hardware since they'd be using hardware which became unprofitable to use for regular mining after n:th halving.
Electricity cost would be minuscule in this context.
Bitcoin can only be safe in the long run if the price keeps going parabolic, which it can't.
Silver:
> Only had value before the Franco-Prussian war, when it was still backing currency
> Currency is now backed by gold
> Silver literally has the same value as Swarovski diamonds
How dumb of a motherfucker you have to be to invest in silver. I mean really.
Nice try brainlet. There's 1.5 billion tons of silver mined up. That's 48000000000000 ounces and 768000000000000 dollars.
amp dot jmbullion dor com/investing-guide/james/silver-supply/
silver will have high industrial usage in the future dude
>> Currency is now backed by gold
What?
Silver is a former monetary metal which is used mostly in industry now.
It's seen as prudent investing to put ~5% of your portfolio into gold as a diversification strategy, it's contrarian thinking to invest in silver for the same reason but that's how you make real money.
Only time will tell if us silver chads were correct.
SILVER CHADS
$20+ EOM.
>Don’t use an argument I don’t like even if it makes sense!
Silver has far more industrial use then gold
Silver is pumping to the moon right now
The achilles heel of mining is the running costs, thats why bitcoin is so illustrious in china, cheap running costs = cheaper bitcoin mining.
There is a documentary that shows whole warehouses in china dedicated to mining on a ridiculous scale.
youtu.be
In this video bitcoin was around $300 usd, let that sink in for a second, imagine how much money these guys have now.
Crypto is a big part of the future and without control the US slowly loses its dominancy.
Millions have been killed in order to keep Oil trading in USD.
America needs to control the supply, which is why bitcoin will become redundant, as well as its catabolic unsustainable price increases.
There are definitely a few bull runs left with ridiculous new ath, at which point the powers that be will convert to an alternative currency or gold before the biggest crash you ever done saw.
>Silver while having 90 % lower market cap than BTC.
lie
Lol, it's not.
Maybe start by checking the link in the post?
imagine still making faggot ass "imagine not doing this..." posts. god when will this die. everyone is so fucking unoriginal these days