Very good question, this probably leads us to the bottom of this question.
How do we define shitcoins?
As far as I know, "shitcoin" was created as another term for altcoins which was created for alternative cryptocurrencies.
Is it already consensus that this term also includes fiat now? Or everything which is not bitcoin?
Is gold a shitcoin?
Bitcoin is (21 / infinity) while also being the most censorship resistant, decentralized money on the planet. Even gold is easy to censor, and centralized by nature.
Gold is (infinity / infinity). Asteroid mining is just around the corner, and there are nearby asteroids with more gold than we have on Earth's surface.
I think Gold is a shitcoin.
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there is gold in asteroids? that’s for real?
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Of course. An ancient star fused more protons and neutrons together to form higher level elements such as gold and uranium. Then, an ancient supernova spewed these elements a half a lightyear into space, forming a very large accretion disk. Large pieces in this disk come together via gravity, forming planets. But many smaller pieces continue floating forever. Asteroid impacts are actually this gravity process continuing even in the present time.
The point of all that was to say: The Earth and Asteroids were born from the same star and are made up of the exact same stuff. Whatever elements you find on Earth, exist in the Asteroid belt between Mars and Jupiter in large quantities.
I guess I could have made this shorter and just said, "Yes, we have probes that have gotten close enough to observe large quantities of gold on nearby asteroids." Cuz we have.
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I appreciate the extra drama. Now I will not forget.
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I thought there is no doubt (especially here :) if fiat money is shitcoin or not... And gold is not shitcoin, of course - as it keep purchasing power quite well in time (at least until: asteroids gold mining ;)
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