36 sats \ 2 replies \ @DiedOnTitan 25 Jan \ parent \ on: Naivetes in Bitcoin bitcoin
The analogy doesn't work. If you shave gold to something the value of copper, it would be too delicate to physically hold and use as payment. Silver and copper is physically more practical for lower value payments. However, a $billion worth of bitcoin is just as easily transferable as a few satoshi. So there is no need for a different coin. No, I think shitcoins will wither and die.
Yes you are right its not a perfect analogy. Having said that, when paper money appeared they "could've" denominated gold in micrograms on paper....but they didn't
The divisibility benefits of BTC aside, my point was mainly that "market forces" seem to demand the existence of shitcoins for whatever reason.
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Yep. I think the reality here is that all investing/trading/gambling as there is today will continue to exist as it always has.
Nothing about bitcoin existing will stop people from investing capital into growing businesses.
Scammers will always be around to try and shitcoin you out of your bitcoin/hard assets. Always have been in tradfi, crypto didn't necessarily invent "shitcoining" as a concept.
Tradfi is also starting to become more and more synonymous with "shitcoining" since we have larry fink shilling the tokenization of everything. "Shitcoining" is likely going to become bigger than it ever has before.
The only difference on a Bitcoin standard will be a leveling of the playing field. A bitcoinized economy is more fair and more competitive. No more infinity dollars to prop up dying businesses, you either produce long term value or watch your valuation rug like a shitcoin. Market forces will sustain whoever is adding value
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