[ExI] bitcoin again

[Brent Allsop]

Yea, The question is, where is the price going to be in 10, 20, and more
years?
Will Ether ever surpass bitcoin?  What kind of systems will arise from all
this, changing our lives?
What about all the other crypto currencies?



On Fri, Mar 11, 2022 at 10:19 AM spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

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> About 20 yrs ago, we concluded that the critical factor in the value of a
> currency is not what is behind the currency, but rather how the supply of
> the currency is controlled.  It can be gold backed, silver backed,
> government promise backed, it doesn't matter, only that it isn't created
> arbitrarily.
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> The US government came to the same conclusion simultaneously, so it
> borrowed and spent the value behind its own currency, while Hal's group
> (BitCoin) invented a way to control supply of a currency based on compute
> time, secured by block chain.  They created a currency representing no
> actual value, representing no precious metals or anything else, no
> government promises behind it, acknowledging this right up front.  Its only
> real asset as a currency is that the supply is controlled in such a way
> that it is impossible to counterfeit or print in arbitrary quantities,
> unlike all fiat currencies.
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> This is what happened:
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> https://www.google.com/finance/quote/BTC-USD?sa=X&ved=2ahUKEwj3pqyYx772AhUZITQIHQRrDc8Q-fUHegQIGxAS&window=5Y
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> spike
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