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Comment by tabs_masterrace | Hacker News Reader

Buy now or regret it.

Bitcoin is only going to get bigger, much much bigger. For those doubting the scaling potential, don't forget it's software and software is not static thing. There is now too much money in it, and the money directly translates into interest to keep Bitcoin running and succeeding.

The protocol may change or even fork come time, but the chain will not, if you have coins now, your store of value is written in stone, and will be there in whatever form we have in the future.

It's going to be the new gold.

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> It's going to be the new gold.

Well it has all the negative of gold...

> There is now too much money in it, and the money directly translates into interest to keep Bitcoin running and succeeding.

Like tech stocks in 1999? 2007 subprime mortgages?

> It's going to be the new gold

You mean my dentist can fill my teeth with it, I can give it as a shiny necklace to my girlfriend, I can use it as a conductor for my stereo? You mean it's actually something I can use?

Common now, gold isn't valuable because of its conductive properties, and nobody uses it to fill teeth anymore.

Gold is valuable, because

a) There's a fixed supply.

b) The material itself is proof that you actually posses it.

c) It's durable and easily quantifiable.

It's a store of value, that cannot be overruled, either you have it or not, that simple. There is nothing quite like it, and that's why governments are hoarding gold reserve in underground basements.

Bitcoin takes this concept even further and ensures that your coins cannot be forcefully taken from you (given you store them right ofc). They are essentially just a piece of information, and that is enough to universally validate your ownership, without a doubt.

There is immense value in the technology, I'm sure its here to stay. Again, maybe not the current iteration, but whatever Bitcoin evolution we end up with, it will very likely come out of this blockchain.

But we will see. Maybe it IS gonna die tomorrow after all.

Even if bitcoin for some reason disappears (and I don't believe the doomsday scenario is anywhere in the near future), the blockchain technology on which it is built is revolutionary, and the financial sector is researching it and developing new applications at a furious pace.

Whatever the future of bitcoin itself and whoever he is, "Satoshi Nakamoto" will go down in history as a great inventor.

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