[Daily Discussion] Sunday, October 14, 2018

So apparently u/wardser does not know what the difference between bitcoin and beanie babies is.

https://www.reddit.com/r/BitcoinMarkets/comments/9o00mu/daily_discussion_sunday_october_14_2018/e7rxzb3/

For anyone wondering, the difference is that bitcoin is more divisible, transferable, and fundmentally secure than beanie babies are, which makes it far better for moving value. This gives it use cases that beanie babies can never have.

But, even more importantly, the difference between bitcoin and beanie babies is that bitcoins cannot be replicated. Any company can set up and make more beanie babies. That's why beanie babies lose value, because there's beanie baby inflation. However, new bitcoin can never be created. This is an essential property of bitcoin that gives it value, in that it can be used as a protection from inflation.

The fact that u/wardser, one of the most frequent commentators on this sub, who regularly gets attention and upvotes, cannot explain one of the most basic things about bitcoin really shows he does not truly understand what he is talking about and probably shows people should be cautious about taking his analysis seriously.

/r/BitcoinMarkets Thread