Comments by "boz" (@BOZ_11) on "Bitcoin Is a Better Version of Gold, Nexo's Trenchev Says" video.

  1. Well, he's wrong, US GDP is $20 trillion, btc's market (in actual goods and services) is worth 0.00001% of that
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  2.  @cassideyousley406  The intrinsic value of the dollar is nil, the same as bitcoin (bitcoin has no peg). The dollar (or any currency for that matter) is backed by all the goods and services priced in USD, which to date forms the largest national and international marketplace humanity has ever had (there are more dollars outside the USA than within). Bitcoin fails 2 of the 3 conditions of 'money'. It's not a store of value because it's too volatile, it's not a means of exchange because HODL, but it is a unit of account since the ledger works (which is all the blockchain really is, a secure decentralized ledger). Having said that, bitcoin's transaction throughput of 7 transactions per second is absolutely derisory compared with literally any other blockchain. It's far and away the slowest and most expensive cryptocurrency to transact in; it's already old and decrepit. Lightning is a dead end, since it's insecure, and is predicated on the idea that Joe Average runs his own lightning node, and that's never going to happen.
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