It won't run out it will deflate. And fees will take over to pay for transactions rather than mining
It's said failed to send a bunch of my messages
Over the course of hundreds of years and billions of people using it? It'll run out
It can be updated to further subdivide the coins
They can already go to 8 decimal places
Yea, I know
You're not thinking long term
What's the long term issue?
billions of people using a coin compounds an issue exponentially
There's lightning network. Coins can be divided as much as would be needed
another problem is it doesn't really have backing
although that can be looked at as a positive as well
depending who you ask
Backing?
The US dollar is backed by the US government and military
Ahh
Well, money is worth what people think it is
Again good or bad depending on your perspective
I know
it's all fiat
It wasn't always
Gold for example
It is now
Lol I was in finance for a while
Yeah I'm not high level on these discussions. I just know a lot of people who think it will work. You ever read any taleb to take a tangent?
if the gov collapsed would gold actually maintain value
Not short term
Nah I don't have a lot of reading time outside of my coursework unfortunately
Gotcha
Gold will always hold value
He made a lot of money off of the markets and is pretty critical of finance
ive heard that axiom but what is it based on
It's rare and people want it
bullets, medicine, and cigarettes/alcohol will be the new diamonds though
Short term yes
the nature of gold as an element then?
Gold has been valueable for as long as people have lived
In some sense
its visibly rare
If you're worried about a collapse, buy ammo
and medicine
