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Bitcoin isn't like digital Gold, but more like Copper, brilliant!

Bitcoin isn't like digital Gold, but more like Copper, brilliant!

Amazing analogy from Glenn Hutchins, from a meeting Oon January 14, 2016, where Brookings convened a roundtable technical discussions about the future of distributed ledger technology with industry and policy stakeholders.

A better analogy for Bitcoin is Copper, Copper has value but the main use for copper is to transfer power (or carry something). This is just like bitcoin. 

Just brilliant!

Full video here.

Like joshia- says:

The copper analogy is one that will stick--it is the best analogy I've heard for BTC.
Copper's value is derived from its utility, as well as speculation--similarly to bitcoin. Essentially, copper is to wiring what bitcoin is/can be to payments.


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