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Comment Re:The same is true of the US dollar (Score 1) 438

you shouldn't need to "possess" a "real" Bitcoin in order to spend one.

Bitcoin is for crypto-goldbugs who don't believe in fractional reserve, so yeah, you need to have BTC before you can spend it. There's also no point in putting BTC in a bank since the "banks" aren't insured and don't pay interest (the ones that claim to pay interest are scams).

Comment Re:Speculators (Score 1) 438

A different analysis showed that around 2M BTC have never been spent even once after being mined. Many of these unspent block rewards are from the early days so it's not clear whether they're lost or hoarded. Given the very low exchange rate at the time, it wouldn't be surprising if they were simply discarded.

Comment Re:Googles Video Super head ends (Score 1) 98

Google doesn't do things the cheapest way because they're thinking long-term. They want to have everything in house. They may (accidentally, I'm sure) destroy some of the companies you mentioned, so Google doesn't want to be their customer when that day comes. Google also thinks (rightly or wrongly) that at scale they can always design something cheaper than anyone else.

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