141–150 of 426 posts
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> not rare Interesting. Don't really know how crytos work, but isn't rarity is guaranteed by the BitCoin algorithm itself?
Yes. But anyone can create a blockchain exactly like that of Bitcoin and call it Bitcoin-B, Bitcoin-C etc, etc.
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Agreed, it's almost like the asset has no fundamental value, and is driven completely by speculation.
I am struggling to understand what currency you would define fundamental value - Loafs of bread?
Cryptocurrencies can have all that, but they need to have a high transaction volume (tens of thousands / second), regulation, protected / monitored exchange value, etc. Which defeats the original purpose of an "open source", unregulated currency.
But you get what you ask for.
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Agreed, it's almost like the asset has no fundamental value, and is driven completely by speculation.
I am struggling to understand what currency you would define fundamental value - Loafs of bread?
Buying on the way down, see you all on the upswing in about a year. I bought after the MtGox crash in 2013 and can't wait to buy this bear market!
What do you consider a "bottom" price for bitcoin ? or a "high" price ? This thing has no possible valuation, because it has no utility, no intrinsic value. The whole thing is just crazy.
Buying on the way down, see you all on the upswing in about a year. I bought after the MtGox crash in 2013 and can't wait to buy this bear market!
What do you consider a "bottom" price for bitcoin ? or a "high" price ? This thing has no possible valuation, because it has no utility, no intrinsic value. The whole thing is just crazy.
People buy drugs with it. People evade tax with it. People evade currency controls with it.
When will people stop making this crazy false claim?
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/s indicates a "closing" sarcasm tag.
He edited in the /s after the fact - and besides sarcastic comments don't add any value to the discussion.
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You mean, like the US dollar ?
Like all dollars, yen, pounds, euros, silver, metal and gold? None of these things, paper or earth metals, really have any intrinsic value. You can't eat gold. You can't put euros in your car. I guess you can burn money to keep warm, which is what happened to German Marks once people lost confidence in their currency prior to WW2. The value of money is based off belief systems. When a very large scale economic or sta…
The demand for USD is cyclic in nature (IANAEconomist, I just made that term up), in that, I need money to buy food, my employer needs me to make them stuff, my employer's customers need my employer's product for their processes, etc.