TheBigShort
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Until there are people whose earnings are in bitcoin it will never be a natural retail currency.
On par perhaps with Warwickshire becoming All-Ireland hurling champions, perhaps?
In theory, I can issue a Burgess Coin
Coupled with Bitcoin’s popularity among ransomware extortionists and all manner of other cybercriminals, we must now face a chilling realization:
Just an additional thought: is it possible to place Bitcoin on deposit and earn interest? (This is a genuine question: I don't know the answer). If it is, then it would have some intrinsic value. However, I suspect it isn't, if only because of the volatility in its price.
That's because value is subjective.
Until there are people whose earnings are in bitcoin it will never be a natural retail currency
Why are you holding onto something which is worth nothing, which you could sell for $16,000?
I think it would be unfair to take this thread off topic by answering it yet again. Discussed in detail in this thread.
Bitcoin has subjective value - intrinsic value is irrelevant
But that's the point: you didn't answer the question (other than quote Lews Carroll), and you go on to make the same claims in this thread too. I note you didn't answer this time either (what's that: 4 or 5 times now?). So, at the risk of boring everyone, I'll ask again: what do you mean when you say "value" or "worth"?
Oh give it a rest. I think its perfectly clear that Brendans think bitcoin is worthless, because it has no asset backing. You don't have to agree with that view or even think its relevant, but it has been explained ad nauseam.
It is currently backed by the equivalent of $150bn.
That comment is a revelation, it explains a multitude.
Ah, but I'm not the one claiming something for the 467th time, or whatever it is, just the one pointing out it's not true.....Oh give it a rest.
First time I've heard this as the explanation: just out of interest, what assets back other currencies?Brendans think bitcoin is worthless, because it has no asset backing
First time I've heard this as the explanation: just out of interest, what assets back other currencies?
The key point is that misguided people are paying $9,000 for something whose price will eventually be zero. If you want to play with words and say that it is worth $9,000 because someone else will pay $9,000, you are only fooling yourself.
As I said before, no estimation needed: the value is there for all to see in the market price, same as anything else that's traded.those who claim that Bitcoin has a value greater than 0 must show why it has that financial value and how it is estimated
those who claim that Bitcoin has a value greater than 0 must show why it has that financial value and how it is estimated. No one has done that anywhere.
It's not up to atheists to prove that Gods do not exist. Those who believe in Gods must prove that they exist.
If someone thinks that a bag of air has value, then they must show how that value is calculated.
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