If you don't understand why cryptocurrencies have value

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Aug 13, 2017
6:55:47am

Zedhead 3rd String

If you don't understand why cryptocurrencies have value

then you don't understand why traditional currencies have value.

Thomas Sowell is a good starting point.

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Zedhead

Bio page: Zedhead
Joined: Oct 9, 2010
Last login: Apr 25, 2024
Total posts: 9,602 (278 FO)

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Messages

Author

Time

I still don't understand bitcoin

RedlandsCoug

8/13/17 6:46am

It's pushing $4k. Crazy. My $15 of bitcoin is worth $100 now.

supertux

8/13/17 6:46am

But why bitcoin to begin with?

RedlandsCoug

8/13/17 6:57am

You associate with drug traffickers?

8/13/17 7:33am

I know drug traffickers use it. I don't know drug traffickers

RedlandsCoug

8/13/17 7:35am

Glad to see you are reaping the rewards of your all-in investment!

Florwood

8/13/17 7:33am

people think it has intrinsic value

8/13/17 6:54am

When you need to pay the ransom because you got a virus that encrypted all of your files, you need bitcoin.

El Jefe

8/13/17 7:09am

What do you mean, it will be used nefariously

8/13/17 7:36am

Most ransomware requires payment by bitcoin. I think that's driving demand for it.

El Jefe

8/13/17 8:46am

So those invested in bc have extra incentive to engage in creating ransomware

Twin Roots

8/13/17 9:17am

If you don't understand why cryptocurrencies have value

Zedhead

8/13/17 6:55am

Traditional currency has value because we choose to accept it.

RedlandsCoug

8/13/17 7:00am

I mean, might be good if you need a black

8/13/17 7:04am

Overstock,Subway, Dell, Dish Network, Gap, T-Mobile

Zedhead

8/13/17 7:19am

<< Deleted >>

RedlandsCoug

8/13/17 7:21am

So a handful of stores. But overall very few people accept it.

RedlandsCoug

8/13/17 7:22am

This is not a complete exhaustive list. Just a few of the manor players.

Zedhead

8/13/17 7:24am

I guarantee that the subway outside my work doesn't.

RedlandsCoug

8/13/17 7:47am

statements like this are common, but really flimsy

8/13/17 7:03am

What statement is flimsy? Why do you believe any currency has value?

Zedhead

8/13/17 7:22am

see, you believe Bitcoin has value

8/13/17 7:29am

Currently it's An absolute fact that bitcoin has value as well

cougarfann888

8/13/17 7:41am

Ok, it has value compared to dollars

8/13/17 7:47am

All currencies are valued compared to other currencies. And yes you can

cougarfann888

8/13/17 7:49am

Some of those things, yes. Look it up. There are places that accept bitcoin. I'd

supertux

8/13/17 8:08am

History

bluebloodedcoug

8/13/17 7:30am

This is so so true. Well put.

Jeremy

8/13/17 7:46am

Bought a bunch last month. I forgot about it and looked in my

bayareacoug

8/13/17 7:48am

Why is gold valuable? It's just a shiny rock that someone picked up?

8/13/17 9:15am

there are uses for gold- but...

RedlandsCoug

8/13/17 11:03am

There are uses for blockchain tech. It may fizzle out or something better may

8/13/17 11:10am

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