Bitcoin now $11,763.75/coin when will you get in?
Up 57.62% since last month
Up 1455.3% since last year
Up 1455.3% since last year
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SW-User
@Area51 Buying bitcoin is like buying stock in a company that produces no product and offers no service.. wich is stupid..
bitcoin is backed by nothing and only has value as long as people think it does..
plus the price is being manipulated..
when not if but when it crashes it's going to be epic..
bitcoin is backed by nothing and only has value as long as people think it does..
plus the price is being manipulated..
when not if but when it crashes it's going to be epic..
Area51 · 26-30, M
@SW-User your premise is incorrect. though as someone who doesnt understand mining i can understand the confusion. bitcoin is backed by hundreds of thousands of processors and mathematical algorithms. yes price is being manipulated, just like the US dollar, and by the same people. as far as offers no service it does, first is blockchain anonymity and a starting point. this allows for altcoins to use the bitcoin core to build better services and systems while bitcoin pioneers blockchain technology.
SW-User
@Area51 like i said, bitcoin is worthless..
it will crash because it has no value, it's backed by nothing...
Dollars and other hard currencies have value backed by the issuers ability to produce goods and services wich can be taxed..
bitcoin has no such backing..
look at the value of Venezuela currency and you'll begin to understand what bitcoin is actually worth..
it will crash because it has no value, it's backed by nothing...
Dollars and other hard currencies have value backed by the issuers ability to produce goods and services wich can be taxed..
bitcoin has no such backing..
look at the value of Venezuela currency and you'll begin to understand what bitcoin is actually worth..
Area51 · 26-30, M
@SW-User venezuela has actually started using bitcoin as currency because theirs is so poor. also dollars are not backed by anything. ANYTHING lol. people were killed so it could no longer be gold-backed. your dollar is as worthless as you think bitcoin is lol.
SW-User
@Area51
Bitcoin is a fraud.. enjoy the ride... it wont last much longer..
Bitcoin is a fraud.. enjoy the ride... it wont last much longer..
Area51 · 26-30, M
@SW-User thats what they said in 2013 ;) o/ man hope you come to the light one day
xSharp · 31-35, M
@SW-User any currency has value only because it is agreed upon by the masses as the medium of exchange and because there is a finite amount of it, an example being once the gold standard was removed inflation skyrocketed.
gold was used as currency because it does not deteriorate, it is easily shaped into coins and it is not easy to reproduced short of mining it, they were not yet aware of its modern uses, it was just shiny soft metal to them.
the word salary comes from salt, people used to be paid in salt because it had value at the time, cocoa beans were also used as currency for the aztecs.
the currency itself has no value at least is not intended to, it is only a medium of exchange representing something of value, you cannot trade half a chicken. so yes, bit coin does have value just because people think it does or rather agree that it does.
gold was used as currency because it does not deteriorate, it is easily shaped into coins and it is not easy to reproduced short of mining it, they were not yet aware of its modern uses, it was just shiny soft metal to them.
the word salary comes from salt, people used to be paid in salt because it had value at the time, cocoa beans were also used as currency for the aztecs.
the currency itself has no value at least is not intended to, it is only a medium of exchange representing something of value, you cannot trade half a chicken. so yes, bit coin does have value just because people think it does or rather agree that it does.