Quote:
Originally Posted by TheSquealer
How will that momentum be "maintained" when 1000 other people start 10,000 similar currencies? What is the value of bitcoins when there are 10,000 similar currencies? What is the value of a bitcoin when its realized that anyone can just randomly wake up and start a currency using open source software and people are doing it daily? What is the value of a bitcoin going to be when millions of people lose money on similar currencies?
Money is religion. Nothing more. It's a deity in a sea of deities. It's faith. The value of a piece of paper lies in the understanding that others will accept that it has that value, both today and in the foreseeable future. Nothing more. Sharing or not sharing the same beliefs in the same deities does not make those deities more real or imagined, more stable or more unstable over the long term.
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settle down.
since you quoted "momentum" i'l figure you were quoting me on that, if you doble-check, you will see that i was referring to the infrastructure provided by ripple.com, which is not cryptocurrency specific.
i've never said btc is the holy grail, far from it. in fact, you'll be hardpressed to find me doing anything around here re: btc that isn't supported with a link to where i retrieved the information. a lot of people are asking genuine questions here re: btc and i think it's important to at least try to provide factual replies.
so yeah, i fully understand that myspace was here before facebook, i get that, in fact, collegeclub was here before myspace and i happened to work for collegclub starting in 1998, so i know what it's like to be left standing during a game of high-tech investing musical chairs.
yes, teh moneys = cult