Quote:
Originally Posted by grumpy
you are comparing the value of the Mona Lisa with Bitcoins
The value of the Mona Lisa is based on its exculsivity, wich BitCoin not has.
The stuff you buy at the craft store are payed by dollars, they are ( should be ) backed by gold and government ( Bitcoin is backed by nothing )
You guys dont understand the basic of Economics. Sure you can make money with Bitcoins but so you can in the casino ( they are backed by dollars )
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Not sure if I'm on the same page here... If I buy paint with US dollars that US dollar is backed by gold. If I buy bitcoin with US dollars, that US dollar is not backed by gold?
There are a finite number of bitcoins (21 million). There are far more humans on earth than there will ever be in bitcoins. So if 30 million people wanted to have 1 whole bitcoin in their possession they couldn't. If some rich philanthropist bought up all 21 million bitcoins that means no other human could have one. That sounds exclusive to me...