Quote:
Originally Posted by Matt 26z
What is the difference between buying something using Bitcoin and WOW gold?
I hope you guys make a lot of money with it, but at some point it's going to crash and burn since it's just play money.
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WOW gold has a certain intrinsic value for WOW players, but Bitcoin does not, so it is perhaps more truly a currency. I suppose WOW gold is kind of just a currency with capital controls in place though.
If China dumped its current dollar holdings tomorrow, the USA would spiral into hyperinflation and the dollar's exchange rate with other currencies would become essentially worthless. I'm pretty sure the dollar is still money.
Same thing. Currency has no intrinsic value.
Why does bitcoin make people so mad? I accept yen on my membership sites and nobody has ever freaked out at me that the Japanese economy has had some instability.