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mineistaken · 03-22-2014, 03:40 PM

So I always said that bitcoins have no actual value other than that value which depend on how many people think that it is valuable.

Analogy would be here:

http://www.nytimes.com/2013/05/15/ar...bys.html?_r=1&

You have a painting which real value is in the hundreds or maybe $1000 tops. However if you have people who somehow think it is worth more you can sell $1000 value thing for 46 millions.

And yes I know that "something is valuable as much as somebody is going to pay for it". Point is that some people simply overvalue things. 0 value bitcoin or $1000 value painting are just examples of this.

03-22-2014, 03:40 PM
mineistaken See signature :) Industry Role: Join Date: Apr 2007 Location: ICQ 363 097 773 Posts: 29,656	Bitcoins explained So I always said that bitcoins have no actual value other than that value which depend on how many people think that it is valuable. Analogy would be here: http://www.nytimes.com/2013/05/15/ar...bys.html?_r=1& You have a painting which real value is in the hundreds or maybe $1000 tops. However if you have people who somehow think it is worth more you can sell $1000 value thing for 46 millions. And yes I know that "something is valuable as much as somebody is going to pay for it". Point is that some people simply overvalue things. 0 value bitcoin or $1000 value painting are just examples of this.