View Single Post
Old 03-23-2014, 10:56 PM  
sobecash
Confirmed User
 
Industry Role:
Join Date: Jul 2012
Location: Miami
Posts: 285
Quote:
Originally Posted by rosx View Post
"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."

same thing apply for money , gold and women etc
I agree with the first quote, as well as the second. But with paper money, there is also the concept of being backed by a Central Bank (or a government). Money released by a government would have some verbiage saying that this piece of paper is proof that the government owes the holder money (or some such meaning). This is how governments control the supply and flow of money.

With Bitcoin, there is no authority or governing body which would be supporting the "currency", what Bitcoin is meant to do is stand on its own, without being backed by any real (intrinsic) value. Which means that unlike paper money from a Central Bank, Bitcoin is truly dependent on how many people think it is valuable, and by how much are they willing to pay for it.
__________________
Guillermo
ICQ 46 662 587 / guillermo[at]sobecash[.]com
Sobecash Winner of the "Best Affiliate Program" Award 2015 by Cybersocket

www.sobecash.com
SITES NETWORK:
www.dallasreeves.com
www.zebatlas.com
www.wankthis.com
www.blacknhung.com
www.finestlatinos.com
www.barebacktime.com
sobecash is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote