why do you say that @bazinga? bitcoin never became valuable untill people trusted it and imagined it to be valuable, and today, its only calculated value is what people decided to sell it for during that day.
Perhaps you've missed out on how the values of all currencies are calculated but @replaycoding has a valid point, the value of any currency is just determined by what it trades for, there is no other magical measurement or system that determines its value.
I was more amused by the phraseology than his point.
But I'm not willing to pick a fight over his point. It's valid indeed.
Hell, maybe I am willing to debate. "What it trades for" is another way of saying popular opinion of value. Popular opinion can be extremely manipulated.
"Power lies where men believe it resides. It's a trick, a shadow on the wall." - Varys
Currency only works with a network effect, especially if the thing being exchanged has no intrinsic value outside of being a currency. Given that fiat has no intrinsic value, it just satisfies certain properties of money and is used as such.
Technically Power shifts from time to time . where is it moving to ? Crypto currency is a thing of the future . with the way inventions/creations keep springing up am sure the ULTIMATE COIN will soon be create if it hasn't already .
why do you say that @bazinga? bitcoin never became valuable untill people trusted it and imagined it to be valuable, and today, its only calculated value is what people decided to sell it for during that day.
Perhaps you've missed out on how the values of all currencies are calculated but @replaycoding has a valid point, the value of any currency is just determined by what it trades for, there is no other magical measurement or system that determines its value.
I was more amused by the phraseology than his point.
But I'm not willing to pick a fight over his point. It's valid indeed.
Hell, maybe I am willing to debate. "What it trades for" is another way of saying popular opinion of value. Popular opinion can be extremely manipulated.
"Power lies where men believe it resides. It's a trick, a shadow on the wall." - Varys
Currency only works with a network effect, especially if the thing being exchanged has no intrinsic value outside of being a currency. Given that fiat has no intrinsic value, it just satisfies certain properties of money and is used as such.
Technically Power shifts from time to time . where is it moving to ? Crypto currency is a thing of the future . with the way inventions/creations keep springing up am sure the ULTIMATE COIN will soon be create if it hasn't already .