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In reply to the discussion: One of the world's biggest banks just admitted bitcoin could destroy existing finance firms [View all]PowerToThePeople
(9,610 posts)13. Uh, no thanks
bitcoin is still a fiat currency with no intrinsic value. I liken it to anarchy currency.
Food stores, water, real estate, and other real stores of value will always have some value.
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One of the world's biggest banks just admitted bitcoin could destroy existing finance firms [View all]
TampaAnimusVortex
Jul 2015
OP
thanks...hmmm...so it is money sort of but you dont have to buy itto use it? weird
randys1
Jul 2015
#3
Unless someone comes up with an algorithmetic breakthrough that reanders this nice graphic moot.
PoliticAverse
Jul 2015
#68
If governments started to accept tax payments in bitcoin do you think that would be a tipping point?
PoliticAverse
Jul 2015
#31
I'm going to file that under "outrageous bluff" - they'd just go back to the drachma.
PoliticAverse
Jul 2015
#34
Napster went bankrupt and disappeared, are you saying that's the fate of bitcoin? n/t
PoliticAverse
Jul 2015
#33
I have two main issues with crypto currencies. Even if I could be convinced...
PoliticAverse
Jul 2015
#59
Encryption is based on Math... Math doesn't typically have a backdoor, that's one of the brilliant
JCMach1
Jul 2015
#61
Math is subject to algorithmic breakthroughs that make 'previously thought impractical'
PoliticAverse
Jul 2015
#63
Bitcoin was created by and for goldbugs. It's not going to become the new standard.
jeff47
Jul 2015
#11
"look at greece" - you mean forces a country to actually have to collect taxes from the wealthy?
PoliticAverse
Jul 2015
#29
Some countries will do anything other than actually collect taxes from the rich. n/t
PoliticAverse
Jul 2015
#42
"intrinsic value" arguments are silly until the day no one accepts your currency and you realize...
PoliticAverse
Jul 2015
#43
"For the most part, gold isn’t all that useful" - I guess I must be imagining the number of useful
PoliticAverse
Jul 2015
#27
They accept only because there's another company that is willing to instantly convert it
PoliticAverse
Jul 2015
#28
And you never know when someone is going to stop acepting your 'flooz', it can happen quickily...
PoliticAverse
Jul 2015
#39
One employee of a singular bank allowing an analysis doesn't really seem to rise to the level of
LanternWaste
Jul 2015
#49