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by victor106
3121 days ago
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I agree with most of what you say. There is intrinsic value in bitcoin. The two more important questions are:- 1. Can that value be measured? 2. Do the people buying bitcoin know the reasons behind why they are buying it? I think not. I know so many of my friends who own bitcoin and they have no idea what the hell this thing is. They just bought it as it’s growing up in value. These are the people who would sell it when the value goes down and we all know how that ends... |
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Of course it can. Its price. Bitcoin is money. Its price is the only measure of value.
What I'm saying is that it doesn't matter what people want it for. It's money. It enables things. It is just better money, because it can't be seized, payments can be made to anyone, it can be transported anywhere easily and redeemed anywhere easily, and most of all, it can't be debased. Any of these reasons is enough to want to use it, and people might not know all of the details, but they certainly understand the effects on their wealth.