12 upvotes, 2 direct replies (showing 2)
View submission: Don't invest recklessly
You will the moment the mania ends and people start to ask themselves why should they pay real money for arbitrary internet tokens.
Comment by toastthebread at 02/12/2017 at 05:52 UTC
12 upvotes, 1 direct replies
The fact that it's a trustless peer to peer decentralized store of value/currency whatever you want to call it is why it is not just an "arbitrary internet token"
The part that is arbitrary is the numbers associated with it. Coins are divisible. You aren't forced to buy a whole one.
Fiat money is only as good as the government backing it. Which yeah we probably aren't going to see USD in our live times fall out of existance, but personally I do see value in not having to trust anyone or anything but yourself.
Comment by flux8 at 01/12/2017 at 23:42 UTC*
2 upvotes, 2 direct replies
It’s only arbitrary until enough people say it isn’t. Just like anything else that holds “value”.
Tell me, how do you explain why gold is valued at over $7 trillion? You can’t use it to buy food. You can’t carry it with you. And it can be physically stolen. So why do people buy it?
You need to stop looking at Bitcoin for what it is today and start looking at it for what it will be able to do in the future.