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Title: Bitcoin Is "Money Out of Thin Air"? Post by: iamTom123 on November 02, 2017, 07:06:12 AM Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value. As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin. There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble. Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: mobnepal on November 02, 2017, 07:14:03 AM Actually banks are creating money that we are using right now and nobody of us know about this.
In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank. Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards. https://www.youtube.com/watch?v=oJ5Hq0NDErA Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Scorpion on November 02, 2017, 07:24:49 AM The concept of currency is assigning value into a system used for exchange in a economy. Ancient Greece used peppercorn as a form currency at one stage in their history. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: KwizatzHaderach on November 02, 2017, 07:28:57 AM Central banks just print money also.
Bitcoin mining(creation) is currently gulping up vast amounts of electricity just to create. There is some intrinsic value in its creation. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: qwerty_2134 on November 02, 2017, 07:40:47 AM Yes I think because although the job you do in btc is different from other job and it takes time for you to earn money, it is so worth it once you claim your profit.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: audaciousbeing on November 02, 2017, 07:43:14 AM Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value. As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin. There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble. Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions. The assumption is right and its something people are still wallowing in the ignorance of understanding where the money is coming from and the more you try to explain, the confusing it seems for those who have made up their mind that bitcoin is a bubble that would burst very soon but the same set of people will not be able to provide you an answer as to where the fiat they have in their bank accounts, spend on several things comes from but its actually a form of programming one way or the other. Today, someone will transfer a Chinese Yen to someone who will receive it in dollars, neither does the man in China takes the physical Yen across the world to someone who will receive the dollar equivalent rather its just some form of electronic algorithm that is being transferred from one place to another and to avoid the curiosity of people, they made it seems physical exchange has been factored into the transaction. What Satoshi tries to do is to ensure that the freedom is handed over to the individuals rather than conglomerates and that is where in my opinion, the confusion is coming about even from the elite. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: intelligent.investor on November 02, 2017, 08:42:31 AM Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value. As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin. There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble. Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions. Instead of Bitcoin, I would rather question whether Bitcoin Cash and Bitcoin Gold "Money Out of Thin Air"????? Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Chanock on November 02, 2017, 09:59:50 AM The assumption is correct and people are still ignorance where the money from and what are the other importance of it and used. People are satisfy as long as they have money and they used it in they what they want but they never see the true importance of it. Currency is made to use people in different way the concept of it is assigning into a system that used for exchange in the economy of one government. Also currency have a vast role in the government and the people of the state.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Anonymous Kid on November 02, 2017, 10:11:53 AM Of course it is made out of thin air (and computing power)!! But so is EVERY currency; The dollar, the pound... They are all just printed out like nothing. The true value lies in how many people trust and believe it. Money is just meant to represent assets so that they can be universally divided and accepted as a medium of exchange.
More (real*) users = Higher trust = More value. Economics 101. *Real means that users are using it as a medium of exchange and NOT trading or speculating with it. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: BitcoinIsAlgebraic on November 02, 2017, 10:14:15 AM Of course it is made out of thin air (and computing power)!! But so is EVERY currency; The dollar, the pound... They are all just printed out like nothing. The true value lies in how many people trust and believe it. Money is just meant to represent assets so that they can be universally divided and accepted as a medium of exchange. More (real*) users = Higher trust = More value. Economics 101. *Real means that users are using it as a medium of exchange and NOT trading or speculating with it. Not strictly true because fiat currencies are based on the availability of gold and are backed by gold. Bitcoin sort of comes from nothing mining is just a mini game to issue coins out over time and not all at once. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: d5000 on November 02, 2017, 10:15:28 AM All cryptocoins are "money out of thin air" ;)
I am a bit worried what will happen when we see another longer bearish phase like in 2014. The "store of value" concept looks nice at a first glance because it needs less blockchain power (capacity/speed) than the "currency" concept. But it implies also a dependence on a stable or growing price. And if prices don't grow then people lose interest and the concept doesn't sustain itself anymore. Another thing I'm worrying about are the MMM-style Bitcoin ponzis that are driving people into shady schemes in some parts of the world. But for now let's enjoy the (continuation of the) ride ;D Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: piloder on November 03, 2017, 06:27:28 AM To produce bitcoin through mining, there is heavy cost associated unlike paper cash which are just printed out for 10th of the actual value of the cash. There is relatively very thin profit margin for all miners who are responsible for making/producing new bitcoin so I don't think bitcoin is "Money out of thin Air".
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: d5000 on November 03, 2017, 10:08:46 PM To produce bitcoin through mining, there is heavy cost associated unlike paper cash which are just printed out for 10th of the actual value of the cash. There is relatively very thin profit margin for all miners who are responsible for making/producing new bitcoin so I don't think bitcoin is "Money out of thin Air". Interesting. One could "counter" that stance, arguing that miners are not the "issuers" of the Bitcoins they receive. The protocol itself is the issuer. Bitcoin mining is only a way to get Bitcoins, defined by the protocol. The miners themselves are the "culprits" that the necessary investment in ASIC hardware and electricity is so large (because of the vicious circle: if more people invest, one must invest even more to get reasonable profits). But in theory Bitcoin would work even if miners only mined with their CPUs.On the other hand, the security of the system would be then much lower. So in PoW currencies like Bitcoin, the usefulness of the protocol as "currency" or "store of value" depends a bit on that "heavy investment costs". So you're right, philosophically the "out of thin air" stance is not at all obvious or unambiguous. Where it is obvious is in the case of ICO tokens and "PoS-only" coins like Nxt/Nem. These are really currencies created "out of thin air". Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: r32godzilla on September 28, 2018, 02:13:51 PM Yes bitcoin has already crossed such initial stages and it is now not in need of opinions of big investors or economists. People have seen the true potential of bitcoin with their eyes.Bitcoin has successfully survived despite the continuous action staken against it by bankers and governments.
Bitcoin is now known by people even belonging to under developed countries.They are crazy to know and investin bitcoin.That's really a great achievement as a decentralised currency without the support of any of the governments. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: joebrook on September 28, 2018, 02:20:36 PM People often forget the work done by computers to mine bitcoins ad the resources that miners use in order to get Bitcoin. There is a lot of investment when it comes to getting Bitcoins so it can't be termed as getting money out of thin air.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: cizatext on September 28, 2018, 03:18:39 PM Referring to bitcoin as money out of tin air will be a statement out of ignorance to us who have taken our time to study and understand the fundamentals of bitcoin and how it works, well every thing at it initial stage only exist as an idea even the bank create money out of nothing its the value attached to a thing that determine it worth in the real sense.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Kuga_ZA on September 28, 2018, 03:25:35 PM Someone sent this to me some time back. I will repost because it is important and to show you that Bitcoin is NOT "Money out of thin air" at all! Read it and understand it and educate yourself.
Quote Do you know what "hard money" is? Hard money is a good that serves as money and cannot produced easily in big quantities. First, money has three functions: 1. Medium of Exchange 2. Store of Value 3. Unit of Account To achieve the first it must be salable across time and space and it must be accepted. For the second point it must hold its value for a extended period of time. And for the third it must be divisible. Fiat-money has 1. and 3. but lacks the Store-of-Value aspect. Why? Because fiat-currencies have a low Stock-to-Flow ratio. Let me explain this ratio... "stock" is the ammount of the monetary good that is already in circulation and it involves the whole amount that ever was produced. "flow" refers to new units of this good that are or will be produced. So, if a good has a low stock-to-flow ratio it means that new units of this monetary good can be produced easily and if a monetary good has a high stock-to-flow ratio - it means that new units can't be produced easily. The higher the stock-to-flow ratio the higher the quality of a Store-of-Value, the "harder" the money. For example, in ancient times Seashells were used as money, the rarer they were the more valuable. Because of the high stock-to-flow ratio. Now industrialisation began and with modern Boots and steam engines and what not the seashells could be pulled out of the ocean in far more easily and in large quantities. The stock-to-flow ratio sunk and with it the use of Seashells as money. Seashells were superseded with something that was hard to produce. Monetary medals set in and Gold established its status as the leader, because it was indestructible and the rarest. For centuries, every government currency was backed by Gold, this was turned over to finance World War 1, but that is another story. Till this day, central Banks keep large reserves of Gold, because they know what they don't admit: hard money is far more valuable than "easy money". Gold has a very high stock-to flow ratio because it is hard to produce. And it doesn't matter how much Gold they pull out of the earthcrust in one year it cannot rise by more than 2.6% on the flow side. Because there is so much Gold circulating around the globe, it was used as SoV for hundreds of years. Now Bitcoin comes into play, BTC is the hardest money that was ever invented since the first ape turned to man (or however the evolution happened). It has a fixed supply (as opposed to Gold) and its flow-ratio halves every 4 years. That is the best Store-of-Value currency that exists and its stock-to-flow ratio is as high as it gets. Plus it is easy to transport, can't be seized by governments if stored properly and can be transferred far more easier than Gold. Don't let anyone fool you by saying "BTC has no intrinsic value", it has. And now you know why. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Al Wahhaab on September 28, 2018, 03:37:39 PM Central banks just print money also. Bitcoin mining(creation) is currently gulping up vast amounts of electricity just to create. There is some intrinsic value in its creation. yes. I have the hope of printing my own coins Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Marcel555 on September 28, 2018, 04:31:52 PM That's like inferring that mobile networks (data and call time), are made from thin air, cause they are not tangible commodities
High computing power is put into bitcoin mining, and this is the intrinsic value. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: ABIR HASAN on September 28, 2018, 05:24:05 PM Absolutely bitcoin is money.Bitcoin has the potential to make a future with in it.we can convert into a real money.so everybody has it.,
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Angela92P on October 13, 2018, 08:02:25 PM cryptocurrency is virtual money that has no physical expression. They are only in the form of computer code, encrypted data. At the same time, the imitation of the account is not controlled by the administrator: banks and terminals do not participate in operations with cryptocurrency, they are not regulated by the state. Anyone can get money, and this direction is called "mining". Mining involves the use of computer power to solve various problems on the formation of new blocks of the cryptocurrency network. Simply put, for overclocking the operating system, you can earn money. The mechanism is similar to investing money in shares, but instead of shares — the power of the computer. Therefore, we can not say that bitcoin is money out of thin air, then you need to work hard.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: KingScorpio on December 19, 2018, 04:28:58 AM Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value. As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin. There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble. Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions. the creation of money out of nothing sounds ridiculous but its necessary, because growth won't be obtainable, and many created valuesources would be unused, or worse, unsecure in a destructive competition. regards Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: treatWy on December 19, 2018, 05:10:50 AM Bitcoin is not money in the air. When we say money in the air, supposed, everything in bitcoin should be done as easy as we can to get whatever's necessary. Getting involved with bitcoin is a preparation for bigger picture in the future. Well, Bitcoin is out of thin air is absolutely ironically and difficult to reached due to its step by steps processes.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: KingScorpio on December 19, 2018, 05:17:51 AM Bitcoin is not money in the air. When we say money in the air, supposed, everything in bitcoin should be done as easy as we can to get whatever's necessary. Getting involved with bitcoin is a preparation for bigger picture in the future. Well, Bitcoin is out of thin air is absolutely ironically and difficult to reached due to its step by steps processes. jes bitcoin is money out of massivly wasted computation power, money out of thin air on the other hand sounds much more comfortable compared with that. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: jeromix on December 19, 2018, 05:20:02 AM Yes probably the bitcoin team had earn like this creating money out of nowhere but mind you that the money they earned will definitely not the barometer of their success. Whatever money or how huge they earn will be nothing because what important is how one should live in this cruel world. They may have advantage but they are not excluded in having problems and challenges.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: KingScorpio on December 19, 2018, 05:32:14 AM Yes probably the bitcoin team had earn like this creating money out of nowhere but mind you that the money they earned will definitely not the barometer of their success. Whatever money or how huge they earn will be nothing because what important is how one should live in this cruel world. They may have advantage but they are not excluded in having problems and challenges. jes well they created also a quite cruel world, i mean problem before bitcoin creation was the neverending unsecurity the banking cartels created. but now with bitcoin and crypto the cruel world is basically the global enslavement to the cryptomedia and cryptoindexes, and the corruption that comes with them. with crypto now, businesses become worthless, working for money becomes a questionable activity. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Kakmakr on December 19, 2018, 08:10:58 AM Thousands of game developers are creating "Money from thin Air" for many years now. Let's take a game like World of Warcraft for instance where they have their own in-game currency and economy and where these currencies are regularly being exchanged in grey markets.
We have seen several games where virtual assets are being bought by fiat currencies and this includes virtual property and even add-ons or improvements for in-game items. What I am trying to say is, virtual currencies and goods are the norm now, so Bitcoin is not an exception. ;) Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: biskitop on December 19, 2018, 08:16:12 AM the initial concept of bitcoin is indeed a currency that can be used as a means of payment, but lately there have been many who use it as an investment that makes the current bitcoin market fall and difficult to rise because it is considered not to have functional value. starting from now on bitcoin must return to the initial concept as a means of payment.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: MainIbem on December 19, 2018, 08:57:05 AM Please permit me to ask this rather naive question. Did Satoshi intend bitcoin to be a currency or did he intend bitcoin to be a means of saving numerous people from the manipulations of the banking system extorting huge sums from them as transaction fees?
Whenever I see the discussion of bitcoin as money, it strikes me as if the original intent of bitcoin is being derailed. Can someone put me in the right perspective? Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: pat4cryptoreal on December 19, 2018, 09:28:14 AM Actually banks are creating money that we are using right now and nobody of us know about this. In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank. Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards. https://www.youtube.com/watch?v=oJ5Hq0NDErA What make me confuse over people ideology about money is that they just believe what ever their Government tell them just because that is the tradition that was handed over to them. In a nutshell our fiat currency is make out of thin air as well. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: bitfocus on December 19, 2018, 10:57:36 AM nope, but the fiat you use is just "Money Out of Thin Air" and "Backed by Air".
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: steampunkz on December 19, 2018, 11:06:09 AM Yup in my opinion Bitcoin has been created from nothing and people in past years didn't know either me that BTC can solve some of the financial problems in the world. And because of Satoshi and his/her team internet, blockchain plus bitcoin also became one of the most useful things that ever created.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: TheBunting on December 19, 2018, 11:19:27 AM If anyone is making money out of thin air, it is the banks. They are lending and using oney that doesn’t even physically exist to make more money for themselves. Its getting to a point now where it is on the verge of collapse. If the federal reserve raise the rates then it could cause a worldwide crash of markets. At least with Bitcoin, you know what the maximum amount is that will ever be circulating in the world. It cannot be manipulated by centralised persons or groups either.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: fenican on December 19, 2018, 12:52:50 PM Bitcoin isn't money out of thin air - most of its current value derives from the fact that it is exchangeable for fiat. Remove that fiat conversion option, and it would be worth virtually nothing. It's barely used in commerce.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: nicko122 on December 19, 2018, 01:04:28 PM The concept of currency is assigning value into a system used for exchange in a economy. Ancient Greece used peppercorn as a form currency at one stage in their history. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: brrzzz on December 19, 2018, 08:20:47 PM Probably when the first plastic cards appeared all the money became out of thin air, we became very dependent on electricity.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: stiffbud on December 19, 2018, 08:28:44 PM Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value. As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin. There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble. Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Indrawan77 on December 19, 2018, 11:16:37 PM Unfortunately I have to agree, crypto currencies are creating money from thin air, they got no tangible form, no regulatory body and everyone can create it, this is also the reason for the traditional investors to label crypto as the fraud investment, but its a complex situation and people will argue about this
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: fenican on December 19, 2018, 11:39:20 PM Unfortunately I have to agree, crypto currencies are creating money from thin air, they got no tangible form, no regulatory body and everyone can create it, this is also the reason for the traditional investors to label crypto as the fraud investment, but its a complex situation and people will argue about this Are you joking? Bitcoins are the most heavily regulated currency in existence because the rules are all hard coded, and can't be modified. With "regulated" fiat currency, the "regulators" can print notes in unlimited quantity, can reverse transactions, can freeze assets arbitrarily, etc... Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Eildosa on December 20, 2018, 12:10:09 PM I think we can say that bitcoin is money out of thin air. After all, its price can change very quickly and people can make a good profit. In addition, those who believed in bitcoin at the very beginning of his journey, took a chance and now have a lot of money.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Maxre on December 20, 2018, 12:36:53 PM yeah right i believe bitcoin is money out of thin air.
what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Finestream on December 20, 2018, 12:53:48 PM yeah right i believe bitcoin is money out of thin air. It's really a product of thin air knowing it has survived for 9 years all its troubles like bitcoin is a scam or just a bubble that will be gone suddenly.But hey bitcoin is still alive up to the present and now it's gaining more popularity and trust by the people and even those who doubted it at first.I think a currency that is most likely to receive negativity will have high chances to gain success in the future.what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government. Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Peacemaker1994 on December 20, 2018, 02:40:20 PM Bitcoin is not really born out of the thing air you still have to mine bitcoin by solving a puzzle problem and not everyone can do that yes bitcoin is never gotten in physical form
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Rohtox on December 20, 2018, 03:20:07 PM bitcoin and crypto are the best digital assets with blockchain technology. It will greatly help life in the future, maybe it can replace money if everyone feels happy with bitcoin and all crypto coins because this is very easy to understand and simple.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: AltcoinTradingSignal.com on December 20, 2018, 05:45:44 PM "Nothing is truly backed. Governments are also turning towards digital currencies which pushes the idea of bitcoin or digital currencies more. But, with the reach of governments means that they will be able to push their digital currencies to users more compared to traditional digital currencies including bitcoin.
Also, the value of any asset generally is more speculative of the time we live in. In the past, civilizations used different forms of currencies to do trading. Right now, we are moving towards decentralization and hence makes digital currencies a great chance to have an impact on our economy and social structure." Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: Kiryahs on December 20, 2018, 05:48:54 PM Bitcoin is what will let everyone in the world have money. Once robots will replace humans in many aspects, world will have more money to spread into humanity, bitcoin will help everyone get it.
Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: wxa7115 on December 20, 2018, 08:58:48 PM Actually banks are creating money that we are using right now and nobody of us know about this. It is very interesting that so many people think that bitcoin is a way to just print money out of nowhere when banks are the ones that are doing it right under their noses and they do not seem to notice, banks and their fractional reserve banking practices are one of the most important reasons why there is a huge level of inflation and why once there is a banking crisis so many of them face bankruptcy since they lend money to each other and create money that way and when several banks go bankrupt they have to register huge losses since those banks will not repay their debts.In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank. Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards. https://www.youtube.com/watch?v=oJ5Hq0NDErA Title: Re: Bitcoin Is "Money Out of Thin Air"? Post by: maks-ivanov89 on December 20, 2018, 09:13:52 PM Bitcoin is the same asset as other financial instruments. We cannot touch it, but we can also earn on it. I believe that Bitcoin is one of the best tools for speculation. I trade on the BitSeven platform and with the help of Bitcoin I was able to earn good money.
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