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Title: The intrinsic value of crypto currency Post by: martijnp on December 04, 2013, 03:20:54 PM Hi all,
I'm definitely a newbie when it comes to crypto currency. It's fascinating to see how fast this is evolving. But as far as I know, crypto currency is still a currency and not money, because it holds no intrinsic value. Will it ever be possible to have a decentralized crypto currency backed by (centralized) assets like gold and silver? In other words, will crypto currency eventually become real money? Thanks! Martijn Title: Re: The intrinsic value of crypto currency Post by: ammanurt on December 04, 2013, 03:26:00 PM Although I'm a newbie too, I wonder about bitcoins not having intrinsic value. There are already online shops where you can directly pay using bitcoins, how then are bitcoins different from 'real' money?
Title: Re: The intrinsic value of crypto currency Post by: niothor on December 04, 2013, 03:27:29 PM Wait till you go out of the newbie jail and join one of the thousands of threads with same title already opened.
https://bitcointalk.org/index.php?topic=344216.0 https://bitcointalk.org/index.php?topic=336463.0 You won't get too much feedback on the newbie forum , and I mean "real" feedback Title: Re: The intrinsic value of crypto currency Post by: martijnp on December 04, 2013, 04:05:49 PM Thanks for posting the links.. It's almost scary to see how many information is available already..
Can't wait to get out of newbie-jail ;) Title: Re: The intrinsic value of crypto currency Post by: Heutenamos on December 04, 2013, 04:08:56 PM I'm definitely a newbie when it comes to crypto currency. It's fascinating to see how fast this is evolving. But as far as I know, crypto currency is still a currency and not money, because it holds no intrinsic value. Will it ever be possible to have a decentralized crypto currency backed by (centralized) assets like gold and silver? In other words, will crypto currency eventually become real money? Maybe you will be surprised, but the real money like USD is backed by trust only. Title: Re: The intrinsic value of crypto currency Post by: PenAndPaper on December 04, 2013, 04:18:40 PM Hi all, I'm definitely a newbie when it comes to crypto currency. It's fascinating to see how fast this is evolving. But as far as I know, crypto currency is still a currency and not money, because it holds no intrinsic value. Will it ever be possible to have a decentralized crypto currency backed by (centralized) assets like gold and silver? In other words, will crypto currency eventually become real money? Thanks! Martijn It holds intrinsic value and not only as a currency. Check this article about its intrinsic value as a payment network http://www.coindesk.com/bitcoin-price-reach-98500-say-wall-street-analysts/ Spoiler Alert: Estimation is for 100000$ / btc Title: Re: The intrinsic value of crypto currency Post by: martijnp on December 04, 2013, 06:30:44 PM Thanks all!
@Heutenamos: The USD is currency to me and not money as it is indeed backed by trust only! Real money is considered a store of value! |