Why do people assign value to Bitcoins?

[marci003]

because they are the cash for digital age.. and they gonna replace ******* banks in near future

[bitcoinbear]

because they are the cash for digital age.. and they gonna replace ******* banks in near future

I do not think banks will be completely replaced in the near future. There is more to banks than just what bitcoin does.

[loufiethecat]

BTCrules.    If you don't like BTC then you suck.    I love BTC trading  and BTC mining  and BTC funding  and all the little BTC people out there....
BTC forever!!! 

[J-Norm]

Fiat currencies that can be produced in any amount will always go to their intrinsic value, zero. The US Dollar is going to be worth about as much as the Zimbabwe Dollar(look it up, fascination story).

[kingcrimson]

The gov would not allow a competing currency to rise up without a fight. The US has gone to war with other countries for less (many conspiracies on this). I do think btc and gold, silver, are going to be one of the best investments one can go into. We'll see

[Fjordbit]

last year I got about 10% of my income as a tax return

You should probably increase your exemptions. Otherwise, you're just giving the government an interest free loan.

[bitcoinbear]

last year I got about 10% of my income as a tax return

You should probably increase your exemptions. Otherwise, you're just giving the government an interest free loan.

I've got my exemptions cranked up as high as they can go. I just have a combination of a moderate salary and a larger family, not much more that I can do.

[MinorMiner]

Bitcoins, which you can think of like 'Internet Cash', can't be traced (easily) and cannot be revoked (chargeback) once sent). Once the payment is made, that's it.

It's a double-edged sword though since who you send to can just say 'thanks very much, bye'.

The value comes from it being used to barter for things that people wish to keep quiet, like illegal drugs.

[Jutarul]

Bitcoins, which you can think of like 'Internet Cash', can't be traced (easily) and cannot be revoked (chargeback) once sent). Once the payment is made, that's it.

It's a double-edged sword though since who you send to can just say 'thanks very much, bye'.

The value comes from it being used to barter for things that people wish to keep quiet, like illegal drugs.

http://z1x.dk/2011/07/the-bitcoin-comic-by-z1xwitch-awkwardmoment/

[Fiyasko]

I can't pay taxes with it. I can't fund my credit card with it. Why do people value Bitcoins at $11 a piece?

Ahahahahhaha, Im paying my taxes with it, I have funded my parents credit card with it, And One bitcoin to me is worth more than $1000 Fiat Euros
Seriously. Offer me $1000 Euros for a bitcoin, Just so i can say NO.
Why? Because my bitcoin is worth more, To me, And to the people who use it.

(as a bitcoin miner in general) If i say its worth more, try to sell it for more, And if people agree and purchase it at the higher price, Then the reason as to why its COMMON value is around $10.50USD, should be obvious. Its because we feel its worth more.


Do we really need to go Back In Time to explain why they are worth any value atall?
I'll trade you Millions of BEAUTIFUL SHINY SUNREFLECTING LUSIOUS BROWN PLATES (peices of polished copper)
For your worthless dirty, Ulgy, old, used and smelly peice of RoadKill. (A racoon hat)

Whats gonna happen? It all depends on if the Racoon Hat seller's country has heard/seen of Copper yet.

[Fiyasko]

The gov would not allow a competing currency to rise up without a fight. The US has gone to war with other countries for less (many conspiracies on this). I do think btc and gold, silver, are going to be one of the best investments one can go into. We'll see

YOUR government, The US government, Would goto war over something like a Rising Currency.
And i would be on the other side, Killing you for DECLAIRING a type of Currency "Bad and illegal" Why? Because they could be worth Anything Anywhere.

Fuck the United States' lust for war, You have the Biggest debt, And you plan to FIGHT it away, Rather than bend over backwards like a man, And take your medicine that you loaned from China.
Or hey, Hey how about this, US invests in bitcoin, And saves themselves from collapse, Why? Because they could be worth Anything Anywhere

D'you guys remeber when USA tried to buy oil from Iran and Pakistan? And Iran wouldnt take USDollars?, They wanted things like Gold/Silver The US Shot the fucking guy, And waited for the next guy to accept USDollars.
Well, He said NO aswell, Poof, Gone from history and Silenced.
Next guy stepped up and took a buncha Shit Printed USDollars that took about a Day to crank out. Its worthless.

[firefop]

The gov would not allow a competing currency to rise up without a fight. The US has gone to war with other countries for less (many conspiracies on this). I do think btc and gold, silver, are going to be one of the best investments one can go into. We'll see

YOUR government, The US government, Would goto war over something like a Rising Currency.
And i would be on the other side, Killing you for DECLAIRING a type of Currency "Bad and illegal" Why? Because they could be worth Anything Anywhere.

Fuck the United States' lust for war, You have the Biggest debt, And you plan to FIGHT it away, Rather than bend over backwards like a man, And take your medicine that you loaned from China.
Or hey, Hey how about this, US invests in bitcoin, And saves themselves from collapse, Why? Because they could be worth Anything Anywhere

D'you guys remeber when USA tried to buy oil from Iran and Pakistan? And Iran wouldnt take USDollars?, They wanted things like Gold/Silver The US Shot the fucking guy, And waited for the next guy to accept USDollars.
Well, He said NO aswell, Poof, Gone from history and Silenced.
Next guy stepped up and took a buncha Shit Printed USDollars that took about a Day to crank out. Its worthless.

You have an interesting view on history. Blame the USA for anything if it makes you feel better... but the fact of the matter is: A fertile land, founded on liberty has the potential to raise great and terrifying harvests.

The USA has generated greater good than any other nation on earth. See the internet, which is without a doubt the greatest tool to promote freedom that has ever existed.

[Kazimir]

but the fact of the matter is: A fertile land, founded on liberty

Liberty? Not for the original inhabitants (native indians).

See the internet, which is without a doubt the greatest tool to promote freedom that has ever existed.

Right. How funny that the same USA now fanatically tries to control, own, censor, manipulate and restrict their internet in any way it can, for commercial and political reasons.

[bitcoinbear]

You have an interesting view on history. Blame the USA for anything if it makes you feel better... but the fact of the matter is: A fertile land, founded on liberty has the potential to raise great and terrifying harvests.

The USA has generated greater good than any other nation on earth. See the internet, which is without a doubt the greatest tool to promote freedom that has ever existed.

Sure, the US has generated great things, but recently we have a history of smashing up other peoples countries. Just think how much better things could be if the US was more cooperative and less hostile!

[DannyHamilton]

last year I got about 10% of my income as a tax return

You should probably increase your exemptions. Otherwise, you're just giving the government an interest free loan.

I've got my exemptions cranked up as high as they can go. I just have a combination of a moderate salary and a larger family, not much more that I can do.

I assume that you are paying your Income Taxes to the U.S. and receive an annual W2 from your employer for filing your taxes? If so, then you most likely had to fill out a W4 when you were hired. I'm not aware of any limit on allowances on line 5 of the W4.  You may want to get a copy of IRS Publication 505 "Tax Withholding and Estimated Tax" and look it over.  Then get a copy of your current W4 and a blank W4 from your employer.  Taking the following actions on your W4 with each employer may help you use that extra 10% throughout the year rather than lending it to the government for free every year.

• Verify in the "Personal Allowances Worksheet" on your W4 that you have a 1 in line A, line B, and line C
• Verify in the "Personal Allowances Worksheet" on your W4 that the number in line D matches your actual number of dependents
• If you have at least $1,900 in dependent care expenses, verify that you have a 1 in line F of the "Personal Allowances Worksheet" on form W4
• Double check your math on your calculation of the value for line G of the "Personal Allowances Worksheet" on form W4
• If you typically itemize your deductions, make sure you fill out the "Deductions and Adjustments Worksheet" on form W4
• If your wife is also employed, or you work more than one job, be sure to fill out the "Two-Earners/Multiple Jobs Worksheet" on form W4

If all of the above have been done correctly, and you still find that you receive a refund of 10% of your income at the end of the year, consider increasing the number in line 5 on the W4 by 1 or 2.

[Staring Owl]

Because I don't pay taxes with it.

[BlueTemplar]

One bitcoin to me is worth more than $1000 Fiat Euros

I'll sell you TWO bitcoins for 1000 €. PM me.

[xx78213]

Drugs, mmkay.

[firefop]

Sure, the US has generated great things, but recently we have a history of smashing up other peoples countries. Just think how much better things could be if the US was more cooperative and less hostile!

I believe that growth only comes after trauma... If the USA was less hostile... everyone in the EU would probably be speaking German. Jews would be extinct. The middle east would still be busy making war with each other. Africa would probably be mostly depopulated.

I don't think those places would be better off without US intervention but the people would probably be happier (if they weren't dead).

IMO the USA has been standing in the gap for the rest of the world for 60+ years. It's well past time for some other nations to start playing "lets save the world" so we can take a break while we deal with internal issues. So what nation will take over world police action while American has a revolution?

Anyone? *taptaptap - this thing even on?*

[Fiyasko]

Sure, the US has generated great things, but recently we have a history of smashing up other peoples countries. Just think how much better things could be if the US was more cooperative and less hostile!

I believe that growth only comes after trauma... If the USA was less hostile... everyone in the EU would probably be speaking German. Jews would be extinct. The middle east would still be busy making war with each other. Africa would probably be mostly depopulated.

I don't think those places would be better off without US intervention but the people would probably be happier (if they weren't dead).

IMO the USA has been standing in the gap for the rest of the world for 60+ years. It's well past time for some other nations to start playing "lets save the world" so we can take a break while we deal with internal issues. So what nation will take over world police action while American has a revolution?

Anyone? *taptaptap - this thing even on?*

*waves arm* Canada was food rescue and shelter for the past 30years.
"TEAM AMERICA, WORLD POLICE" Was a freaking great movie.
But really, To "pat america on the bat", Who else could act like world police in the way that they do, With as little resistance that they get.
Lol imagine if China or Russia tried to play World Police. The earth would freak the fuck out!
But america does it, And we can relax... Kinda.
Good job Uncle Sam...
Fuck You Big Brother.