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Author Topic: If there was no fiat where will BTC base its value?  (Read 2206 times)
deisik
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August 26, 2016, 06:53:30 AM
Last edit: August 26, 2016, 07:22:34 AM by deisik
 #61

And so what? This doesn't in the least imply that things obtain their value from it by any possible means. I am greatly amazed that someone can actually think so (that gold is the source of all value out there). Bitcoin right now is one of the best vehicles for speculation available for broad, mostly (financially) uneducated masses of general public. That's the primary source of Bitcoin value at the moment (coupled with its outstanding and sometimes devastating volatility)...

As you can see, gold has nothing to do with its value since these are Bitcoin intrinsic properties (namely, volatility and availability)

I didn't say that Gold is the source of all value right now. I was pointing that at the extreme scenario of when there is no fiat. That aside, you still didn't answer my question of what you think gives Bitcoin value right now.

I quote the relevant part of my post below (I simply don't understand how you could miss it). In short, it is availability (accessibility) and volatility of Bitcoin (two main sources that give Bitcoin value)

Quote
Bitcoin right now is one of the best vehicles for speculation available for broad, mostly (financially) uneducated masses of general public. That's the primary source of Bitcoin value at the moment (coupled with its outstanding and sometimes devastating volatility)

Did you expect something else?

purebitco
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August 26, 2016, 02:14:44 PM
 #62

Fiat currencies will be in use at least 100 years and more. There are many countries in the world, where computers are something exclusive, like India, Nepal etc. Plus there are also many people, who like to use fiat paper money, especially in Europe. And in fact BTC users are small group from all world people, who use money.  Wink 
i dont think so, it might be used for a while but in 100 years we will definitely have some kind of a crypto instead and the life will be way easier then

 
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buxlover
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September 30, 2016, 05:03:56 AM
 #63

I was thinking that every bitcoiner wants a world without fiat, only bitcoins. Ok, if there was no fiat whatsoever, then where do you think will bitcoin base its value? Will it be in gold? But how much?

How do we determine the real value measure of bitcoin in an economy that has been very dependent on fiat?
If there is no fiat currency, Bitcoin would have named as fiat currency and the paper currency would be evolved later and everyone will compare rate of paper currency to Bitcoin
Bitcoin price may compared with some physical product that may include gold, silver, grains, etc... We can't guess which one product will be compared with Bitcoin for Price.

Interesting thought, how did you come up with such imagination.
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