Bitcoin is Worthless

[bb113]

What's with all these types of posts?:

Why would anyone want something that increases in value over time?

What possible use could this have? I prefer to acquire things that slowly become worthless because then I don't feel bad about getting rid of it.

I would never work harder to get something that will increase in value than I would to get something that decreases in value.

Seems like some twisted logic to me.

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[wopwop]

how dare you come to this forum and make such negative statements?

shoot, shush you evil underworld troll

[Logik]

Consumer culture brain-washing. Don't worry though; people never though that way in the past, and hopefully they won't think that way in the future.

[prezbo]

The idea is that if it only ever increased in value, no one wants to part with it, thus it ends up becoming worthless.

This might be true from a theoretical standpoint, but as bitcoin has proven, it is not the case in reality... Even if I knew for a fact my bitcoins will be worth more next week, I would still probably rather pay with them because it's more convenient.

[bb113]

The idea is that if it only ever increased in value, no one wants to part with it, thus it ends up becoming worthless.

That just means it is really undervalued right now in the opinion of those who would not part with it. Either that or the stuff people are offering for it isn't as valuable as they think.

[tutkarz]

The idea is that if it only ever increased in value, no one wants to part with it, thus it ends up becoming worthless.

This might be true from a theoretical standpoint, but as bitcoin has proven, it is not the case in reality... Even if I knew for a fact my bitcoins will be worth more next week, I would still probably rather pay with them because it's more convenient.

That was true with gold but bitcoin isnt shiny so people want to hold it. People simply like its ease of use. Thats why it has potential to replace known currency.

[wopwop]

The idea is that if it only ever increased in value, no one wants to part with it, thus it ends up becoming worthless.

This might be true from a theoretical standpoint, but as bitcoin has proven, it is not the case in reality... Even if I knew for a fact my bitcoins will be worth more next week, I would still probably rather pay with them because it's more convenient.

That was true with gold but bitcoin isnt shiny so people want to hold it. People simply like its ease of use. Thats why it has potential to replace known currency.

a true believer, i can tell!

[chmod755]

That was true with gold but bitcoin isnt shiny so people want to hold it. People simply like its ease of use. Thats why it has potential to replace known currency.

However gold and other precious metals are not transparent. You'll never know if someone is producing gold in lab or what the limitation is - if someone is trying to make a double spend - it's possible for everyone to detect it. It's also more expensive to verify if a gold bar is real and pure.

[wopwop]

That was true with gold but bitcoin isnt shiny so people want to hold it. People simply like its ease of use. Thats why it has potential to replace known currency.

However gold and other precious metals are not transparent. You'll never know if someone is producing gold in lab or what the limitation is - if someone is trying to make a double spend - it's possible for everyone to detect it.

make gold in a lab

 

[alexh]

However gold and other precious metals are not transparent. You'll never know if someone is producing gold in lab or what the limitation is - if someone is trying to make a double spend - it's possible for everyone to detect it.

You can never be sure, especially if its about money.

[ralree]

Why would anyone want something that increases in value over time?

What possible use could this have? I prefer to acquire things that slowly become worthless because then I don't feel bad about getting rid of it.

I would never work harder to get something that will increase in value than I would to get something that decreases in value.

Uh, real estate?

[ShadowOfHarbringer]

However gold and other precious metals are not transparent. You'll never know if someone is producing gold in lab or what the limitation is - if someone is trying to make a double spend - it's possible for everyone to detect it.

You can never be sure, especially if its about money.

Yes you can.

It is impossible/infeasible to counterfeit Bitcoin using today's technology.

[chmod755]

It is impossible/infeasible to counterfeit Bitcoin using today's technology.

My point was: Even if it's possible to do it today - it's possible to detect it and fix it.

[Ozymandias]

Why would anyone want something that increases in value over time?

What possible use could this have? I prefer to acquire things that slowly become worthless because then I don't feel bad about getting rid of it.

I would never work harder to get something that will increase in value than I would to get something that decreases in value.

Uh, real estate?

I'm sure the quoted person bought all of their real estate in 2007 thus satisfying their brutally illogical wishes.

[antibanker]

your post is worthless

[Eri]

What's with all these types of posts?:

Why would anyone want something that increases in value over time?

What possible use could this have? I prefer to acquire things that slowly become worthless because then I don't feel bad about getting rid of it.

I would never work harder to get something that will increase in value than I would to get something that decreases in value.

Seems like some twisted logic to me.

i agree, i dont get it either.

[Troll Toll]

underworld troll?

pay the toll

[WiseOldOwl]

That was true with gold but bitcoin isnt shiny so people want to hold it. People simply like its ease of use. Thats why it has potential to replace known currency.

However gold and other precious metals are not transparent. You'll never know if someone is producing gold in lab or what the limitation is - if someone is trying to make a double spend - it's possible for everyone to detect it.

make gold in a lab

 

http://en.wikipedia.org/wiki/Synthesis_of_precious_metals#Gold

Just not cost effective yet

[nebulus]

The fact that it is extremely difficult to counterfeit makes it pretty valuable.

[gogxmagog]

just a case of being provocative for provocation's fault