Lack of hard asset backing for bitcoin a problem? Witness QQ coins.

Bitcoin Forum

September 23, 2024, 12:51:06 PM

Welcome, Guest. Please login or register.

News: Latest Bitcoin Core release: 27.1 [Torrent]

Home

Help

Bitcoin Forum > Economy > Economics > Lack of hard asset backing for bitcoin a problem? Witness QQ coins.

Pages: « 1 [2] All

« previous topic next topic »

Author

Topic: Lack of hard asset backing for bitcoin a problem? Witness QQ coins. (Read 6969 times)

ShadowOfHarbringer

Legendary

Offline

Activity: 1470
Merit: 1006

Bringing Legendary Har® to you since 1952

Re: Lack of hard asset backing for bitcoin a problem? Witness QQ coins.

January 06, 2011, 11:29:39 PM

#21

Quote from: Vinnie on January 06, 2011, 11:22:27 PM

Quote from: ShadowOfHarbringer on January 06, 2011, 11:20:41 PM

OK, but gold is not also backed by anything itself.
So what ?

Agreed! Gold also is not "backed" by anything and so what? I am just arguing that bitcoins are also not backed and should be valued at their market price.

OK, actually we're both right, this discussion is pointless.

How did this start ? Ah, i said that bitcoins are "backed". Well, wrong choice of words. I should have said that they are valued at their market price like a commodity.
Mea culpa Wink

Hello, btcxio
https://old.reddit.com/r/btc/comments/1bmmxwv/future_of_rbtc_the_vision_of_shadow/kwecyun/

{{ Bitcoin.pl Elite Member, Bitcointalk ★Legendary★ [1344] }}
1NLWBAD7ZD82fJDDawKfp5RAKSR8YWWYd3 | GPG/PGP Keys [512E/F7A0DD8B]
Hate forced fees ? Use "No Forced TX Fee" Bitcoin Client fork. Now updated to v0.10.1 ! (use carefully !)
Should the Bitcoin Foundation be moved to Switzerland ? Vote here

Vinnie

Full Member

Offline

Activity: 126
Merit: 100

Re: Lack of hard asset backing for bitcoin a problem? Witness QQ coins.

January 07, 2011, 05:25:32 AM

#22

Quote from: ShadowOfHarbringer on January 06, 2011, 11:29:39 PM