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April 19, 2018, 09:07:05 PM |
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I`m already pretty tired to see every single day new threats as "Bitcoin has no any value" "The real value of bitcoin is 0" "Bitcoin has no real value" "What is the real value of Bitcoin" ... and similar.
Usually in such threats we see bitcoin in opposite to fiat, which is not correct: we should only make a comparison between two similar alternatives which are in same field.
Bitcoin IS A CURRENCY, as fiat is a currency too.
You can trade bitcoins for goods and can trade it for other currencies as well, so
1) no doubt currently bitcoin is a currency.
How do we measure the value of a currency? I do ever wander how much fiat supporters are surprised that the common currencies are not anymore covered by gold or any other real-world goods. It`s not a hot news, it`s from the last 100 years (almost). It`s enough to stop here, but I can go even further for better understanding. Even if ex. the dollar is fully covered by gold, WHAT IS EXACTLY the value of gold? It has NO ANY VALUE except that one given by us. If You get a piece of gold, it will have some weight, probably some size, most likely a colour... but definitely You`ll not be able to find out any value, nor any modern lab in the world will be able to do that. If You want to find the real value of the gold, put it in front of Your dog. It won`t be interested, it won`t be happy by that fact, it won`t get it, nor inhume it, nor put it in its pockets. The real value of gold for the real dog is 0. Put now a bone in front of the dog. It definitely will have a value for it - it will get it, defend it, keep and inhume it. The GOODS have a real value. The goods which are needed for existence have real value - oxygen, water, food. The value of any other thing is into the possibility to trade it for these goods. And only the public consensus can decide how to trade them and what to trade. We can trade clams, cocoa beans or very valuable little pebles if we decide to do. Our children can decide that gold is something ugly and useless and to trade a ton of it for pizza if someone is agree to receive it. So
2) The real value of the bitcoin is equal to the real value of any other currency = public consensus about it.
The other serious reason to devaluate the bitcoin according the fiat supporters is that You can`t hold in your hands a bitcoin when You can hold, smell, taste and hear the paper money. The bitcoin is so digital, and the fiat is so real.. And another big new for them: the CASH is already DEAD. In the major part of countries, it's not just uncomfortable to buy a car with cash - it`s illegal! You can not make large purchases "offline" with cash - so
3) THE MONEY ARE ALREADY DIGITAL, rather than a physical,
they are just digital in an uncomfortable, slow and commercial way. You have to know: bitcoin is much more better in that.
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