the worth of bitcoins

[Skieleton]

i came across bitcoin yesterday. i read the wikipedia article, the bitcoin faq and whatever else popped up on

google. i was immediatly stoked. i like this idea, and think the bitcoin has a future. reading forum posts about

thoughts on this new concept all pull up the same idea "it wont work because there is nothing backing it". i thought

long and hard about this, and i think i have it figured out.

first, an insight on currency in general. buying with currency, is glorified bartering. we used to like someones

cow, and trade two of our goats for it. to each of us, this was fair, and we each walked away with our new animals.

then the government stepped in and decided they deserved a cut of all transactions "to help pay for improvements to

the area they governed" to bring more people to their area, and make more money. they decided to use precious metals

as a base. it was in limited supply and caled valuable(maybe because it was shiny).

trading stuff for gold was the new "bartering". but people wouldnt wanna carry around a large amount of rock, so a

paper symbol was created to carry around called the dollar bill.

so now, we dont trade our two goats for that cow, we trade a symbol of the gold that the cow is worth. its bartering

with a tax

many people coorelate gold as the base of our currency, but thats very wrong. gold is only the base of the "value"

of the currency. the more money that gets printed, the more all money loses value.

bitcoin is not the currency. bitcoin is the gold. its currency is all currency. this could take us back to the roots

of bartering.  you can trade anything for bits. services, goods, any national currency, or anything else that could

be bought or sold with any bartering catalyst.

but whats keeping the bits in check? itself. they are slowly releasing bitcoins until 2017, at which time, there

will be 21 million bits in existance. thats the cap. no more will be inserted into the bitcoin economy. from then

on, the only fluxuation will be supply and demand. no inflation, no deficit, and no tampering. gold and bits will have the same limits of finite numbers

depending on the public acceptance, a cheeseburger could cost 10 bits or 1000 bits. my dream is for the

bitcoin to be in high enough demand to be the "credits" we see in sci fi movies. unregulated, and international.

ribuck from freedom radio said so much with one sentence:
In a free world, we need to learn how to evaluate the value of something to us, and learn to stop expecting others

to assign (and guarantee) a value to it.

bitcoins has a lot of potential, the way it reaches its potential is to prove to daily vendors that bitcoins will always have a value.

Bitcoin is the future. This is enough. It is sad that so many people do not believe in BTC. We must be patient and believe that this will change.

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[cyriljundos]

the value of bitcoins is like a gold pilot that you can buy money for its great value and it can also be a big future bitcoin

[sinthia1234]

Bitcoin is actually profitable. The value of bitcoin  is like a gold pilot that you can buy money for its great value and it can also be a big future bitcoin.

[heinz]

Bitcoin is actually profitable. The value of bitcoin  is like a gold pilot that you can buy money for its great value and it can also be a big future bitcoin.

Because of people like you is that there aren't many people that are joining here, because they all consider bitcoin as a money machine. STOP considering bitcoin as a way to become more rich, that is more than ridiculous to be honest, and you wont get anywhere.

[LovelyFLOWER]

i came across bitcoin yesterday. i read the wikipedia article, the bitcoin faq and whatever else popped up on

google. i was immediatly stoked. i like this idea, and think the bitcoin has a future. reading forum posts about

thoughts on this new concept all pull up the same idea "it wont work because there is nothing backing it". i thought

long and hard about this, and i think i have it figured out.

first, an insight on currency in general. buying with currency, is glorified bartering. we used to like someones

cow, and trade two of our goats for it. to each of us, this was fair, and we each walked away with our new animals.

then the government stepped in and decided they deserved a cut of all transactions "to help pay for improvements to

the area they governed" to bring more people to their area, and make more money. they decided to use precious metals

as a base. it was in limited supply and caled valuable(maybe because it was shiny).

trading stuff for gold was the new "bartering". but people wouldnt wanna carry around a large amount of rock, so a

paper symbol was created to carry around called the dollar bill.

so now, we dont trade our two goats for that cow, we trade a symbol of the gold that the cow is worth. its bartering

with a tax

many people coorelate gold as the base of our currency, but thats very wrong. gold is only the base of the "value"

of the currency. the more money that gets printed, the more all money loses value.

bitcoin is not the currency. bitcoin is the gold. its currency is all currency. this could take us back to the roots

of bartering.  you can trade anything for bits. services, goods, any national currency, or anything else that could

be bought or sold with any bartering catalyst.

but whats keeping the bits in check? itself. they are slowly releasing bitcoins until 2017, at which time, there

will be 21 million bits in existance. thats the cap. no more will be inserted into the bitcoin economy. from then

on, the only fluxuation will be supply and demand. no inflation, no deficit, and no tampering. gold and bits will have the same limits of finite numbers

depending on the public acceptance, a cheeseburger could cost 10 bits or 1000 bits. my dream is for the

bitcoin to be in high enough demand to be the "credits" we see in sci fi movies. unregulated, and international.

ribuck from freedom radio said so much with one sentence:
In a free world, we need to learn how to evaluate the value of something to us, and learn to stop expecting others

to assign (and guarantee) a value to it.

bitcoins has a lot of potential, the way it reaches its potential is to prove to daily vendors that bitcoins will always have a value.

For me bitcoin is worth because it provide the needs of my kids because l found out also that if you wait for the price you want you can be rich.So this is my hope to have a chance to be rich because theres a lot of rich people created by bitcoin.

[nagobinga]

the value of bitcoin is now very expensive than before but surely there are ups and downs and tomorrow the price can go down from before the unexpected.

[bigdude]

this pullback just delays the inevitable drop to 5k and we couldn't even get to 7k
let's see if the bulls can defend 6k again.
I though if bitcoin can stable around 7-10k should be very nice for us

[Mlowo]

the value of bitcoin has no limit and also bitcoin income is very much, I work in bitcoin really, let me can successfully work in bitcoin.

[makenoise]

One of the reasons for getting a price is that it is used as a means of exchange just because of government orders. However, bitcoin is actually safer and safer than fiat currency when you understand the mechanism behind it. it. The basic difference is that Ponzi schemes and pyramids create value only for the oldest investor by redistributing money from new entrants.

[Destofe]

As of Thursday, bitcoin's value was just above $16,500, according to CoinDesk. Based on that value, one bitcoin would be worth a little over $16,500 and 1.6 bitcoins would be worth more than $26,400 today. This estimate does not include any additional fees or transactional costs.

[CryptoFeller]

Bitcoin is worth an whole lot as a currency. Bitcoin is the only currency whose value can increase that much within just 10 years.
Notwithstanding the fact that Bitcoin still has a lot of potential to further increase in value and make significant impacts in the finances of individuals because Bitcoin benefits individuals more than corporations.