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Author Topic: [2018-0-03] Bitcoin is worth nothing and Backed by Nothing. Really?  (Read 257 times)
veleten
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January 07, 2019, 08:32:04 PM
 #21

it is worth exactly the amount it is traded for at the moment
if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand

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January 07, 2019, 11:57:34 PM
 #22

If I ready to buy Bitcoin for $0.1 then it can't be worthless Smiley
A definite pump would start to come out and you know what's going to be their next words? "Bitcoin is a pump and dump scheme". Considering the amount of people that's willing to buy it higher than $1,000 then everyone will rush to purchase it if it goes to $2,500 - $0.01

The market is strong and fair enough to say that bitcoin is backed by the people and businesses. Fiat is backed of by the government so it has value and the government controls the people. While us, we as citizens are backing up bitcoin directly without the government's consent.

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January 11, 2019, 01:30:25 PM
 #23

If I ready to buy Bitcoin for $0.1 then it can't be worthless Smiley
I'm buying Bitcoin at current levels, and there are more smart minds doing the same, so it's even less worthless right now.

Everything has value as long as we believe it does--are willing to pay up for it--accept it as means of exchange. Bitcoin checks all boxes and the amount of people thinking the same keeps growing.

No coiners will always find a way to trash Bitcoin, and I don't expect it to change, not even when Bitcoin becomes super mainstream. There are still skeptics talking about gold like how people talk about Bitcoin.

Bitcoiners in the same way trash altcoins. It all comes down to whether or not it's valuable to the person directly. In case it isn't, it by default is painted off as useless, scam, and so forth....
And even if if falls to much lower price still value is indeed,and besides from what i remember in bitcoin history ,this coin almost started without even a value at all so for this to be worthless then it will take us another 10 years to find it out

it is worth exactly the amount it is traded for at the moment
if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand

Doubt that we will reach zero value so lets not add impossible here..but you’re right that supply and demand is what backing this cryptocurrency

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January 14, 2019, 09:44:30 AM
 #24

Yes it's true. But if you talk like that, then the money we all use in everyday life (we pay in the store, order pizza and so on) is also worthless. Therefore, I will say this: if Bitcoin is used for some purpose (for example, to buy a car), then everything is fine, Bitcoin has a price in this case. If Bitcoin is not used to acquire any benefits in life, then yes, Bitcoin in this case doesn't cost anything.
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