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Anorthernsoul
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Just now, TheGingerQuiff said:

 

Unlike stocks and shares that only ever rise.

 

Yeah but I would no sooner put my money into a company I knew nothing about than I would bitcoin. 

 

Also, there's a fundamental difference. There's a company behind the value of a share. There are people working for that company, it's producing a good or a service. There's something tangible there against which to make an assessment of valuation. 

 

Youve said above "I think Bitcoin will rally before the alts". On the basis of what? Because it was that much before so it has to go that high again. That's just hope. 

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3 hours ago, Gemmill said:

 

Yeah but I would no sooner put my money into a company I knew nothing about than I would bitcoin. 

 

Also, there's a fundamental difference. There's a company behind the value of a share. There are people working for that company, it's producing a good or a service. There's something tangible there against which to make an assessment of valuation. 

 

Youve said above "I think Bitcoin will rally before the alts". On the basis of what? Because it was that much before so it has to go that high again. That's just hope. 

 

On the basis of market trends. What's tangible is subjective though. What's tangible about actual "fiat" currency?

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28 minutes ago, TheGingerQuiff said:

 

BTC != Blockchain.  I don't believe it will succeed as a currency or as a Blockchain technology for contracts or autonomous cars for example.  

 

It is purely a speculative investment and has value only as it's tied to Blockchain.

 

I'm happy to listen to the other side.

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1 hour ago, adios said:

BTC != Blockchain.  I don't believe it will succeed as a currency or as a Blockchain technology for contracts or autonomous cars for example.  

 

It is purely a speculative investment and has value only as it's tied to Blockchain.

 

I'm happy to listen to the other side.

 

It's got value as a store of wealth, in the same way as gold has despite at the end of the day being a pointless lump of metal

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2 minutes ago, TheGingerQuiff said:

 

It's got value as a store of wealth, in the same way as gold has despite at the end of the day being a pointless lump of metal

 

Why is it necessary if we already have gold?  A standard around the world for thousands of years. I suppose it's useful as a hedge?

 

It seems the price is largely being driven by speculation; what is the naked value (to the nearest thousand or even five thousand) of it as a store of wealth?

 

As to your question about fiat, it is in the interests of the most powerful people in the world that it does not collapse (assuming major currencies).  It's also in all of our interests given the probable armageddon that would follow a true global financial collapse.

 

We found out post-2008 what happens when the status quo is in danger of collapsing, they just change the rules.  Bitcoin is great because it's free from government control, it also lacks their protection.

 

The problems that Bitcoin has, I feel, are being resolved too slowly to cope with how fast this kind of technology moves these days.

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1 hour ago, Kevin Carr's Gloves said:

Blockchain is an open source protocol it has no intrinsic value because anybody can copy it if they want. Bitcoin is something which uses blockchain and just has a value because it aids criminal enterprises.

 

Or takes business away from criminal enterprises, depends on how enlightened you are. Bitcoin also has a capped 21,000,000 supply. If copied it becomes a lower value altcoin, not bitcoin. So bitcoin cant be copied.

Edited by TheGingerQuiff
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