Bitcoin

Out of context: Reply #983

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• colin_s1

  Can someone tell me how bitcoin is a currency and not a product? It seems that it's valuation is based less off of how, say, the US dollar interacts with a market in terms of being evaluated against a wide array of consumable goods but more a direct resource based operation such as gold or diamonds.

  I just don't get how this will end up any different than the idea of the gold standard - eventually it'll just be states trading off a concept of centralized value and creating debt, however without being regulated in and of itself, the ideas of lending and mass use (which are central to the idea of large-scale currency-based economics) aren't applicable to bitcoin.

  I dunno seems like a libertarian's dream, and fuck those types.

  colin_s 1Permalink

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  • tulips
    ********
  • It's more like a stock. IE: A share of the bitcoin blockchain. Lots of people want it now, and the price goes up.monNom
  • Debt is usually priced in things of stable value, as the interest rate would be impossible otherwise. Thus, no bitcoin loans.monNom

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