Bitcoin
Out of context: Reply #1940
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- DaveO2
Until it truly stabilizes with minimal fluctuation it is impossible for me to think of it as a mainstream currency.
How could regular people ever sleep at night knowing that the 'money' they have is constantly going up and down? It'd be like having all your money in a volatile stock that is always bouncing around.
It's an amazing philosophical paradox. If a single bitcoin is worth $50k in New York, how much is that worth in Nairobi? The equivalent of $50k? So the value will always be tied to a 'real world' currency?
I would love to read an Alain Du Boitton analysis of it because its quite fascinating when we examine what anything is worth.
My dad always said that something is only worth what someone else is willing to pay for it. Kinda feels even more true with BTC!
Unless all currency in the world is Bitcoin i don't see how it isn't always tracked back to a fiat currency.
Still – the fact that a mythical character invented it and computers 'mine' the currency is so cool and futuristic, still can't get over that.
- It’s not your house that gains value year after year. It’s the dollar that is not worth as much.BH26