On 14 Dec 2013, at 23:42, TH Kaas wrote:

It's based on just as much as any medium of exchange. It's also quite convenient to use, especially for international transfers.

Right.

A money is anything you trust, and which is hard to copy. Bitcoins might have an added value to the fact that we know more and more than the traditional banks are not playing the rule, and are hostage of corporatism. So, bitcoins are more clean. Although we have to be realist: bitcoins will be quickly taking in hostage too, as long as corporatism prohibition exists. The objective value of bitcoins at the beginning was due to the illegal selling of drugs which reflects better the need than the legal big pharma economics. When bandits/mafia take power, illegal activity can be more representative of value than legal one.

Bruno





Op zaterdag 14 december 2013 17:40:25 UTC+1 schreef Roger Clough:
The bitcoin is an international speculative cyber-currency
(based on nothing) that has been inflating rapidly in price.
I would be wary of investing in it because it can drop in value
just as fast as it is rising. It's probably a bubble.


http://www.youtube.com/watch?v=OHVu626uOGE


Dr. Roger B Clough NIST (ret.) [1/1/2000]
See my Leibniz site at
http://independent.academia.edu/RogerClough



        
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