I would be in the debt of anyone who could explain too me how a Bitcoin derives its value, other than some people think it has value. Near as I can tell the dollar is based on the same idea, it is worth what someone thinks it is worth or will in the future be worth, so why is Bitcoin any different from the current stupid system?
Would I want to purchase Bitcoin purely for its upside? Appears to me it is just another bubble created to fleece the slow learners among us. Be in your debt if you could tell me how a bunch of organized electrons with a name has some inherent value. Hell you can’t even run a canopener on a Bitcoin. No practical value that I can see be glad to be proven wrong, reminds me of Beanie Babies, or Cabbage Patch dolls. Help me to understand, please.
Treated like a Hot Potato(e), they seem to work as an electronic medium of exchange.
Here is a post from another thread. This is just one of a million advantages Bitcoin provides. If you don’t see value then you don’t see value.
“I still don’t get the attraction. It’s still far easier to swipe a credit card to make my purchases”.
I hope you didn’t swipe your card as millions of others have at Target stores and now their personal information is for sale on black markets all over the world. Banks don’t know or care about security, Why? Because they are covered against financial loss but your information is compromised and ends up God knows where.
This cannot happen with Bitcoin. Sound attractive?
What are your fees with bank credit cards?
What are merchant fees with bank credit cards?
Banks are sucking the life out of the economy all for the privilege of using your own money.
Nothing about any of this is attractive to me.
There was a $150,000.000 transfer over the Bitcoin network that is registered for anyone to see with virtually no fees ( pennies/shtoshi ) Do you have any idea what a bank would charge? Forget the hassle with arrangements and paperwork.
Fortunately the world is starting to get the attraction and I hope that you get and secure a small portion of your wealth as a hedge with Bitcoin.
With regard to not seeing value in a new technology I offer this:
A Northern Alliance Commander was sitting in his entrenched position for ten years across from the Taliban, when Special Ops arrived after America’s entrance into the war.
The Commander asked” What can you offer to help us in our war with the Taliban?” The Americans said they had a special light that will help. The Commander replied how can this little light help us? Impossible!
The American quietly asked the Commander to point out the Taliban position across the no mans land.
The Commander pointed and the American fixed the laser on the position and told the Commander to watch. A ten year hardened target was vaporized in seconds right before his eyes by a jdam.
The Commander looked at the American in amazement and said “ Laser Good”!
I hope you have your “ Bitcoin Good “ moment.