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To: SeeSharp
I said many posts ago that only examples of your definition of "defined" are done by thugs, and sure enough, you suggest Cuba.

Since you seem to need everything spelled out: gold is denominated in bitcoin (contrary to your assertion) just as gold is denominated in dollars. The price is set by the market and fluctuates. There were times before 1933 when there was a de facto defined (your definition) rate for gold and 1968 for silver, but there has not been any since.

Since that is how all currencies currently work, except for a few thug currencies, then that makes bitcoin equal to gold or any other store of value since the value is defined in the same way as gold.

66 posted on 03/11/2014 9:32:33 AM PDT by palmer (There's someone in my lead but it's not me)
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To: palmer

LOL. So, unable to back up your assertions with even a single example, you now resort to redefining words. Denominated means defined in terms of. Bitcoin is not defined in terms of anything.


68 posted on 03/11/2014 9:52:19 AM PDT by SeeSharp
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