3 ms·
A literal comparison to paper bills isn't quite right. A small sheet of linen/cotton paper could represent $1, $100, or hundreds of millions of dollars (eg., a
by alister 9y ago
A literal comparison to paper bills isn't quite right. A small sheet of linen/cotton paper could represent $1, $100, or hundreds of millions of dollars (eg., a stock certificate of a million shares of Apple stock).
You have to compare Bitcoin to the concept of money, like U.S. dollars, but not literally the paper. A comparison to bars of gold is OK however since that is money and not a representation.
- SamBam 9y ago> A comparison to bars of gold is OK however since that is money and not a representation. Bars of gold certainly are a "representation" of money. They are only worth something so long as we all say they are. (Besides the little bit of intrinsic value from electrical wiring.) If people stopped saying gold was worth anything, it wouldn't be.