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Bitcoins are not stocks. Stocks represent claims on actual stuff. Bitcoins represent... nothing.
by wz1000 9y ago
Bitcoins are not stocks. Stocks represent claims on actual stuff. Bitcoins represent... nothing.
- 0xFFFF0000 9y agoBesides all the hype, etc. it at a minimum represents the amount of work/energy required to create a valid block to securely store data inside.
- 45h34jh53k4j 9y agoExcept the energy that has been burned in the last 9 years used to create them. The security comes from the need to spend as much energy to 'undo' them. Where do alts (esp non POW alts) get their value? Because people want to trade them to get more bitcoin, which has value as per above. You can keep repeating this circa 2014 argument 'not backed blah blah', but as yet it has not gone to 0, and likely never will.
- aussie1233 9y agoMinimum value would be the work/energy needwd to create blocks that enable safe storage and avoid double spending. So there is that.