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I feel like this is E-gold 2.0 maybe 3.0 with BTC being 2.0 https://en.wikipedia.org/wiki/E-gold https://en.wikipedia.org/wiki/E-gold

• buboard 7y ago
  E-gold was a scam IIRC, while libra's assets : > the assets in the Libra Reserve will be held by a geographically distributed network of custodians with investment-grade credit rating to provide both security and decentralization of the assets. And BTC is not backed by anything, it has intrinsic value now so it's wrong to call it a scam.
  • benj111 7y ago
    What is the intrinsic value of btc? I can't eat it, use it to heat my house. It has value, most of it isn't intrinsic though.
    • buboard 7y ago
      u can convert it to USD, so it must have some value or else people wouldn't buy it
      • benj111 7y ago
        Yes it has value you can trade a bitcoin for $5k/$10k/$20k whatever the exchange rate is at this moment. That isn't intrinsic value though. From Wikipedia: "In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value." https://en.m.wikipedia.org/wiki/Intrinsic_value_(finance) https://en.m.wikipedia.org/wiki/Intrinsic_value_(finance)
        • buboard 7y ago
          alright my bad. i meant some value that is not tied to an underlying asset. But equating it with a scam like e-gold is not valid either. (and no currency or investment commodity has value that is anywhere near its intrinsic value)
    • teknopaul 7y ago
      You can move it illegaly more easily than cash.
    • Wowfunhappy 7y ago
      Can you do any of those things with gold?