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That's his point exactly. Critics on one hand claim that bitcoin will always gain value and on the other say that you will suffer loses/not have anything of val
by dfox 15y ago
That's his point exactly. Critics on one hand claim that bitcoin will always gain value and on the other say that you will suffer loses/not have anything of value when it loses value. These two arguments seem to be incompatible with each other.
- icebraining 15y agoIt's a linear argument: it won't succeed (in part) because it's designed to be deflationary, so it will fail, so it'll lose its current value. (Note: it's not my argument, I'm just trying to explain why they aren't necessarily incompatible)
- csomar 15y agoIf it fails it's because it has no value. If criminals need it to transfer funds (and they have quite a business), then it might make BitCoin valuable. It doesn't matter if there is a limited amount of BitCoins if the end point is to exchange them.
- icebraining 15y ago(Market) value is set by how much people are willing to pay for it, so they do have value.