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https://www.youtube.com/watch?v=0UKC7iaBKvs#t=768s https://www.youtube.com/watch?v=0UKC7iaBKvs#t=768s A pretty brilliant scam if you ask me
by niggler 14y ago
https://www.youtube.com/watch?v=0UKC7iaBKvs#t=768s https://www.youtube.com/watch?v=0UKC7iaBKvs#t=768s
A pretty brilliant scam if you ask me
- imsofuture 14y agoThat's not a terribly good point though -- fiat currency also has no intrinsic value.
- niggler 14y agoThat's a misunderstanding of history. USD used to be backed by silver and all bills said "in silver payable to the bearer on demand". It was only relatively recently that the practice ended. https://upload.wikimedia.org/wikipedia/commons/7/70/US-%245-SC-1953-Fr.1655.jpg https://upload.wikimedia.org/wikipedia/commons/7/70/US-%245-...
- Karunamon 14y agoIt doesn't really invalidate his statement though. The USD is not backed by anything (whether it was in the past or not is irrelevant), and aside from the fact that it's commonly accepted, has no more intrinsic value than Bitcoin.
- prodigal_erik 14y agoAs long as 300 million people are required to convert a fraction of their income to USD for taxes, its value can't go to zero. Bitcoin's value is purely an article of faith so far.
- philliphaydon 14y agoI'm pretty much convinced its a scam after reading this: http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/ http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthles...