3 ms·
I don't even understand the comparison. They were buying (not selling) Bitcoins directly from sellers. Western Union is specifically engaged in the business o
by downandout 13y ago
I don't even understand the comparison. They were buying (not selling) Bitcoins directly from sellers. Western Union is specifically engaged in the business of enabling people to send money to others.
- TylerE 13y agoThey were taking money from customers, in exchange for which the customer received some sort of token of value, which could be used as a medium for exchange or reconverted to USD later.
- downandout 13y agoIt's not a token or store of value. Bitcoins only have value to the extent that others will buy them. There is not a person on the planet that has a contractual obligation to exchange or buy Bitcoins for anything.
- TylerE 13y agoBullshit. Things with easily accessible, live-updated exchange rates have value. We're not talking about baseball cards here.
- downandout 13y agoWe're not talking about baseball cards here. You're right, we are literally talking about the buying and selling of random numbers. However, once again, Bitcoins have zero inherent value. There is no person or organization that has any obligation to buy or otherwise exchange them. They only have value to the extent that others will buy them.
- TylerE 13y agoI'm just going to invoke No True Scotsman at this point.