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It's possible that bitcoins have value because they're more useful as a form of money than precious metals like gold or fiat currencies like dollars. They're d
by applecore 13y ago
It's possible that bitcoins have value because they're more useful as a form of money than precious metals like gold or fiat currencies like dollars.
They're durable, portable, perfectly fungible and divisible, scarce and limited, easily recognizable, trivial to verify, impossible to counterfeit, and cheaper to store, protect, and transfer.
- oleganza 13y agoI'm not saying why they have value. There are many reasons and everyone picks his own favorite one. I'm saying that if bitcoins are valuable, then there are certain interesting properties of the new global economy that make it different from gold/oil/resource-based economy we have today.
- mariusz79 13y agoDurable? When you lose your passphrase or wallet hash all the bitcoins in it are lost.. forever.. With gold there is hope that at some point in time someone will find it and be able to use it.
- applecore 13y agoDurability, in the context of money, simply means that it doesn't physically degrade over time. In that sense, bitcoins are perfectly durable.