17 ms·

Personally, I don't believe in Bitcoin either, but one thing I was considering is that Bitcoin is usable as long as its value isn't 0 (though it might be incred

Personally, I don't believe in Bitcoin either, but one thing I was considering is that Bitcoin is usable as long as its value isn't 0 (though it might be incredibly difficult to use with fluctuations). So the question is will it crash to 0? Seeing the price soar to 1,000 means that people in the future might always be willing to purchase it at some price, hoping that it will return to that level. Though, as it stands I don't think speculation gives it credibility. People who believe that are creating the positive reinforcement cycle so common in economic bubbles.

fat0wl 13y ago
this is the root of my belief as well -- that it is a speculative farce, but so long as it is above 0 it will continue to be in use. Another poster made me aware of this joke that I think summarizes Bitcoin pretty accurately. http://www.getamused.com/jokes/pennystock.html http://www.getamused.com/jokes/pennystock.html Only in this case it's not a single buyer.
- vectorpush 13y ago
  Only in this case it's not a single buyer. i.e. completely invalidating the comparison.
  - reginaldjcooper 13y ago
    That's not true, there could be multiple buyers and the punchline would just be, "to whom? there's only the three of you."
    - vectorpush 13y ago
      That punchline would make no sense. The client would reply "to the market of two buyers".
      - reginaldjcooper 13y ago
        that's right, I had a momentary lapse in judgement, sorry
        hatu 13y ago
        But a few days later the second person would sell and then we would be back at the punchline for the only remaining stock holder :)