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I don't believe bitcoin has a floor value in the same sense as gold or silver. A currency doesn't need to have a floor value just because currencies traditional
by nawitus 13y ago
I don't believe bitcoin has a floor value in the same sense as gold or silver. A currency doesn't need to have a floor value just because currencies traditionally had. Besides, modern currencies are fiat money without a true "floor" value.
- johndevor 13y agoI'll rephrase my argument: given the vast demand for some people to do illicit transactions on the internet, an online currency (or more than one) will emerge to fill that need. So, given that, I think Bitcoin (or something like it) does realistically have a floor value, given its current front-runner stance. That may change, of course, if people choose a different currency, but that currency will be similar to Bitcoin in most, if not all, fundamental ways.