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what happens to the BTC in their wallets that they didn't lose? Liquidated to pay creditors 1c in the dollar? with 63 million in debt, I imagine customers aren
by wintersFright 13y ago
what happens to the BTC in their wallets that they didn't lose? Liquidated to pay creditors 1c in the dollar?
with 63 million in debt, I imagine customers aren't first class debt holders either?
- broolstoryco 13y ago> 63 million in debt it is still not clear if it is 63 million + 750k BTC in debt, or in total. If in total it is not clear how btc are valued.
- Yuioup 13y agoZero. Bitcoins are worthless.
- ivanca 13y agoTIL: $565 are worthless (http://www.bitcoinexchangerate.org/ http://www.bitcoinexchangerate.org/)
- laichzeit0 13y agoYou forgot to add "just as Fiat money is worthless".
- gambiting 13y agoJust like everything, until we decide to give it value. Gold is completely and absolutely worthless to us humans, we don't need it to function and it serves no biological function in our organisms whatsoever. But because we like it and there is a scarcity of it, we will trade goods for it. Just like with bitcoins.
- michael_h 13y agoI get what you're saying, but gold is not 'completely and absolutely worthless'. It conducts electricity very well and does not corrode very easily. It is used on satellites to reflect electromagnetic radiation. It can be used as a glass coating to help prevent ice formation (airplanes). A gold isotope is used for cancer treatment. It can be used to tint glass red. It can be put into cinnamon schnapps...
- betterunix 13y agoWho trades goods for gold?
- gambiting 13y agoUnless you interpret what I said literally,and are going to point out that no one trades apples for gold rings, then the answer is - literally everyone who buys gold. You might pay with a fiat currency,but then you obtained it by either selling something that you produced or work that you carried out - so "goods".
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- VMG 13y agoPlease give me some then.
- Yuioup 13y agoOpen your wallet file with a text editor and type in some gibberish and pretend I gave you some. That's probably more worth than bitcoins.
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- josephagoss 13y agoMy experience suggests otherwise, in addition I know many people who have made money from them. I get what you're saying though, something along the lines of "if no government is behind it, it is inherently worthless". I disagree, many commodities hold value even though our governments do not assign that value, instead it's their inherent value that is worth something. To me and many others, a token that can be sent to anyone, be split into a million smaller parts, is not issued by the wills of a handful of men, that isn't forced on a population, is used of our own volition and limited in quantity deserves some inherent value.