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TampaAnimusVortex

(785 posts)

10. The value in bitcoin is it's usefulness as a payment network...

Thu Dec 5, 2013, 10:11 AM

Dec 2013

Much like golds value is in its ability to be made into jewelry or other things.

Anyone that tells you it doesn’t have intrinsic value just has no idea what they are talking about.

See this article

"Last month, the Senate Committee on Homeland Security and Governmental Affairs held the first congressional hearing on the future of Bitcoin. The panel featured senior members of the Obama administration, all of whom had nothing but praise for Bitcoin. They expressed concern about it being used for cyber crime. But also stressed that it had legitimate uses and that regulators needed to be careful not to stifle virtual currencies. No one was asking for new regulatory powers to crack down on illicit uses of Bitcoin, Timothy Lee of WaPo reported on Nov. 18.

Government loves it. Investors love it. Criminals love it. The Chinese love it! This beast is going to 10k!"

http://www.forbes.com/sites/kenrapoza/2013/12/04/the-bitcoin-bubble/

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Highlight:

A Thief Is Attempting To Hide $100 Million In Stolen Bitcoins � And You Can Watch It Live Right Now [View all] phantom power Dec 2013 OP

So many suckers. SMH... tridim Dec 2013 #1

If we're going to extend legal protections to bitcoins customerserviceguy Dec 2013 #2

Bitcoin is here to stay... TampaAnimusVortex Dec 2013 #3

Hah, feel free to invest your retirement savings in Bitcoins then nt geek tragedy Dec 2013 #4

Actually I'm already ahead of the game... TampaAnimusVortex Dec 2013 #9

No it's not MattBaggins Dec 2013 #7

Too bad the senate loves it too then... TampaAnimusVortex Dec 2013 #8

one point I like to make: although the tech was designed to support decentralized currency... phantom power Dec 2013 #14

They're great for buying a snack when Red Warrior Needs Food Badly Orrex Dec 2013 #11

So what's supposedly so great about bitcoins again? Blue_Tires Dec 2013 #5

They have bitcoin banks that set the "value" tridim Dec 2013 #6

The value in bitcoin is it's usefulness as a payment network... TampaAnimusVortex Dec 2013 #10

One of the social-experiment aspects of bitcoins that interests me... phantom power Dec 2013 #12

Many people use "Ponzi Scheme" to describe ...... oldhippie Dec 2013 #13

So what recourse is there when people get robbed like this? Blue_Tires Dec 2013 #15

What recourse is there when someone takes your cash? TampaAnimusVortex Dec 2013 #16

I haven't suggested doing away with *anything* Blue_Tires Dec 2013 #17