Maine bitcoin
IN other words its value was determined by the first buyer and he didn't buy it for its resale value. This is not entirely true, because the number of people willing to pay for a Monet is quite small, whereas there are a lot of people that will give you hard USD currency for bitcoins. Also, the total number of bitcoins that will exist is a fixed number determined by the software, so they will never suffer inflationary loss some say this is a problem, because a deflationary currency will discourage spending and increase hoarding.
My own feeling is that bitcoin will eventually have its hegemony eaten away by other cryptocurrencies Etherium and Monera are two that are becoming more popular. But the point of all this still stands - that central banks are no longer the exclusive masters of the economic universe. Actually the people willing to pay for a Monet, Van Gogh or any other famous dead artist is quite large because it is a status symbol and why people who own them sell them only when they themselves are dead and have no need for status or to Museums so they can declare them as charitable gifts and deduct it from their taxes.
The dollar is backed by the wealth of the United States and by law made legal for the settlement for debts. Like the Monet, you can take it to the grocery store but you will not be able to exchange it for food because the store will not accept it. Not because is has value, but because it does not, in relation to what it is being traded for.
I don't think so. But, you are a smart fellow and though not a currency expert, you have to know something is amiss. If you are an honest person you will suspect a scam and unless you thought you could get away with repeating the scam you wouldn't take the chance.
Or would you, since you seem to have fallen for it already try to get others into the game while you opt out. It is exactly how Ponzi devised his scheme but he did it with real money. Just as the federal government, i. Well yes, to an extent. Contrast that to Venezuela, where no matter how horrible things are, the dictatorial government cannot be changed. Venezuela has no RTBA. In Germany after Kristalnacht, if every Jew in Germany had a Mauser, 10 rounds of ammunition and the will to use it; Adolph Hitler would have been a forgotten paper hanger from a small town in Austria.
Dictators die and other dictators take their place. The worst thing that can happen to a dictatorship is the introduction of democracy which can keep dictatorial characteristics under a guise of supposed fairness.
If it is so fair, why are so many people in the US on welfare and why are people fleeing other countries or fighting each other if they can't?
Skip to main content. Log in to post comments. Bitcoin good as gold. Truly a tyranny-free financial medium. The London International Bank. The value of any currency. Actually the people willing. Can you buy like food with it? Can I go get a pizza and pay with it going? It makes no sense. But I'll tell you this. I'm not going to sit on the sidelines and watch everybody get it. I'm getting in on Bitcoin. So what is Bitcoin? The difference is - there's no 3rd party to regulate the trading of bitcoins.
Rathere, there is a decentralized, complicated computer algorithm that monitors the trading of Bitcoins. DeGraff believes that eventually, different forms of currency will no longer exist, and the entire world will operate with cryptocurrency.
Bitcoin have become incredibly popular in recent months. DeGraff thinks it's become so popular because people like Bill Gates have bought in.