natty dread wrote:owenshooter wrote:natty dread wrote:it doesn't have any risk of going "bankrupt" any more than gold has a risk of going "bankrupt"...
this may be the most insane thing EVER posted on CC... i guarantee if you walk down the street and ask anyone in the world if they want a pound of gold or an equivalent amount of bitcoin, they will pick Gold by 100%...
Well, that depends on who you ask.. I'd much rather take the bitcoins, rather than lug a pound of gold around... that shit is heavy! A pound of gold weighs at least, like, a pound... there's at least a couple of exchangers in my city who buy/sell bitcoins, if we assume I'm going to head to one of those places to cash out my prize and spend it all instantly on cocaine and whores, then it doesn't really matter if I take bitcoin or gold to them... of course I'll rather take whichever is easier to carry.
i'm sorry... you can not compare bitcoin to gold... you just can't... that is an asinine statement...-el Jesus negro
Well actually, why not? There's no inherent value in either... we only give them value because of their rarity, because they're finite resources. In the case of gold, this is because it's a metal that isn't very abundant on our planet - thus causing a limited supply, or scarcity, which increases its value. In the case of bitcoin, the value is derived from its function as a transactional currency, and further guaranteed by its scarcity as a finite resource...
There isn't any currency on this planet which you could trust 100%... everything only has value as long as people want it. The way I see it, bitcoin isn't any different from any other currency, in this regard - it has value as long as people give it value.[/quote]
God is my trust.
I think is what you meant to say: there isn't any currency on this planet that you 'should' trust.
If you are part of this world you most likely have already put 100% of your trust in some form of currency.
For my girlfriend it is sex...she is able to get anything she desires using sex.
She sells it (but still has it), trades it (yet has it still), uses it like it is going out of style.
As far as the CC thing; How could it not last another five years. How long has the game of risk been around.
Five years is such a short period of time.
The question should be, how long will you be playing CC?
I sure hope I am not playing after the end of august 2014