RE: The Reason that BITCOIN Has Value is Because... + get 100SP delegated to you by commenting~ by replaycoding

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bitcoin · @replaycoding · Feb 22 '18

Technically, no currency has any value except what we assign to it. Cryptocurrencies are the same, many people invest in bitcoin. This can change the value of any currency. So, you are right, and wrong. At the same time

👍 replaycoding

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@bagzinga · Feb 22 '18

$0.14

I want what you're smoking plz

👍 onealfa, mrmomentum, dxcrown, xuancar

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@lanmower · Feb 23 '18

why do you say that @bazinga? bitcoin never became valuable untill people trusted it and imagined it to be valuable, and today, its only calculated value is what people decided to sell it for during that day.

Perhaps you've missed out on how the values of all currencies are calculated but @replaycoding has a valid point, the value of any currency is just determined  by what it trades for, there is no other magical measurement or system that determines its value.

👍 replaycoding, excy4yaweh

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@bagzinga · Feb 23 '18

I was more amused by the phraseology than his point.

But I'm not willing to pick a fight over his point. It's valid indeed.

Hell, maybe I am willing to debate. "What it trades for" is another way of saying popular opinion of value. Popular opinion can be extremely manipulated.

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@xsillent · Feb 23 '18

"Power lies where men believe it resides. It's a trick, a shadow on the wall." - Varys 

Currency only works with a network effect, especially if the thing being exchanged has no intrinsic value outside of being a currency. Given that fiat has no intrinsic value, it just satisfies certain properties of money and is used as such.

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@dxcrown · Feb 23 '18

Technically Power shifts from time to time . where is it moving to ? Crypto currency is a thing of the future . with the way inventions/creations keep springing up am sure the ULTIMATE COIN will soon be create if it hasn't already .

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