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originally posted by: SkeptiSchism
See I see the technology applying to something that you produce. Lets say you write an article and then that article is linked to several websites. Then each time someone reads your article or it's linked somewhere else you generate some income from the article.
That's the benefit I see in encrypted databases. But exchanging my limited wealth now for coins that have no real tie to the economy doesn't interest me.
originally posted by: neo96
a reply to: strongfp
He has an investment in Coca Cola... how is that not tangible?
Bershire Haythaway is a holding company.
Doesn't make anything.
Doesn't produce anything.
When he goes to buy his stakes he's borrowing money from BANKS.
People will have all these random forms of cryptocurrecny just floating around doing nothing.
People will have all these random forms of cryptocurrecny just floating around doing nothing. What will happen when the plumber comes to fix your toilet and demands money? Or the union of iron workers demand physical money? Guess no buildings will go up, and your bitcoin is worthless.
originally posted by: SkeptiSchism
a reply to: JinMI
Aye that's the rub.
www.zerohedge.com...
According to OneGram’s website, initially each OneGram coin (OGC) is backed by one gram of gold and can be used for digital payments, just like Bitcoin.
The total number of OGCs is fixed and won’t change after the ICO. The digital transaction fees (minus admin costs) will be reinvested to buy more gold.
“Therefore,” states the website, “the amount of gold backing each OGC will increase with time.” Plus, of course, a rising gold price and the growing acceptance of OneGram in the market are also poised to pump up its value.
originally posted by: NobodiesNormal
a reply to: seasonal
also the tulip bubble only burst because the king ruled tulip trading illegal, had he not done that the tulip market would have continued to thrive, eventually lowering in value but not bursting entirely, the only thing that stops a market entirely like the tulip craze, is something like a king ruling it illegal.
so tulip mania is a very poor example of a bubble unless you consider the act of kings to be equivalent to free market movements... seems the MSM doesn't mind such correlation... oddly...
Bitcoin fever hits US real estate market
www.france24.com...
From 6 Places where you can buy cars with Bitcoin
99bitcoins.com...
originally posted by: neo96
a reply to: worldstarcountry
The most likely candidate will be Ripple, which ironically is tied to the Central Bank system now, isnt it?
My largest holding by coin,but I'm not so sure.
Plenty of other contenders.
originally posted by: strongfp
originally posted by: neo96
a reply to: strongfp
He has an investment in Coca Cola... how is that not tangible?
Bershire Haythaway is a holding company.
Doesn't make anything.
Doesn't produce anything.
When he goes to buy his stakes he's borrowing money from BANKS.
The allow those company's to produce goods and make shareholder decisions. They still technically own a small portion of that company that produces goods.
Bitcoin isn't owned by anyone, it's just a random bunch of fake digital currency that people put actual money into and trade it around. Here's some food for thought, where is the capitalistic value of bitcoin in the real world? How does it create competition to better a society? All I see it does is take peoples actual money and hold it for what ever reason, it doesn't do anything, it just sits there accumulating the banks digital money tax free.