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reply to post by ChuckNasty
BTC is worthless, let us keep it that way.
If anyone is willing to swap anything for bitcoin then it has value / worth. Its the very definition of worth.
On the other hand worth is not dependent on taxation.
Bitcoin are only 0's & 1's and therefore have no real value..
they exist in the twilight world of computer code, stored in
magnetic non volatile drives or some other device.
Without electric power Bitcoin cease to exist, if anyone thinks this will ever replace
hard currency, then they are living in fantasy land..
For now Bitcoin is being used only for speculative profit and nothing more.
It will fade into history..
Only 6% of all financial transactions worldwide are performed using real-world metal and paper currency.
Everything else is digital bits like Bitcoin. The main difference is that the financial institions record all transactions and can rollback them in the exact same order that they were made.
Yes .. I am well aware of that . but Bitcoin is not backed up by anything else...like gold, or oil,or even the Green back... Bitcoin has nothing of value was my point. it is born and lives as computer generated Hash algorithm.
so at it's most basic ... simply 0's and 1's in digital format..
Governments aren’t going to allow this to happen. Nor should they. While the libertarian streak in me makes me sympathetic to bitcoin’s objectives, the fact of the matter is that bitcoin, if it is allowed to continue and grow, will promote a massive global expansion of very bad stuff: from child pornography to hard drugs to terrorism to contract killings.