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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Tulips don’t have ATMs nor do they have major banks and car companies accepting them as payment. A third party sucker doesn't validate a valueless item. It does to those who transact with it as a store of value, It does to those who go to the ATMs and withdraw 25k$ at a time, It does when BNY Mellon accepts it as does Goldman Sachs. It does when GM presently has it under consideration as payment for their products. There’s more as it relates to validation of a “ valueless item “.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Dec 2019
Posts: 17,404 Likes: 29
Campfire Ranger
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Campfire Ranger
Joined: Dec 2019
Posts: 17,404 Likes: 29 |
Another market that could be cornered..
-OMotS
"If memory serves fails me..." Quote: ( unnamed) "been prtty deep in the cooler todaay " Television and radio are most effective when people question little and think even less.
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Joined: Oct 2009
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Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2009
Posts: 12,609 Likes: 9 |
Tulips don’t have ATMs nor do they have major banks and car companies accepting them as payment. A third party sucker doesn't validate a valueless item. It does to those who transact with it as a store of value, It does to those who go to the ATMs and withdraw 25k$ at a time, It does when BNY Mellon accepts it as does Goldman Sachs. It does when GM presently has it under consideration as payment for their products. There’s more as it relates to validation of a “ valueless item “. Not at all. Bits are accepted now *only* as a means to another transaction. A car stealership may take em, but only when they have a buyer waitin, at a higher bit price, just like banks are doin. Bit's only value at this time, is that there's even bigger suckers, than you.
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Joined: Oct 2010
Posts: 7,806 Likes: 13
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,806 Likes: 13 |
Not s single post that comes close to defining value, as usual. You're all better off avoiding the question.
Commercially useful gold is overwhelmingly used as decoration, not for any industrial purpose. That doesn't mean it lacks value.
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Joined: Feb 2010
Posts: 3,676
Campfire Tracker
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Campfire Tracker
Joined: Feb 2010
Posts: 3,676 |
BE STRONG IN THE LORD, AND IN HIS MIGHTY POWER. ~ Ephesians 6:10
Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. --Winston Churchill
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Joined: Nov 2015
Posts: 523
Campfire Regular
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Campfire Regular
Joined: Nov 2015
Posts: 523 |
Not s single post that comes close to defining value, as usual. You're all better off avoiding the question.
Commercially useful gold is overwhelmingly used as decoration, not for any industrial purpose. That doesn't mean it lacks value. Value=monetary worth. Gold, my house, my truck, Bitcoin all by definition have value.
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
Not s single post that comes close to defining value, as usual. You're all better off avoiding the question.
Commercially useful gold is overwhelmingly used as decoration, not for any industrial purpose. That doesn't mean it lacks value. Value=monetary worth. Gold, my house, my truck, Bitcoin all by definition have value. Gold, your house, your truck, all have both a price and real underlying value (on which its price is mainly based). Bitcoin has a price, but no real underlying value supporting it. For this reason, therefore, Bitcoin is more akin to a fiat currency than it is to gold, your house, or your truck. Bitcoin's price is X because that's what folks are willing to pay for it at the moment, and that's the only reason.
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Joined: Oct 2003
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Campfire Tracker
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Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
But why are folks willing to pay for it?
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
But why are folks willing to pay for it? Same reason as Beanie Babies. Because they expect its prince to go up.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Tulips don’t have ATMs nor do they have major banks and car companies accepting them as payment. A third party sucker doesn't validate a valueless item. It does to those who transact with it as a store of value, It does to those who go to the ATMs and withdraw 25k$ at a time, It does when BNY Mellon accepts it as does Goldman Sachs. It does when GM presently has it under consideration as payment for their products. There’s more as it relates to validation of a “ valueless item “. Not at all. Bits are accepted now *only* as a means to another transaction. A car stealership may take em, but only when they have a buyer waitin, at a higher bit price, just like banks are doin. Bit's only value at this time, is that there's even bigger suckers, than you. Yeah. The Institutions that I mentioned are well known suckers and fools. You’ll see a question regarding e-currencies on your federal tax form this year. The government probably thinks it’s phony stuff, too.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Not s single post that comes close to defining value, as usual. You're all better off avoiding the question.
Commercially useful gold is overwhelmingly used as decoration, not for any industrial purpose. That doesn't mean it lacks value. Value=monetary worth. Gold, my house, my truck, Bitcoin all by definition have value. Gold, your house, your truck, all have both a price and real underlying value (on which its price is mainly based). Bitcoin has a price, but no real underlying value supporting it. For this reason, therefore, Bitcoin is more akin to a fiat currency than it is to gold, your house, or your truck. Bitcoin's price is X because that's what folks are willing to pay for it at the moment, and that's the only reason. Heh. Well,,,,duhhh.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Dec 2005
Posts: 3,019 Likes: 3
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 3,019 Likes: 3 |
Of course gold has a different value, just like diamonds, it's a glittering shining rock. We humans like things that are pretty.
BTC, not so much, if it were just more pretty.
Padded VA Hospital Rooms for $1000 Alex My ignoree,s will never be Rock Stars on 24 hr campfire.....Like me!!!! What are psychotic puppet hunters?
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Joined: Oct 2003
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Campfire Tracker
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Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
But why are folks willing to pay for it? Same reason as Beanie Babies. Because they expect its prince to go up. Ok.
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
So we agree that it has no underlying value.
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
Of course gold has a different value, just like diamonds, it's a glittering shining rock. We humans like things that are pretty.
BTC, not so much, if it were just more pretty. The looks of gold are only a small part of its value. It's an element (element 79, symbol Au), one of only a small handful of them that possess all sorts of important properties valued by civilization, properties that other elements do not possess, and it's extremely rare, at least anywhere near the earth's surface (the core of the planet is likely pure gold, but you cannot reach it).
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
So we agree that it has no underlying value. We don’t.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
So we agree that it has no underlying value. We don’t. Now you're contradicting yourself.
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Joined: Dec 2005
Posts: 3,019 Likes: 3
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 3,019 Likes: 3 |
Of course gold has a different value, just like diamonds, it's a glittering shining rock. We humans like things that are pretty.
BTC, not so much, if it were just more pretty. The looks of gold are only a small part of its value. It's an element (element 79, symbol Au, one of only a small handful of them) that possess all sort of important properties valued by civilization, properties that other elements do not possess, and it's extremely rare, at least anywhere near the earth's surface (the core of the planet is likely pure gold, but you cannot reach it). I guess the idea is bred into us. My mom alway kept the cookie jar on the highest shelf in the kitchen. I couldn't reach it either.
Padded VA Hospital Rooms for $1000 Alex My ignoree,s will never be Rock Stars on 24 hr campfire.....Like me!!!! What are psychotic puppet hunters?
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Joined: Jun 2002
Posts: 131,916 Likes: 51
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,916 Likes: 51 |
Of course gold has a different value, just like diamonds, it's a glittering shining rock. We humans like things that are pretty.
BTC, not so much, if it were just more pretty. The looks of gold are only a small part of its value. It's an element (element 79, symbol Au, one of only a small handful of them) that possess all sort of important properties valued by civilization, properties that other elements do not possess, and it's extremely rare, at least anywhere near the earth's surface (the core of the planet is likely pure gold, but you cannot reach it). I guess the idea is bred into us. My mom alway kept the cookie jar on the highest shelf in the kitchen. I couldn't reach it either. And cookies taste good, and contain nutrients useful to the body, and are found in a useful form. So they possess properties that are valued innately by people, and are rare (at least in your household growing up).
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
So we agree that it has no underlying value. We don’t. Now you're contradicting yourself. The world according to Hawk.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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