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Originally Posted by Fubarski
Originally Posted by Old_Toot
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 “.


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Another market that could be cornered..


-OMotS



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Quote: ( unnamed) "been prtty deep in the cooler todaay "
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Originally Posted by Old_Toot
Originally Posted by Fubarski
Originally Posted by Old_Toot
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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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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Correct


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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Originally Posted by Stickfight
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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Originally Posted by xarcher
Originally Posted by Stickfight
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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But why are folks willing to pay for it?

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Originally Posted by xxclaro
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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Originally Posted by Fubarski
Originally Posted by Old_Toot
Originally Posted by Fubarski
Originally Posted by Old_Toot
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.

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Originally Posted by The_Real_Hawkeye
Originally Posted by xarcher
Originally Posted by Stickfight
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.


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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.


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Originally Posted by renegade50
My ignoree,s will never be Rock Stars on 24 hr campfire.....Like me!!!!

What are psychotic puppet hunters?
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Originally Posted by The_Real_Hawkeye
Originally Posted by xxclaro
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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Originally Posted by Old_Toot

Heh.

Well,,,,duhhh.

So we agree that it has no underlying value.

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Originally Posted by akasparky
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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Originally Posted by The_Real_Hawkeye
Originally Posted by Old_Toot

Heh.

Well,,,,duhhh.

So we agree that it has no underlying value.


We don’t.


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Originally Posted by Old_Toot
Originally Posted by The_Real_Hawkeye
Originally Posted by Old_Toot

Heh.

Well,,,,duhhh.

So we agree that it has no underlying value.


We don’t.
Now you're contradicting yourself.

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Originally Posted by The_Real_Hawkeye
Originally Posted by akasparky
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

Originally Posted by renegade50
My ignoree,s will never be Rock Stars on 24 hr campfire.....Like me!!!!

What are psychotic puppet hunters?
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Originally Posted by akasparky
Originally Posted by The_Real_Hawkeye
Originally Posted by akasparky
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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Originally Posted by The_Real_Hawkeye
Originally Posted by Old_Toot
Originally Posted by The_Real_Hawkeye
Originally Posted by Old_Toot

Heh.

Well,,,,duhhh.

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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