Someone give me a single reason buttcoins have any value in the real world, the way i see it, its something, someone forced into existence out of nowhere, and gave a fictional value.
A single reason please
>Why does gold, silver and paper money have value ?
The first 2 are used for construction and the last one is backed by the biggest governments in the world with armies.
OP the value of bitcoin is illegal transactions. That's all it's good for. Semi-anonymous way to buy/sell/receive payment for shit.
paper money has value because it's linked to gold reserves. gold has value because it is hard to get. bitcoin i guess because they need to be mined which involves work. but any currency is really valuable as a function of user demand.
>but any currency is really valuable as a function of user demand.
But realistically the value is what you can buy with it.
I cannot buy anything with gold - it is not very useful as a currency.
I cannot buy much except for drugs and contraband with bitcoin - it is not very useful as a currency
I can't buy my groceries, make any sort of real life payments with it.
And even if I could why would I use it over USD? Crazy fluctuations mean that the $50 I spent yesterday could be $35 tomorrow or $115. No consumer protection and pain in the ass to buy. It makes no sense.
Paper money has value because of taxes. People cant opt out of the monetary system because they have to pay taxes in US dollars. Not gold, silver, or bitcoins.
Not because of gold reserves.
Its the biggest financial and techno-philosophical innovation since the discovery that gold was shiny. And all you faggots can do is sit around and complain about it.
Youre like someone back in 1200ad complaining that no ones gonna want to put these newfangled magnetic compasses on ships when they can just look at the moon to see where they are.
the sole reason why money has any value is trust. People trust that they can buy bread with their $ so they use it. If nobody trusted money, it would have no value other than paper.
But buttcoins, I don't think that those have any trust when they have 10% swings, in either direction, every other day
great argument faggot, you sure showed me with those hot opinions of yours :^)
Is that all buttcoins fags have to offer?
bitcoins have value because some large e-commerce and illegal websites operate with it as a form of payment. With this, you have investors who believe that the form of payment will only grow to larger sites in the future, and it's such a demand that it props up the value of the coin.
With this happening, along with the constant shilling of it in media and tv, the demand of the coin rises. Anyone that disagrees with this is full of shit, because the price of bitcoin rose from $30 before CNN picked it up to around $1000 months later. Once one large media platform picks it up, the entire ecosystem picks it up as-well. People trade on news. Remember that.
>techno blah blah blah
You left out the fact that magnetic compasses have proven utility. Trusted because they have a proven and consistent value. Your fictional 'look mommy I'm rich' kiddie currency does not have widespread utility or consistent value. It has just as much a chance of going to $1,000 per tomorrow as it does going to $0. Only an idiot would buy into that.
It's only good for doing illegal stuff because it's very difficult for the government to track big bitcoins transactions.
Some years ago you could have bought bitcoins for speculations too. But now the bitcoins bubble is over. So currently only people who got stuck at a high buy price or people who want to do illegal transaction have bitcoins.