Post
Topic
Board Bitcoin Discussion
Re: I'm fucking out. bitcoin will be over soon..confirmed.
by
jaberwock
on 25/01/2015, 14:19:50 UTC

Just because the price is going down? Many stocks go down then recover especially when they are stocks of a new high tech company. Bitcoin is still in business!
Bitcoin is supposed to be a currency not a stock.

It is not meant to be none, at least from the start:
Quote
As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose

and one special, magical property:
- can be transported over a communications channel

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

It might resemble a currency, but a currency is more than some stuff you can use to buy other stuff