Post
Topic
Board Economics
Re: Why not just print dollars?
by
RodeoX
on 03/08/2015, 17:34:20 UTC
Grin the good point of bitcoin ... is that you can print paper money if you want : https://www.bitaddress.org

and, it's real value !  Cheesy


You're right that bitcoin can't be printed when more is needed.

You're wrong that bitcoin has real value. The value is perceived because all of us place value upon it...just as we do fiat currency.

There is no tangible thing that supports the value of bitcoin, that can prove there is value to it.

There's no Gold, no Silver, no other tangible item that exists in the world...just the promise that only so much bitcoin can every be mined and that the validity of transactions and balances are verified by the community that uses it.
Follow the rabbit hole deeper and we see that gold and silver have no value beyond perception either. They are nice metals and have their own special properties, but no real value compared with an apple.