Post
Topic
Board Bitcoin Discussion
Re: The $1000 Bitcoin, yes it's worth at least that.
by
PeterSchiff
on 17/05/2011, 13:03:59 UTC

Because the current value of a BitCoin is an illusion, but not if we all buy into it...

Every currency value is an illusion until the people buy into it...what exactly is your point?

You just made it for me. But let me spell it out, if this scheme is gonna take off, change the world and create uber rich BitCoin pioneers, we "all" need to buy into it, right now only a few geeks have bought into it.

Currency backed by gold, not an illusion. Currency backed by oil, not an illusion. In the future, perhaps we can have currency backed by energy. Aka, energy options, and I don't mean backed by spent energy, like BitCoins.