Ninjastic
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Board Economics
Re: Why not just print dollars?
by
Dimelord
on 14/05/2017, 08:17:04 UTC
Quote from: randy8777 on August 02, 2015, 09:29:57 AM
Quote from: Possum577 on August 02, 2015, 05:36:00 AM
Quote from: Meuh6879 on August 01, 2015, 11:50:12 PM
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.
bitcoin is opensource. which means anything can be changed. i don't think they will, but at some point the devs can decide to increase the coincap.
Bitcoin is trusted by people and they want to buy it more since its limit is only 21 million coins.The huge increasing demand and limited supply gives more value to bitcoins.If the coincap is increased,then bitcoin will not have the value which it has today.Unlike US dollars,limited supply is its main feature.