Post
Topic
Board Economics
Re: Why not just print dollars?
by
amaral1977
on 25/09/2017, 16:19:54 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.

Every currency as we know it today as no value backing it. The bank basement full of gold is gone long time a good. Currencies as we know are no more than Debt titles.
That we believe will have value to trade for something. Bitcoin is the same but the trust base is not the state or government but a decentralized algorithm...