Quote from: OROBTC on December 07, 2017, 07:46:16 PM

Quote from: Risk Mgmt on December 07, 2017, 07:09:48 PM

What is a Human body without a Soul - likely something artificial / impostor / fake

With USD$ as fiat as it may be....is represents United States of America and its Economy / its Government
Sames with all other paper Currencies...they represent something.

Metals even have some industrial value

What exactly does BITCOIN REPRESENT or WHO or WHAT?

I'm asking - because I still can't understand what or who BITCOIN represents. I only speculate that during this BITCOIN RUSH..and someone or some state is accumulating metals or other objects of real value to later use and back up BITCOIN....

Sorry for my crazy inquiry.

Not crazy at all. FWIW, here is my response, quite imperfect and simplified:

Every piece of Bitcoin "owned" represents that you have paid for a piece of (more accurately: it's on the decentralized ledger Blockchain) of ENERGY and WORK having been done -- solving a math problem. BTC is worth something because many, many people are OK with it as a somewhat Store of Value and Medium of Exchange (thus fulfilling to one degree or other TWO of the three most famous properties of "money" [the other being Unit of Account]), you can buy gold on the Internet with Bitcoin. I have done it several times.

All the cryptocurrencies more or less share the above characteristics.

I own BTC and precious metals (mostly gold, a fair amount of platinum and tiny amounts of silver & palladium). More $-value of what I hold is in the metals vs. BTC.

As BTC price has been rocketing upwards, I have been SELLING BTC and buying gold. When BTC is over 1.00% of my net, I sell some for gold.

Hi Thank you and being kind in handling my crazy inquiry.

This part below I need better understanding of as to why its valuable or what it represents...which enables one to than give to another to buy FOOD.

"Every piece of Bitcoin "owned" represents that you have paid for a piece of (more accurately: it's on the decentralized ledger Blockchain) of ENERGY and WORK having been done -- solving a math problem"