Re: People's Bank of China Says Bitcoin Cannot Circulate as Currency in the Market
I know it's debatable, but I think bitcoin does have intrinsic value based on it's utility and privacy.
It doesn't create income, so it doesn't have intrinsic value. It can be a good store of arbitrary market value though, due to its utility.
A stock is a promise to pay back with interest on a capitol investment.
Erm... no. That is a bond.
A stock is a fractional ownership in an enterprise, which is, if you chose the stock well, a productive entity in the real economy with employees, market and assets.
A promise made by one entity that may fail. Bitcoin has the backing of all it's users and is less likely to fail, because there is no central failure point.
In theory... But have you seen stampeding cattle? And stampeding humans?
