Post
Topic
Board Speculation
Re: If Bitcoin became the sole reserve currency...
by
bitbeg
on 08/12/2013, 14:51:57 UTC
Quote from: Erdogan
A prosperous societey means individual rights, private property AND the general understanding that being rich, not by being friend of the government types, but by the merit of making useful products or services for the consumer, is respectable and deserved.

But you can't have it both ways. There is nothing I did that made me potentially deserve anything when I bought a bitcoin. I simply exchanged one method of storing value for another. Sure, bitcoin has some usefulness as a tool for barter, but why would we attribute a value to it, when bitcoins being traded for bitcoins is pointless. If there is only a finite amount of value just as there is a finite amount of resources and people, then where is that value coming from?