Post
Topic
Board Economics
Re: Why Bitcoin will collapse in price.
by
porc
on 09/12/2013, 15:35:07 UTC
You didnt explain why bitcoin is valuable! I explained to you why people want gold and dollar. You said bitcoin is rare and thus valuable. Well that is a description of its quantity not bitcoins value. If I say a deadly insect is rare do you think its valuable? Of course not.

Secondly, people would want dollar and gold because dollars and gold have importance to them as means for the achievement of their desired ends. That's what subjective value actually means...

Again abstract statements that pretend like bitcoin is in the same league as dollars and gold.

Gold is valuable because it is pretty and nice to look at. Thats why people want it.

Dollars are valuable because government forces people to accept them for payment of goods/debts.

Bitcoin is valuable because???

Say why you think Bitcoin has value!!