Quote from: shmadz on December 10, 2013, 02:43:25 AM

Quote from: Erdogan on December 09, 2013, 12:12:31 PM

Quote from: bitbeg on December 08, 2013, 02:51:57 PM

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.

You deserve to have the value that you saved, in full, when you decide to consume. With bitcoin you will have more, for your knowledge and foresight. Or may be, in your case, you were just lucky. It happens.

Quote

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?

The money's value is the sum of the value that all participants wants in reserve for the immediate future and for the long run. It is not a resource that you can consume, it's value for direct use is zero. The value comes from what you can exchange it for. There is no finite amount of value in money.

dude, this is bang on. I bolded your stuff cuz this needs to be better understood.

Thanks man. I am fighting windmills.