Post
Topic
Board Bitcoin Discussion
Re: Techreview : Bitcoins are not a currency with horders
by
jrtubs
on 23/08/2011, 23:01:55 UTC
Lol, yeah, things that no one wants to keep are super valuable.

That implies bitcoin currently has real value instead of speculativity driven value.

I just sent my friend in Dubai $50 worth of value. After clicking "send" I went to pee, and upon my return he had confirmed receipt of payment. Zero fees.

What's your point? The bitcoins you had were only worth 50 dollars because speculators and hoarders drove the price high, rather than because bitcoins have any practical use at the moment other than converting them back into USD or otherwise. It's like saying "well this dust I picked up off the side of the road is valued at 50 dollars a gram!!" but only if you could find someone who's actually willing to pay that for it.

But you couldn't send that 50$ a gram of sand across the world for no fees, and in the time it takes to take a piss