Quote from: yatogami on November 22, 2018, 04:11:47 PM

Quote from: Findingnemo on November 02, 2018, 02:23:30 PM

Just want to share the details about the people who ever thinks that why we need to use just paper as currency and we all are working hard to get those paper.People claiming that bitcoin is not virtual so it cannot be considered as money or they call it as scam or ponzi but they are using just papers for centuries and those paper currency were made out of thin air.

Those pieces of paper were once given some value by people who agreed that paper money should be an equivalent of some physical valuable objects like gold/silver/goods and services provided by the citizens of a country. The same social contract was once applied to cryptocurrencies. In this way, bitcoin is also an equivalent of financial services provided.
The difference from ponzi scheme is that a vast group of people benefits from using crypto, not only the leaders of a scheme.

Exactly, at the beginning those pieces of paper were a way to represent real value, they were backed by something, in most cases gold and silver, and you could exchange your paper money for a piece of gold in any bank but then the governments scammed all the world by stopping the ability of their citizens to convert their paper money to real money.