Quote from: DaftAjax on October 07, 2019, 02:15:35 PM

Quote from: Nhebu on July 13, 2019, 01:41:25 PM

Bitcoin becomes valuable because of its usage. It helps the economy also to have a fast and vast transaction. So, why do we need to hate this new innovative currency, if it can be a substitute and will be used for a long term purpose?

No, It does not help any economy at all, I'm pretty sure Bitcoin is an asset. It can not be a substitute(for now) but rather an alternative, I'm pretty sure you're using Fiat right now and still will for about 10 more years, even more.

Quote from: iMark on July 13, 2019, 03:29:06 PM

Yeah you should know from the start, that bitcoin is not backed up by anything, there is no government support, developed economies, or the state. it's a challange for bitcoin itself, and the proof is that bitcoin is a respected currency with its innovation, bitcoin is the world's most expensive currency right now!

Yes, there's no one backed it up, but there's someone who created it, naming Satoshi Nakamoto(forum username). I'm not sure about the middle part but yes, bitcoin is the most expensive currency (currently).

Quote from: imstillthebest on July 13, 2019, 05:09:14 PM

if btc is not backed by anything then why do you think that it existed and its value is growing ? that only means that btc is backed by its devs and its also backed us supporters and investors .

@op you dont like btc , but your making complaints about usd/fiat ? so what do you really want ? i already state that btc is backed by people same as fiat but btc is just better than fiats imo

It's not per se "backed up" by someone, but rather it is being monitored by us, users. So the direction of its price is influenced by our actions, directly as well as indirectly.

I am also with you in this regard. Nobody owns bitcoin, nobody backs it up. If it was under someones control, there wouldnt have been things like anonymity and freedom of control with the introduction of this asset. Though there are big whales but again they are investors and there actions lay greater impact on the market because there investment amounts are huge. Nothing about this coin can be controlled.