Quote from: adzino on August 06, 2021, 10:51:11 PM

Quote from: 15days on August 06, 2021, 06:23:33 PM

Isn't that basically what bitcoin is?

He can hardly buy anything with it. We just give it value for the sake of giving it value.

Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.

You are saying rocks have no value? Lol. Of course they have a value. Even a common rock has a value, but less than a cent because it can be found anywhere. So no. No one is going to buy your "Akorn" for $10. Why would they? They could literally pick a rock for almost free of cost (minus a little labor lol). But lets say, you found a piece of meteorite (meteorites are rock too Wink

) and you want to sell it for $10. Someone is going to buy it and then sell it for $100. The more demand for your meteorite, the higher the price will go. Meteorites are hard to find, hence expensive.
So if bitcoin was like picking up a rock, it would be dirt cheap. But guess what, they aren't dirt cheap. Now, why is that? You will know if you try to learn about bitcoin and how the system works.

Exactly, we need to find out what type of rock the OP is talking about, is it Igneous,
sedimentary or metamorphic? I would hate to spend $10 on a rock and to find out that
its the same as the rocks in my back garden.

Thing is I cant just pick up a random Bitcoin in my back garden...

Where has the OP been? It is really difficult to not find out about the basics of Bitcoin.
I dont pretend to know everything about Bitcoin even my web pages are basic in their
information but I do know what gives Bitcoin its value!

As mentioned above its the cost of mining a Bitcoin, its the power of the network,
its the security of Bitcoin, it has never been hacked, its the limited supply and there are
a thousand other reasons why Bitcoin is where it is.