Post
Topic
Board Bitcoin Discussion
Re: Bitcoin...was created for?
by
yayayo
on 18/10/2014, 14:43:45 UTC
Lol so who is benefiting from it? obviously not the person that buys this "currency"
 1btc (made up money) = $383 (real money)

What makes you think that the Dollar isn't made up money? Educate yourself about the origins of money then you'll understand.

All money derives its value from the shared consensus among people that it has value - it's belief, nothing more.

The key difference between Bitcoin and fiat currencies like the Dollar is that the Dollar is subject to political influence, is backed by nothing, and can be inflated without restriction. Bitcoin is controlled by math and can't be inflated at will. Bitcoin is natural money that people decided to be valuable out of free will - the Dollar is forced on people by government (legal tender).

You can think of Bitcoin like it's digital gold. Gold is also not backed by anything, but people still have decided that it's valuable out of free will.

ya.ya.yo!