Forum Discussion
BirdDog
8 years agoAssistant Professor
Bitcoin....come on.....really
Isn't it like Monopoly money? Basically only worth what someone is willing to value it at. So, I want to sell an iPad at 1000 bitcoins and some idiot is willing to pay that amount then a sale is ...
MarkJFine
8 years agoProfessor
As far as I know it's backed by itself, which is kind of like the Fed expanding and contracting the money supply based on promises, but worldwide. As you said, zero intrinsic value, driven by artificial demand.
Bottm line: It's a sham that is getting a lot of press. Wouldn't go near it. A lot of fools are going to get taken by it.
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