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Gossip & Opinions / Re: Silver is exploding
« Last post by MAXX on Today at 04:47:18 PM »I think it is impractical as trading gold or silver or even stocks. Do you think bitcoins pricing, which is dollar based, is stable? With such a limited number how can you determine a fair trade for a pizza or a new roof? Or are people going to develop a new currency based on bitcoin and then when it all ends up in the hands of an elite few will we need a new currency system?Yes based on the scarcity, and inability for manipulation. And being algoritm based. Meaning it can't be manipulated/inflated in the way governmental controlled/bank controlled fiat.
Whats bitcoins value based on? It’s “scarcity?
On paper the idea sounds good but it will be corrupted like anything else.
bitcoin has just as big/less chance at getting in the hands of the wealthy and powerful as any other currency. No more no less. It is just a means for trade and value storage.
only threat to bitcoin is governmental ban of using it otherwise it would probably grow to be world currency and replace us dollar.

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