Why do millennials believe some calculations done on video gaming hardware qualifies as money?

Why do millennials believe some calculations done on video gaming hardware qualifies as money?

>Why do boomers think some calculations done on enterprise grade computer servers qualifies as money?

because it can't be duplicated, replicated, forged, or stolen (without user error). It has the same natural* value for humans as precious metals (i.e. none).

*"Natural" as in separate and removed from human's social interactions

If you can exchange it to other currencies then it's money.

Gold and precious metals have intrinsic value and will always be sought after (to some extent). Bitcoin however, is digital fiat currency and can crash to 0

why does anyone think that paper money that is endlessly printed when it needs to be by the powers that be is money?

It's OK if you don't understand it gramps

The only thing with any real value, by OP's logic, are things that you buy with money (goods). In many ways that is correct.

>falling for the bitcoin meme

The only difference between bitcoin and fiat currencies: Is that one prints money, and another prints it online.

In that scenario Gold is worthless compared to guns and food, so it's a moot point.

People still fall for this scam?

rrhhmmm

I think a better question is:

Why doe leafs make such garbage threads?

"Why do they consider it money?"

1 btc is currently worth something like $620. That is real worth in which I can transfer my btc to someone and receive that amount of money.

Your argument is invalid.

t. somebody who has never taken even basic chemistry or physics course before.

>calculations done on video gaming hardware
Decent bait, I predict 50-ish replies.

because it costs money to mine, basically

I fail to see the difference between digital fiat and paper fiat.

Mods delete all the threads that have potential so we're left with the uninteresting garbage.

the difference is that proper fiat can be used to pay taxes. That's the biggie. Buttcoins are based on a bubble; mining will not be worthwile, sooner or later (there's a maximum total number of bitcoins that will be approached asymptotically), then people will just stop using them.

>buttcoins

You gotta go back

Why do boomers think calculations done on pen and paper qualify as money?

Can I also trade this handful of air for physical money?
Air may not be a physical object, but I declare it valuable just because.

Why do boomers believe some paper done on money printers qualifies as money?

shilling in a shill thread

everyone knows it's because it can't actually be counterfeited and doesn't HAVE the room for governments to print shitloads of it or control it period.

It's independently generated value for free trade among the masses
unimpeded by the grubbler grabbersteins' grimy grip™ so they maed

Its literally a fucking pyramid scheme.

Gonna need you to elaborate on that one.

Are you talking about how it's initially distributed ("mining")?

I don't know if there's any other way they could have launched it that would have worked better.

Also, it helps if you just treat it as a means of exchange like I do instead of engaging in currency speculation (a very merchanty past time btw)

Most of the money created by central banks is electronic. The only difference between the dollar and bitcoin is that bitcoins are finite.

...

>Intrinsic value

Money has the value you think it has.

Like diamonds. They are worthless, but them someone said they where rare and now they are worth a lot.

What IS a bitcoin?

>Why do millennials believe some calculations done on video gaming hardware qualifies as money?

Because I have actually bought things with it. Take two seconds and google places you can spend bitcoin. [spoiler] I've only bought drugs. [/spoiler]

>I've only bought drugs.

>tfw there was no coinbase and I was too dumb, lazy, paranoid to figure out how to use silk road

I missed the golden age.

Because there is a limited quantity of them and it takes a workforce to find it.

>why has everyone believed metal in the ground is worth anything
>why did people collect beanie babies

alphabay is legit

there's like 20 silk roads now that are just as good.

NOT. AN. ARGUMENT.

good luck getting someone else to trade something of value for it. Bitcoin doesnt seem to have that problem

Modern Currency is Fiat currency. The only thing holding Bitcoin back from going full mainstream is its volatility. It has a greater intrinsic value than any other fiat due to its asymptotic supply, Speed of transfer, its ability to skip forex rates, its encryption, portability, divisibility and its impossible to duplicate. you will not find another reason outside of its volatility (which could be due to its relative immaturity) to declare it as a non currency.

Good luck finding anyone who will accept imaginary currencies for neckbeards as a payment method.

Bitcoin is just as liquid as any foreign currency or security depending on how many you've got for sale.

Because the island of Yap

Money is an abstraction a government uses to facilitate and control trade within a country.
The only problem with Bitcoin is since it isn't connected to any known government, it's also a statement:
1) Bitcoin is the currency of the Internet and Internet doesn't have any borders. You can say Bitcoin is the united world currency.
2) This world can't have any government.

because i make money off of it

Now by NWO coin now, ripple

I know someone who made a bundle of money with crypto currency by getting in on the dev group and doing a pump and dump ICO.