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To: HenryArmitage
so it's the looking for them that gives them value... right?
14 posted on 03/23/2013 8:30:10 AM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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To: Chode

yes and no. In the sense that it should keep inflation under control, yes. No, in that gold is not valuable just because of the work that it takes to mine it. It is valuable because people are willing to take it. Same with bit coin. It’s value is determined by people being willing to take them, invest in them. Same as any currency, except this one isn’t backed by any country, has a limited supply, and anonymity.


15 posted on 03/23/2013 8:40:41 AM PDT by HenryArmitage (it was not meant that we should voyage far.)
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To: Chode; All
FYI..a man is selling his house..wants to be paid in Bitcoins.
16 posted on 03/23/2013 8:49:51 AM PDT by ken5050 ("One useless man is a shame, two are a law firm, three or more are a Congress".. John Adams)
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