Cryptocurrency worthless

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The bitcoin, a virtual medium of exchange, could be a real alternative to government-issued money—but only if it survives hoarding by speculators.There may be cases where the population of a country do not accept the official currency of that country as payment.If through something strange, Bitcoin actually happened to become important, then its current price is very low compared to what it should be.

That a Bitcoin wallet is a swiss bank account they can carry around and control themselves.The quintessential recent case is Japan after its real-estate bubble burst in the 1990s.Because that value can and will be radically different to different people at different times.For me, and all people I know, Bitcoin is a classic example for a fiat currency.Once folks stop buying into the bottom of the pyramid, hoping to get rich, and the jig is up - they are worthless.

There are very few problems which meet the technical requirements to use in the mining process, and mining is actually an essential part of how the technology works at a technological level.Nevertheless in my culture fiat means: non backed, nothing more. Unlike e.g. a gold backed currecny.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the.The only reason the countries accept it as tax payment is because they can control its value.

This one is explicitly refuting the idea that value and price have a disconnect at all.CCBMLM will take real cash for these otherwise worthless coins until it reaches a.I was saying that bubbles happen when the price becomes completely detached from any kind of realistic valuation.Well, it looks like the Wild West in Crypto-currency Land just got a lot more Wild.So please tell me which this is: trolling, or just a failure to understand.

Individuals decide how much value things have for themselves.INTRODUCTION TO CRYPTO CURRENCY Crypto currency is like stocks.Successful currencies are used to transact day-to-day business and lubricate commerce.That probably requires the bubble to burst, as it may be doing right now.You can instead claim that the problem is that the market is being manipulated, and that might be the case with Bitcoin, for instance.This kind of hoarding is made more likely by the way Bitcoin is set up.

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But of course they (and Bitcoin) ARE commodities in every economic sense of the term: they are tangible goods (in a rough sense.Primecoin uses Fermat Test which runs the risk of accepting so called Carmichael numbers.In May, Rick Falkvinge, founder of the Swedish Pirate Party, which focuses on patent and copyright reform, posted that he had decided to put all his savings into Bitcoin.Yes everybody has the authority to create whatever kind of new money they want.Bitcoin has evolved from an almost-worthless curiosity to a widely accepted.

For most stocks, on most days, the price is a more-or-less reasonable approximation of the present value of the share, from which you can expect a reasonable return of a few percent per year, either from dividends or increased capital.Does the government of a country really control the value of its currency.

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But the flip side is that if the demand for bitcoins rises, for whatever reason, then the value of bitcoins will necessarily rise as well.

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