Topic: [2018-0-03] Bitcoin is worth nothing and Backed by Nothing. Really? (Read 425 times)
January 14, 2019, 04:44:30 AM
Yes it's true. But if you talk like that, then the money we all use in everyday life (we pay in the store, order pizza and so on) is also worthless. Therefore, I will say this: if Bitcoin is used for some purpose (for example, to buy a car), then everything is fine, Bitcoin has a price in this case. If Bitcoin is not used to acquire any benefits in life, then yes, Bitcoin in this case doesn't cost anything.
January 11, 2019, 08:30:25 AM
If I ready to buy Bitcoin for $0.1 then it can't be worthless 
I'm buying Bitcoin at current levels, and there are more smart minds doing the same, so it's even less worthless right now. Everything has value as long as we believe it does--are willing to pay up for it--accept it as means of exchange. Bitcoin checks all boxes and the amount of people thinking the same keeps growing.
No coiners will always find a way to trash Bitcoin, and I don't expect it to change, not even when Bitcoin becomes super mainstream. There are still skeptics talking about gold like how people talk about Bitcoin.
Bitcoiners in the same way trash altcoins. It all comes down to whether or not it's valuable to the person directly. In case it isn't, it by default is painted off as useless, scam, and so forth....
it is worth exactly the amount it is traded for at the moment
if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand
Doubt that we will reach zero value so lets not add impossible here..but you’re right that supply and demand is what backing this cryptocurrency if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand
January 07, 2019, 06:57:34 PM
If I ready to buy Bitcoin for $0.1 then it can't be worthless
A definite pump would start to come out and you know what's going to be their next words? "Bitcoin is a pump and dump scheme". Considering the amount of people that's willing to buy it higher than $1,000 then everyone will rush to purchase it if it goes to $2,500 - $0.01The market is strong and fair enough to say that bitcoin is backed by the people and businesses. Fiat is backed of by the government so it has value and the government controls the people. While us, we as citizens are backing up bitcoin directly without the government's consent.
January 07, 2019, 03:32:04 PM
it is worth exactly the amount it is traded for at the moment
if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand
if it is worth nothing, there will be a continuous sell pressure until the price reaches zero
since I don't see a que of people selling it cheap, I assume it has some value , hasn't it?
bitcoin is backed by supply /demand
January 07, 2019, 10:57:33 AM
If Bitcoin is worth nothing then we arent seeing $3000+ price as of this moment.
Bitcoin will never reach 1 USD first if it does. If there's no single person/company/business use bitcoin as a means of something then it can't be backed by nothing.
January 07, 2019, 09:34:17 AM
The only reason I still use it is because it offers buyers protection which might come handy in certain situations, and the fees for G&S payments are passed to the receiver of the funds, which favors me as buyer even more.
Based on their buyers protection, which more often than not negatively affects sellers, people will keep using it because it gives them the security they need to not be ripped off on eBay or other marketplaces.
Based on their buyers protection, which more often than not negatively affects sellers, people will keep using it because it gives them the security they need to not be ripped off on eBay or other marketplaces.
I'm sure that there will be a time where even Bitcoin payments will have that level of consumer protection. If there is money to be made, financial services will hop in to claim their cut of the pie, that's always how it works. It will be a service that comes with a steep fee I would assume, but hey, if people want to tap into these features to obtain more certainty when it comes to online purchases, they will go for it.
On top of that, buyers with PayPal not paying any fees isn't really the case here. The fees that people assume to not be paying are calculated in the price of what they buy already, which also applies to payments through credit card and whatnot. This gives people even more incentive to use Bitcoin if stores refund them ~2% due to the fees they save by accepting Bitcoin. Good times are ahead.
January 07, 2019, 01:23:02 AM
I don't understand these types of statements considering I purchase goods almost weekly from different websites.
To take it even one stop further, I regularly buy Bitcoin and other crypto from bank-backed exchanges.
So to say that Bitcoin is worth nothing and backed by nothing is a far fetched statement!
To take it even one stop further, I regularly buy Bitcoin and other crypto from bank-backed exchanges.
So to say that Bitcoin is worth nothing and backed by nothing is a far fetched statement!
January 06, 2019, 06:42:25 PM
I wanted to pay someone $100 through PayPal recently and couldn't complete the transfer because my balance wasn't enough due to the $7 fee it wanted to charge me. I had to top up my balance to complete the transaction because the other side didn't wan't to deal with anything other than PayPal.
PayPal has gotten worse last year when they changed their fee structure from a fixed 1% F&F payment option to one that's more dynamic--more expensive. Fees depend per region, but it has gone up to 4% for me.The only reason I still use it is because it offers buyers protection which might come handy in certain situations, and the fees for G&S payments are passed to the receiver of the funds, which favors me as buyer even more.
Based on their buyers protection, which more often than not negatively affects sellers, people will keep using it because it gives them the security they need to not be ripped off on eBay or other marketplaces.
January 05, 2019, 01:32:07 AM
All this campaign calumny against bitcoin as being worthless and being backed by nothing is making bitcoin more popular I see no reason why a digital currency with huge recapitalization value worth billions of dollar with huge volume traded daily becoming an object of ridicule, tarnishing of image of bitcoin had not worked so far and efforts in undermining its importance by warren buffets and other top business tycoons had proved abortive.
January 04, 2019, 06:24:35 PM
I use Bitcoin almost on a daily basis, and I noticed around me that some people actually prefer to be paid in Bitcoin rather than PayPal or whatever else.
I wanted to pay someone $100 through PayPal recently and couldn't complete the transfer because my balance wasn't enough due to the $7 fee it wanted to charge me. I had to top up my balance to complete the transaction because the other side didn't wan't to deal with anything other than PayPal.
This is something where Bitcoin shines, and I am certain that it will attract more and more users as PayPal & Co don't think it's necessary to lower their fees.
I wanted to pay someone $100 through PayPal recently and couldn't complete the transfer because my balance wasn't enough due to the $7 fee it wanted to charge me. I had to top up my balance to complete the transaction because the other side didn't wan't to deal with anything other than PayPal.
This is something where Bitcoin shines, and I am certain that it will attract more and more users as PayPal & Co don't think it's necessary to lower their fees.
It's even worse if you are transferring money to someone who uses a different currency. They take fees and exchange rates into account and there are additional fees for them exchanging the money at their rates. As a result if you send 1000 dollars to someone who uses euro you can expect to lose at least $50. At the same time a Bitcoin transaction will cost you less than $10 if you include exchange fees.
January 04, 2019, 05:53:15 PM
I use Bitcoin almost on a daily basis, and I noticed around me that some people actually prefer to be paid in Bitcoin rather than PayPal or whatever else.
I wanted to pay someone $100 through PayPal recently and couldn't complete the transfer because my balance wasn't enough due to the $7 fee it wanted to charge me. I had to top up my balance to complete the transaction because the other side didn't wan't to deal with anything other than PayPal.
This is something where Bitcoin shines, and I am certain that it will attract more and more users as PayPal & Co don't think it's necessary to lower their fees.
I wanted to pay someone $100 through PayPal recently and couldn't complete the transfer because my balance wasn't enough due to the $7 fee it wanted to charge me. I had to top up my balance to complete the transaction because the other side didn't wan't to deal with anything other than PayPal.
This is something where Bitcoin shines, and I am certain that it will attract more and more users as PayPal & Co don't think it's necessary to lower their fees.
January 04, 2019, 03:39:22 PM
Skeptics and critics have continuously attacked Bitcoin as worthless and a useless speculated object backed by nothing.
bitcoin is a decentralized currency, something that gives people the opportunity to be free, this already causes banks and certain governments to be scared, they know that the larger the number of people are free, the smaller the power of this small group that enslave many people. We should not worry about these guys who say that bitcoin it's useless
January 04, 2019, 11:47:18 AM
If I ready to buy Bitcoin for $0.1 then it can't be worthless
You are true and be carefull there many big players who wondering to pay nothing for a full bag of btc.If bitcoin would cost nothing the price on the exchanger would be a zero, logically.
January 04, 2019, 11:45:10 AM
The best explanation for me was the comparison to foods or drinks. If you don't like caviar it's worth nothing to you. If you had a can of it you would throw it away because you don't eat it. Another person will be willing to pay a lot of money for it and feel great eating it. Your view on things is very rarely unbiased and it's important to look from a different perspective. I love Bitcoin and it's valuable to me despite what someone else will say, but I'm not trying to put this opinion in other people's mouths. I'm fine with them not being interested in decentralized, private money.
January 04, 2019, 10:20:17 AM
If I ready to buy Bitcoin for $0.1 then it can't be worthless
You are true and be carefull there many big players who wondering to pay nothing for a full bag of btc. January 04, 2019, 09:52:37 AM
Bitcoin is worth $66,202,868,118 at the moment 
January 04, 2019, 09:50:24 AM
Backed by nothing? How about the safety and security with which I make every spend, the comfort of knowing my coins are going exactly where I want them to, without any chance of getting hijacked?
If they do just look closely with this single line then they might really changed up their minds or would somehow agree.Criticisms are normal but putting a conclusion isnt really applicable at all on the current state on what we are seeing now with BTC.
If Bitcoin is worth nothing then we arent seeing $3000+ price as of this moment.
January 04, 2019, 06:38:02 AM
A lot of people are willing to pay lots of money for digital items like skins for their weapons or a piece of virtual property, but when they are confronted with Crypto currencies, they suddenly do a 360 and tell you that Bitcoin is worthless.
The moment when you convert fiat to digital tokens, it has a value. The difference between in-game currencies/tokens and Bitcoin are the fact that the value of these tokens are determined by the software developer and not on supply and demand like with Bitcoin. 
The moment when you convert fiat to digital tokens, it has a value.
January 04, 2019, 04:44:07 AM
I don't buy very much but I'm earning almost chiefly in Bitcoin (or some other form of similar asset class that I then sell for Bitcoin), and have been for over a year now so yes, clearly there are idiots like me who think it's worth my time and efforts to work and choose to get paid in Bitcoin instead of other currencies.
And I spend every week, sell every 2 or 3 weeks, so clearly, merchants are accepting Bitcoin for goods and services, and other idiots like me are taking my coins for some money.
Worth nothing? Think the numbers and facts speak for themselves.
Backed by nothing? How about the safety and security with which I make every spend, the comfort of knowing my coins are going exactly where I want them to, without any chance of getting hijacked?
And I spend every week, sell every 2 or 3 weeks, so clearly, merchants are accepting Bitcoin for goods and services, and other idiots like me are taking my coins for some money.
Worth nothing? Think the numbers and facts speak for themselves.
Backed by nothing? How about the safety and security with which I make every spend, the comfort of knowing my coins are going exactly where I want them to, without any chance of getting hijacked?
January 04, 2019, 02:02:47 AM
Yeah we absolutely know about this but people or users had agreed the market price of bitcoin now to which it was already reflected on coinmarketcap.com. The reflected market price for bitcoin were basing from the demand and the supply of bitcoin in the market.
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