Topic: Bitcoin Is "Money Out of Thin Air"? (Read 937 times)
Bitcoin is the same asset as other financial instruments. We cannot touch it, but we can also earn on it. I believe that Bitcoin is one of the best tools for speculation. I trade on the BitSeven platform and with the help of Bitcoin I was able to earn good money.
Actually banks are creating money that we are using right now and nobody of us know about this.
In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank.
Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards.
https://www.youtube.com/watch?v=oJ5Hq0NDErA
It is very interesting that so many people think that bitcoin is a way to just print money out of nowhere when banks are the ones that are doing it right under their noses and they do not seem to notice, banks and their fractional reserve banking practices are one of the most important reasons why there is a huge level of inflation and why once there is a banking crisis so many of them face bankruptcy since they lend money to each other and create money that way and when several banks go bankrupt they have to register huge losses since those banks will not repay their debts. In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank.
Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards.
https://www.youtube.com/watch?v=oJ5Hq0NDErA
Bitcoin is what will let everyone in the world have money. Once robots will replace humans in many aspects, world will have more money to spread into humanity, bitcoin will help everyone get it.
"Nothing is truly backed. Governments are also turning towards digital currencies which pushes the idea of bitcoin or digital currencies more. But, with the reach of governments means that they will be able to push their digital currencies to users more compared to traditional digital currencies including bitcoin.
Also, the value of any asset generally is more speculative of the time we live in. In the past, civilizations used different forms of currencies to do trading. Right now, we are moving towards decentralization and hence makes digital currencies a great chance to have an impact on our economy and social structure."
Also, the value of any asset generally is more speculative of the time we live in. In the past, civilizations used different forms of currencies to do trading. Right now, we are moving towards decentralization and hence makes digital currencies a great chance to have an impact on our economy and social structure."
bitcoin and crypto are the best digital assets with blockchain technology. It will greatly help life in the future, maybe it can replace money if everyone feels happy with bitcoin and all crypto coins because this is very easy to understand and simple.
Bitcoin is not really born out of the thing air you still have to mine bitcoin by solving a puzzle problem and not everyone can do that yes bitcoin is never gotten in physical form
yeah right i believe bitcoin is money out of thin air.
what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government.
It's really a product of thin air knowing it has survived for 9 years all its troubles like bitcoin is a scam or just a bubble that will be gone suddenly.But hey bitcoin is still alive up to the present and now it's gaining more popularity and trust by the people and even those who doubted it at first.I think a currency that is most likely to receive negativity will have high chances to gain success in the future. what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government.
yeah right i believe bitcoin is money out of thin air.
what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government.
what is clear is that so far bitcoin still exists even though it continues to be reported as not good and is very much feared by the government.
I think we can say that bitcoin is money out of thin air. After all, its price can change very quickly and people can make a good profit. In addition, those who believed in bitcoin at the very beginning of his journey, took a chance and now have a lot of money.
Unfortunately I have to agree, crypto currencies are creating money from thin air, they got no tangible form, no regulatory body and everyone can create it, this is also the reason for the traditional investors to label crypto as the fraud investment, but its a complex situation and people will argue about this
Are you joking? Bitcoins are the most heavily regulated currency in existence because the rules are all hard coded, and can't be modified. With "regulated" fiat currency, the "regulators" can print notes in unlimited quantity, can reverse transactions, can freeze assets arbitrarily, etc...
Unfortunately I have to agree, crypto currencies are creating money from thin air, they got no tangible form, no regulatory body and everyone can create it, this is also the reason for the traditional investors to label crypto as the fraud investment, but its a complex situation and people will argue about this
Bitcoin has just turned 9 years old...it was nine years ago that Satoshi Nakamoto shared to the world the whitepaper that would be the basis for the creation of Bitcoin and its underlying technology called the Blockchain. The ride was not really that easy because it took some time for Bitcoin to finally caught some fire which pushed the digital currency into the attention it is getting right now. People of course doubted at that time how can mere programming be able to create a digital currency that would have some value.
As of today, those people who took the risk (no matter if they might have not been serious at that time) are experiencing the surprising rainfall of value they might have never expected to happen. Lucky for them...for many of us we have to work hard to get our Bitcoin though it is really worth every penny of the hard work (or money) we put in to get hold of some Bitcoin.
There are still many people who are holding the idea that Bitcoin is essentially making money out of thin air. It is as if the idea of Bitcoin has not yet been absorbed by their consciousness and so many can be dismissing Bitcoin as just another fraud which is waiting to pop and to just evaporate like a bubble.
Of course, we have already progressed out of this stage and right now Bitcoin is already an accepted currency and store of value by many prominent personalities and institutions.
Probably when the first plastic cards appeared all the money became out of thin air, we became very dependent on electricity.
The concept of currency is assigning value into a system used for exchange in a economy. Ancient Greece used peppercorn as a form currency at one stage in their history.
Bitcoin isn't money out of thin air - most of its current value derives from the fact that it is exchangeable for fiat. Remove that fiat conversion option, and it would be worth virtually nothing. It's barely used in commerce.
If anyone is making money out of thin air, it is the banks. They are lending and using oney that doesn’t even physically exist to make more money for themselves. Its getting to a point now where it is on the verge of collapse. If the federal reserve raise the rates then it could cause a worldwide crash of markets. At least with Bitcoin, you know what the maximum amount is that will ever be circulating in the world. It cannot be manipulated by centralised persons or groups either.
Yup in my opinion Bitcoin has been created from nothing and people in past years didn't know either me that BTC can solve some of the financial problems in the world. And because of Satoshi and his/her team internet, blockchain plus bitcoin also became one of the most useful things that ever created.
nope, but the fiat you use is just "Money Out of Thin Air" and "Backed by Air".
Actually banks are creating money that we are using right now and nobody of us know about this.
In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank.
Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards.
https://www.youtube.com/watch?v=oJ5Hq0NDErA
In past, Commercial banks were responsible for creating paper cash, they used to give paper cash to people who will deposit heavy metals or Jwelleries in bank.
Later on reserve banks taken out this power from commercial banks, but right now banks are creating digital money and most of us are using those digital money created out of thin air with our credit cards.
https://www.youtube.com/watch?v=oJ5Hq0NDErA
What make me confuse over people ideology about money is that they just believe what ever their Government tell them just because that is the tradition that was handed over to them. In a nutshell our fiat currency is make out of thin air as well.
Please permit me to ask this rather naive question. Did Satoshi intend bitcoin to be a currency or did he intend bitcoin to be a means of saving numerous people from the manipulations of the banking system extorting huge sums from them as transaction fees?
Whenever I see the discussion of bitcoin as money, it strikes me as if the original intent of bitcoin is being derailed. Can someone put me in the right perspective?
Whenever I see the discussion of bitcoin as money, it strikes me as if the original intent of bitcoin is being derailed. Can someone put me in the right perspective?
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