Topic: Bitcoin Is "Money Out of Thin Air"? - page 3. (Read 937 times)

The assumption is correct and people are still ignorance where the money from and what are the other importance of it and used. People are satisfy as long as they have money and they used it in they what they want but they never see the true importance of it. Currency is made to use people in different way the concept of it is assigning into a system that used for exchange in the economy of one government. Also currency have a vast role in the government and the people of the state.

Instead of Bitcoin, I would rather question whether Bitcoin Cash and Bitcoin Gold "Money Out of Thin Air"??

The assumption is right and its something people are still wallowing in the ignorance of understanding where the money is coming from and the more you try to explain, the confusing it seems for those who have made up their mind that bitcoin is a bubble that would burst very soon but the same set of people will not be able to provide you an answer as to where the fiat they have in their bank accounts, spend on several things comes from but its actually a form of programming one way or the other.

Today, someone will transfer a Chinese Yen to someone who will receive it in dollars, neither does the man in China takes the physical Yen across the world to someone who will receive the dollar equivalent rather its just some form of electronic algorithm that is being transferred from one place to another and to avoid the curiosity of people, they made it seems physical exchange has been factored into the transaction.

What Satoshi tries to do is to ensure that the freedom is handed over to the individuals rather than conglomerates and that is where in my opinion, the confusion is coming about even from the elite.

Yes I think because although the job you do in btc is different from other job and it takes time for you to earn money, it is so worth it once you claim your profit.

Central banks just print money also.
Bitcoin mining(creation) is currently gulping up vast amounts of electricity just to create.
There is some intrinsic value in its creation.

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.

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

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.