Isn't that basically what bitcoin is?
We can hardly buy anything with it. We just give it value for the sake of giving it value.
Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.
We can hardly buy anything with it. We just give it value for the sake of giving it value.
Matter of fact, let's do just that for the heck of it, see how far we can go with it. I'll pick up a rock and call it Akorn and put it up for $10. I'll buy it back for $10 and let's see how much it'd be worth by the end of the year.
I think that is a bit of an unfair comparison. If you are creative enough there are actually a lot of outlets to buy things with Bitcoin and it is possible to buy most physical goods with in these days. There is less accessibility for purchasing services (like covering a trip to the dentist) but even that can be solved in a sense with access to Bitcoin ATM machines. I'd say it has actually achieved a lot in the ten years it has existed so far, considering it is a brand new payment method - not like a new debit/credit card provider who might just piggy back off existing infrastructure and has everything laid out already. Every day we see new outlets for it and that seems like progress to me - good luck trading much for your collection of rocks.
) and you want to sell it for $10. Someone is going to buy it and then sell it for $100. The more demand for your meteorite, the higher the price will go. Meteorites are hard to find, hence expensive.
