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Topic: Is Bitcoin placebo-money? - page 2. (Read 2849 times)

member
Activity: 84
Merit: 10
June 22, 2011, 08:54:46 PM
#6
its only worth what someone's willing to pay for it Wink

Which is what concerns me.  Who the hell is buying bitcoins for 30 dollars when in an hour they could be selling for 15 dollars?  That is, I would like to buy low and sell high, but who the hell is buying high?
hero member
Activity: 588
Merit: 500
firstbits.com/1kznfw
June 22, 2011, 08:40:31 PM
#5
yes bitcoin has value because people believe it has value.
same with fiat money

Same with all money, frankly. Go to a deserted island with a brick of gold and see what you can get for it.
member
Activity: 70
Merit: 10
June 22, 2011, 07:44:54 PM
#4
its only worth what someone's willing to pay for it Wink
legendary
Activity: 2058
Merit: 1431
June 22, 2011, 06:45:37 PM
#3
yes bitcoin has value because people believe it has value.
same with fiat money
newbie
Activity: 52
Merit: 0
June 22, 2011, 06:40:55 PM
#2
yes bitcoin has value because people believe it has value.
hero member
Activity: 616
Merit: 500
Firstbits.com/1fg4i :)
June 22, 2011, 05:44:31 PM
#1
Would it be enough if a big enough number of people believe Bitcoins are worth X amount of USD, or just believing in the price isn't enough to sustain it? What about the future if enough people believe Bitcoins are gonna be worth at least X more USD in six months, just by having enough people like that using and talking about Bitcoins would the price go in that direction or more than that would be necessary?
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