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  • Milly Bitcoin

    The argument that the US dollar has intrinsic value because it is enforced by laws while Bitcoin has no intrinsic value is a flawed argument. Most would say that neither one has intrinsic value because if the underlying system fails there is no value. While the dollar is given value by law, Bitcoin is given value by its users so some using your argument they would both have intrinsic value of a sort.

    Your other arguments identify valid risks but Bitcoin is still in in its experimental stages so trying to make predictions at this point is not really possible. You cannot compare established systems to a new experimental system and expect a one-to-one comparison. As for the endless rants of “its used for illegal stuff” “It is unregulated” “its anonymous”, etc. we heard that all before when the Internet was started and the last time I checked the Internet hasn’t failed yet. Those are just hyperbolic statements that divert attention from the true risks of the system.

    As for investing, Bitcoin is an experimental system and there is no real way to value it except the value placed on it by the free market. The free market is currently filled with people who don’t understand Bitcoin or the fact that it is experimental so the risk is huge. Of course Bitcoin can function as payment system just fine without investing in it.

  • Pablo Rojas

    It is hard to keep news up to date. Overstock already started accepting Bitcoin payments today for all its products.

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