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RE: Bitcoin Goes Loco! Surges through $2,500 Despite Fork Issues Continuing To Remain Unclear

in #money7 years ago

Hey Jeff.. first of all I am a big fan of yours and admire your work and all the efforts you take to keep people informed. But let me tell you that there is something wrong with all the cryptocurrencies and what they have in common with the fiat moneys of this fake world: they lack a fixed and unchangeable value. There is a fixed amount of btc that ever will be available but that's not the same. In fact that is one reason why you get richer every day just be owning btc. You stated out that the USD lost about 99% of its value during the past 100 years (since the creation of the Fed) and yes there might be no financial elite that is able to manipulate. But what happens with btc is all the same just the other way round and with different actors taking part in it. They claim the forex rates are reflecting and mirroring the value of the 'market' - what exactly is that? And how is it connected? How is the price of a loaf of bread concerned to it? In fact it isn't and it never should. If the quality and the quantity of that loaf of bread does not change - its value should not either. Let's say one loaf of bread is worth one unit of any 'whatsoever called money' then it should be like that today as it was yesterday and also should be by tomorrow. Real 'money' and I mean real as in real has no own value but is just meant to be a tool for exchanging goods, services, anything that can have a value. As you are mentioning parasites above - bitcoin as it is just creates new and different ones.