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Jul 22, 2013
"But who the h**l is backing the value of the Bitcoin? Sure, it has gone up like a rocket - but so did the price of tulip bulbs in 17C Holland"

Geez, you'd think people would be able to think for themselves rather than simply regurgitating whatever Paul Krugman told them.

Bitcoins are valued by people for many reasons: as an interesting phenomenon, for the ability to transfer value anywhere in the world almost instantaneously, for the ability to have total personal control of wealth, as an investment for the future, etc. The list goes on and on. Bitcoin is valued because of the unique things it allows you to do. Tulips, for example, don't allow you to transfer wealth to someone on the opposite side of the world outside of any govt controls. Trying to draw some analogy between the two is downright silly.
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Jul 22, 2013

*Money is a psycho-social influence management tool.*

Well explained. Now the Bertcoin needs Billions of Social media *Likes*, time to purchase some fake Twit followers!
Jul 22, 2013
Also, Scott Adams, bitcoin was *created* by somebody, but it cannotbe *controlled* by that person. That's the whole point of the design of the system.
Jul 22, 2013
@Ingmar - I don't think you understand what the phrase "insanely impossible" actually means. Impossible things don't happen. That's why they're called "impossible".
Jul 22, 2013
Let me think a sec, trust Dogbert, or the U.S. government... So where do I order those coins?
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