Gchjh wrote:
Might as well let air be money. “Hello sir, my I buy this Maserati - I have 400 jars full of air.”
What other nonsense can we call money?
All of you folks saying Bitcoin is not based on anything and is thus worthless have no clue how money works.
The dollar, the euro, the pound, the yen, etc. are all fiat currencies. That's just a fancy way of saying that they're not based on anything. But they don't have to be. They are just a way of saying "I'll give you this dollar in exchange for something that is actually useful and then you can take the dollar I gave you and use it to get something else that is useful." Currencies are ways to denote storage of value even though they have zero intrinsic value.
Bitcoin works exactly the same way.
And you can buy a Maserati with Bitcoin.