Quote:
Originally Posted by scho63
I'm a pretty smart guy who can usually understand things after being explained to me once, if not twice for sure.
This whole cryptocurrency backed by nothing confounds the hell out of me too.
I can't help but correlate this to the great "Tulip Bulb" craze in Holland hundreds of years ago that destroyed many.
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People value what they value. Why do people value gold, diamonds etc? No idea, but they do. Bitcoin and other crypto currency has many advantages because it doesn't have to be converted to USD, CNY, Euro etc. Its also easily exchangeable for goods and services. Its quasi anonymous