Comment: Bitcoin is not fiat!

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Bitcoin is not fiat!

Does Bitcoin derive it's value by government decree?

Absolutely not!

Where does Bitcoin's value come from?

Like Gold and all other goods on the market, Bitcoin's value is subjective.

It has value because people have demonstrated preference for it, it has value because people have assigned it value.

While I agree that as Bitcoin is not a physical commodity like Gold or Silver, that I have doubts about it.

But, I am not wishing ill will towards it, I want it to succeed just as you should want it to succeed,.

It is a competing currency that allows people to get out of the US dollar and keep their hard earned money out of the prying eyes of the State, Bitcoin is a good thing!

All the angry and aggressive comments towards Bitcoin suggest that many of you simply fear it because you don't understand it.

You don't have to get into Bitcoin if you don't want and no one is forcing you to use it, Bitcoin hasn't done anything to you, it is not evil, be happy that there is new medium of exchange challenging the dollar's supremacy on the web.

Check out the Laissez-Faire Journal at LFJournal.com


"The State is a gang of thieves writ large." - Murray Rothbard