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Ok buddy thanks
Ok buddy thanks
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My thing with bitcoins is ...
I have a bitcoin, I sell it for 7k now someone else has ownership. I withdraw the 7k, so now that bitcoin has no value unless someone else is willing to pay that 7k.
It seems like of people just decide to not be interested in it, wouldn't just be worthless?
There's no money tied to it ...
If I'm wrong let me know ...
People can say it's the same for stocks, but unlike bitcoins most of the companies have some assets that are tie to the company.
I have a bitcoin, I sell it for 7k now someone else has ownership. I withdraw the 7k, so now that bitcoin has no value unless someone else is willing to pay that 7k.
It seems like of people just decide to not be interested in it, wouldn't just be worthless?
There's no money tied to it ...
If I'm wrong let me know ...
People can say it's the same for stocks, but unlike bitcoins most of the companies have some assets that are tie to the company.
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Im not quite sure what you’re saying or what you’re getting at but if u have 1bitcoin, yes u own it since the blockchain proves you have the hash for it. When you say “withdraw”, you really mean sell/transfer your bitcoin for fiat. When u do so, the chain will show u the new owner.
As for your scenario that it could be worthless...its how the world works...supply vs demand. With bitcoin, its getting stronger due to the ecosystem...soon banks are getting in, so that will only justify its value.
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I bet the supply and demand and i understand the sell/purchase part.
What I'm saying is, if I have 1 and I transfer that to you for 7k, I then withdraw the cash from the equation and that leaves 1 bitcoin. How is that bitcoin still worth 7k? Just because people say it is ... there's no real assets backing the bitcoin.
The us dollar is worth something because government day is worth something and because it has gold per say to back it.
What is backing these crypto currency?
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Bud, hate to be a **** but ur asking questions that YOU KNOW have been anwered many times ...just google it, youtube it and you’ll see FAQs on it.
Its like me asking, “how can the usd be worth anything when they can print unlimited supply of it”
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Same way paper money works. Dollars are not backed by gold. It has no intrinsic value
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You aren't being a **** and that's not how it works. You dnt print money and expected to hold value just like bitcoins can flood the market and expect to hold that value. However, USD is backed by federal reserve which has tons of gold.
What is backing the bitcoin is the question ....
If you know the answer why are you referring me to Google. Thanks though....
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So paper money is not insured? Stocks have no assets to back them ok.
America say is worth it and we just say ok .... if America economy collapse, the gold would just be sitting there just for fun.
I mean I know we went away from the gold backing the USD but the gold is one of the reason along with our economy that the government can say the USD is worth something
Ok ....
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Umm...yea. Basically
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LoL ...
The United States of America is backing the currency.
Again, what's backing the bitcoin?
Just a simple question ...
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And what does that mean? There's your answer
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Smh.
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Bitcoin is backed by D.E.E.Z.
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Basically
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You keep talking gold. Gold has nothing to do with the dollar. Zilch
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I already said that and I went to explain the purpose of gold ... but is cool.
You are just more focus on that, than what I'm asking or saying....
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LoL
Is cool man, sometimes I forget where I am.
Can't have a conversation because this childish behaviour come out.
You have no answer .. I get it.
Just tell me to go to Google. LoL
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IDC what Bitcoin is backed by.. I'm here to cop a Tesla while everyone else gets their lambos.
Wish this fork would hurry up already!
Wish this fork would hurry up already!
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Bruh..I'm actually trying to help you. If you say you understand what gives the dollar its value then you should understand what gives BTC its value
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Nope ... is not the same...
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Oh..
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I don't blame you, cake up my dude.
I'm not here to discourage anyone ... it was a simple question .
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How liquid is bitcoin?
