Quote:
Originally Posted by adendreams
Yes your lack of knowledge about financial services products is the very essence of this conversation -
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Not really. The essence of the thread is bitcoin doesn't have intrinsic value. It doesn't take extensive knowledge of the financial services industry to understand that simple point.
Quote:
Originally Posted by adendreams
it's the only reason you posted a youtube video from a bitcoin smear tactician as if his opinion means anything.
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He makes a good point. Thats why i posted it. You have failed disprove any thing he has said. And no, smearing him or me with Ad hominem attacks doesn't disprove his point.
Quote:
Originally Posted by adendreams
The reason these guys are scared shitless by Bitcoin is they trade daily in Financial Services Products (on wall street it's in the hundreds of millions, or billions) of dollars worth per day that have absolutely no intrinsic value.
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bitcoin is intrinsically worthless, and so are many other financial products, so what? Why would dealers of intrinsically worthless shit be afraid of other intrinsically worthless shit? that statement makes no sense.
Quote:
Originally Posted by adendreams
You really didn't get my meaning that the word Intrinsic (of course it has meaning) has no meaning to the longevity or stability of Bitcoin? Meaning - it's irrelevant.
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Intrinsic value in this context means an object has a value if it has a worthwhile use outside of an object of speculation. Gold Does, Bitcoin Doesn't.
Quote:
Originally Posted by adendreams
all it takes is something that takes resources (work) to get, and is finite in quantity (many would argue) - those 2 simple features contained in a Financial Product are ALWAYS going to make people want to trade that product...
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Not really. Not forever and always. There are MANY examples that prove that statement wrong.