I am not comparing #bitcoin to post-its per-se. I'm just pointing that things have value if people are willing to pay for it. What was originally dismissed as worthless, went on to be worth a fortune. Many thought bitcoins would be worthless, but those who bought early and kept them this long could also make a fortune.
On the otherhand, should there be a major hack, or a government crackdown, or proof of an intentional scam as you fear, bitcoin could instantly become worthless.
That reminds me about a story I once read about #3M. They invented this glue that was "worthless" since it only had a bit of sticking power. Then someone got the idea to make Post-It notes out of them - tiny slips of paper with "worthless" glue on the back. Companies and individuals spend a fortune on those ever year. $MMM
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I am not comparing #bitcoin to post-its per-se. I'm just pointing that things have value if people are willing to pay for it. What was originally dismissed as worthless, went on to be worth a fortune. Many thought bitcoins would be worthless, but those who bought early and kept them this long could also make a fortune.
On the otherhand, should there be a major hack, or a government crackdown, or proof of an intentional scam as you fear, bitcoin could instantly become worthless.
An Objective Look At Bitcoin; What No One Is Giving
That reminds me about a story I once read about #3M. They invented this glue that was "worthless" since it only had a bit of sticking power. Then someone got the idea to make Post-It notes out of them - tiny slips of paper with "worthless" glue on the back. Companies and individuals spend a fortune on those ever year. $MMM