If I offer you a tulip for $25,000 would you buy it?

petesergeant 6 hours ago | parent | next [-]

If I think the resale price will stay at $30k long enough for me to flip it, then obviously yes?

throw310822 6 hours ago | parent | prev [-]

Sure, if there were a stable enough market in which I can fetch twice that amount for that tulip, I'd buy it in a heartbeat. Wouldn't you?

The point being: BTC is a an abstract good, of no practical use except that of being transacted. Has whatever value the people are willing to pay for it, and has had a value in the tens of thousands for long enough that buying one with the intent of keeping it for a while is not such a stupid idea. I don't currently own any but there is a price at which I would buy one, and that price is many thousands of dollars... For an alphanumeric code in a distributed ledger.

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tcp_handshaker 3 hours ago | parent [-]

Being transacted is the least usable thing for BTC. He you tried to transact on it? Its so slow its funny people claim it a use case for it... I know of only one use case, and its to anonymously bribe politicians who have their own coins.

	▲	throw310822 2 hours ago \| parent [-]
		I didn't say it's used to buy things. I said it's bought and sold.