Dubstepforum.com

alphacat wrote:The value of gold is not arbitrary: besides its physical properties, which are useful in electronics and engineering - every chip in your computer is wired up with gold, for example - it is also durable and doesn't corrode, the supply is scarce but more or less steady, and there's a long running track record reinforcing its value (or the cultural perception thereof some like Von Mises would argue. Or aesthetics, etc... where's LD when you need her?)

Genevieve wrote:The reason a corporate lawyer makes more money than someone cleaning anything is similar to why gold or diamonds are expensive and wood is cheap, even if wood has far more useful applications than gold has. I don't think society as we know it could exist without wood, but it's so abundant that we place fairly little value on it. Gold is a rarity and has some uses, but its main appeal came from its relative rarity combined with aesthetic appeal. Its historical place in society has cemented it as something people place value on. Some people would naively have you think that labor determines value. But it doesn't matter if you went looking for that one piece of gold for years brushing dirt away with a toothbrush, or if you accidentally syumbled on that one piece of gold when you were hiking. People's interest in your gold hasn't increased because it took a lot of effort for you to find it.[

Genevieve wrote:A fiat currency is one that ... is declared legal tender by law.

nowaysj wrote:

Genevieve wrote:A fiat currency is one that ... is declared legal tender by law.

To my understanding, Germany has done this.

nowaysj wrote:

Genevieve wrote:A fiat currency is one that ... is declared legal tender by law.

To my understanding, Germany has done this.

JizzMan wrote:has there been a 2.0 of Silk Road?

bennyfroobs wrote:how do u turn bitcoints into something useful except for using them to buy some amsterdam eccies on silkroad

Dub_freak wrote:Time to start investing in Dogecoin.

@FourTet 18h
working on website/app collab with audiogalaxy where you will be able to order unreleased tracks I've made with burial using dogecoins

Dub_freak wrote:Time to start investing in Dogecoin.

BBC wrote:
One expert suggested the crackdown was the result of the Chinese government's fears that locals were using it as a way to bypass currency controls in order to move their savings out of the country.

"China is trying to grow its domestic economy and rebalance it from an export and investment-based model to a consumer driven one over the next decade, and to do that the authorities want to keep as much yuan within the country as possible," said Jinny Yan, an economist with Standard Chartered bank.

"They don't want to curtail any innovation in the financial sector. However, at the moment any unexpected growth and development in channels that allow by-passing of capital controls will cause anxiety."

Ms Spaven added that she believed Bitcoin would eventually bounce back.

"Underneath all the speculative trading is a robust technology that has intrinsic value as a payment network, offering cheaper and faster money transfer than any other options that exist currently," she said.

"If you look at our Bitcoin Price Index, you can see that prices dipped to below the current level this time last month and soon bounced back. I believe the same will happen this time around. It may take some time, but the price will rise again."

Phigure wrote:Market will go sideways if not down even further for a few months until another mini-bubble gets started and pushes the price past the all time high again