my point exactly. @Dr.Wol so say you are on a blockchain. i like the things you post. i send you money

whoops, now you are an investor

what you gonna do then?

@Dr.Wol ` you just gotta make sure resources back them`
dollar is backed by nothing.

sit on it i guess 😛 i don't need your moolah

Dollar is backed by the US economy

if the US economy goes bad, dollar loses value

imma send tim some crypto

tim gonna be like oh shit in 10 years

Tim will either be "Oh shit!" or "Oh... Shit..." 😄

either way he cant lose

just come back collect or just forget it exists if it fails

and private owned FED is printing that money and spending it where ever it wants.

its practically stealing from everyone

but my issue with bitcoin is that it has no tangible value other than what people give it,

Gold is a substance you can still use,
as with any resources, but bitgoin is purely based on the faith and free market, and i don't have that faith for it 😦

They can't do that Jasse

@Dr.Wol what value does youtube have ?

it has no tangagle value other than what you give it

so why do you use youtube it have no value?

I'm not sure, i don't know the collective value of the server assets and code input

same with bitcoin or steem or smoke whatever chain

you dont know the value of it's assets, servers, code, humans

Youtube isn't just a magical existance, it has servers running, buildings containing it, theres value with the code

Youtube isn't a currency

@Dr.Wol you dont have faith in bitcoin. but at same time you trust dollar that is based on faith and isint backed by anything.

I don't trust the dollar, but its still rooted in actual resource

bitcoin steem have the same elemnts. servers running. buildings containing them ? so what?

whats your point there

its not rooted on anything.

yea dollar is going to be worth less

already lost 97%

will be 100%

steem itself has value, but if the bitcoins become my property, i don't own part of their server

yea bitcoin different

shit this gets hard to compare with differnt kinds of coins

it does, thats why i don't trust it 😛

FED dont even have any gold to back up.

I get your point, and everyone who trusts bitcoin is free to use it, but i don't trust its stability

bitcoin is more like you own portion of the decentralized network... steem you own a direct rep of actual network power you can use via TX

Federal reserve is not FEDERAL nor RESERVE.

yes