Discussion
C0ffin D0dger said:
They're only worth the value of the goods that someone is prepared to exchanged with you in return for them. Don't most of these exchanges take place on certain "dark web" sites or do they get used with legitimate businesses as well?
supply and demand would dictate a price, but the creator owns 1 million out of the current 14 million, 7%. 100 people own around a third of all bit coins (including owner). The distribution/spread is not great really, could say price is propped up, and in theory could be a bank run at one point by a high holder that would reduce the bitcoin to worthlessness, considering the anonymity involved, i.e lack of accountability. I don't see you can view it as a currency, it seems more like a share or commodity. A storage vessel for money that probably wasn't set out they way.
Edited by The Spruce goose on Monday 4th January 18:55
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