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 Replies: 12 / Views: 1,594 |
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Pillar of the Community
United States
882 Posts |
Forgive me if I am too narrow minded, or if this is the wrong forum, or if this has been discussed before.
Mint me a Proof State Bit Coin.
It is, obviously, not a US coin so it must be a World Coin.
I may be focused too much on semantics but it seems that a "coin" that only exists if electricity is available can't be really worth too much. Edited by PlumCrazy814
07/13/2015 01:52 am
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Pillar of the Community
Canada
2805 Posts |
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Pillar of the Community
United States
1192 Posts |
I say more of a token then a world coin since it isn't backed by any country and is hard to spend except at specific places. That would be the forum but........ Seems like a statement not a question.
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Rest in Peace
United States
17900 Posts |
I'm not sure if you are asking a question, or if you are just proving that your name PlumCrazy is true.
If you can't hold it, then it isn't a token or a coin. Regardless of where you can or can't use it, nor which if any monetary backing it might have in the real world, it just doesn't exist in the physical world.
As far as the 'value' of the bit coin, it only takes a few minutes of Google search to show that bit coins have value and can be used to purchase physical items and services.
I don't consider it all that much different from the current monetary system that a large percentage of us use now. Which is getting a check directly into our bank account and spending that money and paying our bills with a bank card, either credit or debit.
It's actually pretty rare for me to ever have "real" money in my pocket. If you watch most retail cash register transactions, you'll certainly notice that a wave of a card is more frequent than the time consuming check writing, or even cash.
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Pillar of the Community
United States
4085 Posts |
My son has a Bitcoin token - you can buy them on Amazon. It is actually pretty nice looking. |
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Rest in Peace
United States
17900 Posts |
Yow! Thanks for that, KenKat. You've given me my learnin' for today. Not only are there tokens, but LOTS of different tokens, and even currency, too. Nothing I'd buy myself but certainly interesting and there are a couple that are a heck of a lot cooler than some of our recent US mint commemoratives.
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Pillar of the Community
 United States
882 Posts |
Bertensgrad- I guess it was an open-ended statement to spark discussion rather than a question but I was hoping to understand why there seems to be actual value to these things.
moxking - Some may think I am PlumCrazy but I just think that I am cantankerous. I suppose I could be in denial.
I have an underlying concern that the effect of waiving a card at every transaction at a cash register somehow debases currency by parasitic fees but I guess this is the world we live in.
KenKat - I didn't know that there were actual, physical, tokens. Do they really have non-code value?
Some believe BitCoins are a first step toward "world currency". The concept of "mining" them seems too abstract to me. I suppose there may be a parallel comparison to scarcity of coins minted in noble metals since there is a finite number of bitcoins but I personally don't buy it.
Bitcoins seem to me to be akin to 17th century Tulip Mania.
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Pillar of the Community
United States
4085 Posts |
The Bitcoin token my son has is struck in copper so it has a small intrinsic metal value but it is really just a novelty item. It is not intended to be exchanged as currency and has no value in Bitcoins.
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Pillar of the Community
United Kingdom
709 Posts |
I have one of those bitcoin tokens as well. It is a good-looking piece of metal. I have it as the last item in my date-ordered collection of UK currency, more as a symbol of the future than anything else.
Alongside it, as a kind of in-family joke at my son's suggestion, I keep a mint-issue sealed KFC finger wipe. If you have seen the film "The Book of Eli" you will understand.
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Pillar of the Community
United States
882 Posts |
Quote:
Alongside it, as a kind of in-family joke at my son's suggestion, I keep a mint-issue sealed KFC finger wipe. If you have seen the film "The Book of Eli" you will understand. Hilarious |
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Valued Member
United States
232 Posts |
Bitcoins have value mainly because there is a dedicated community of folks who wish to acquire them. Many of the coins people collect (from non-existent nations or currencies, for example) have value for the same reason.
Based on the well known price fluctuations of bitcoin, right now it seems like more of a novelty than a reliable way to store value and conduct transactions, but perhaps that will change in the future. However, if an "improved" version of a bitcoin like currency gained popularity, I could see bitcoin losing value very quickly.
Edited by John Paul
07/16/2015 9:49 pm
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Moderator
 Australia
16806 Posts |
A "physical bitcoin" that never had any actual value in bitcoins attributed to it is neither a coin nor a token, but rather just a medal commemorating the existence of bitcoins.
A "physical bitcoin" that has had an actual bitcoin value attributed to it is a token, or more specifically a voucher - it can "circulate" from hand to hand and retain its full value, but once somebody enters the code on the sticker attached to the bitcoin and "redeems" their bitcoins, the physical bitcoin becomes a "used voucher", redeemed and cancelled with zero face value anymore. It would be like a bus ticket, or a postage stamp - once "used", it would have far less collector value.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
326 Posts |
It's a nice key ring carry piece:   |
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Replies: 12 / Views: 1,594 |
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Posted 07/13/2015 02:05 am
