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Discussion » Statements » Rosie's Corner » Is BITCOIN another Beanie Baby scam? What is the INTRINSIC value of bitcoin or is it mercurial and temporary?

Is BITCOIN another Beanie Baby scam? What is the INTRINSIC value of bitcoin or is it mercurial and temporary?

Posted - December 24, 2017

Responses


  • Can't answer the first question as I have no idea what a Beany Baby is.
    But for the second, the answer is none, definitely mercurial and temporary.
    Think of a talisman. It's meaning and value depend entirely on what people agree.
    Think of the Emperor's New Clothes.
    But Bitcoin is not alone.
    Each country that has deregulated its currency now has money with purely arbitrary value. Many countries, including the USA, have national debts far exceeding the value of the interest they can afford to pay. This is a world financial collapse that is inevitable, a house of dominos which will fall with the first giant corporate bust. It will the sub-prime mortgage disaster look like the collapse of a child's sand castle.
    The only ones who will be safe will be those who have no debt whatsoever, who own their homes and land, can grow food, and have a safe source of income.

    Wishing you a Happy Xmas, Rosie, with all your extended family around you, and lovely Skypes with the ones overseas. This post was edited by Benedict Arnold at December 25, 2017 2:44 AM MST
      December 24, 2017 11:05 PM MST
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  • 113301
    Beanie Babies were very cute little plush toys years ago in a variety of animal forms. At one time people bought them like crazy and the prices got pushed up to ridiculous heights. They thought they were investing in something that would only grow in value! Hah. They dropped with a very big thud and eventually became pretty worthless. People were paying exorbitant prices for them. They had to be in pristine condition in their original wrapping. Thank you for a very thoughtful and informative reply. I appreciate it. Also thank you for your kind wishes which I send back to you, too, m'dear!  Merry Christmas to you and yours Hartfire! :) ((hugs))
      December 25, 2017 2:49 AM MST
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