lsparrish comments on Bitcoins are not digital greenbacks - Less Wrong

6 Post author: lsparrish 19 April 2013 06:13PM

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Comment author: lsparrish 29 April 2013 06:55:55PM 2 points [-]

Anyone bidding on a Bitcoin is not bidding on a productive project.

It seems that the same goes for gold, real estate, and so forth when they are used as a store of value. The difference is that unlike bitcoin, these things have other productive uses that they could be put to, less expensively, if they weren't being used as a wealth-counting mechanism.