Re: I have got a lot of monopoly money
Tulips of Bitcoin. Both are "imaginary" value (not actual practical/useful work).
Yes, carrots also have a value, but also have a use. You can eat them. If based with a tulip, bitcoin or carrot, their value will change giving different circumstances. But the tulip and carrot are always edible. :P
Bitcoin and other virtual currencies are purely trust items. The trust in the setup is "no one else can have these", in Bitcoins case both time to compute and ownership apply. With money it's time to earn (trade of value) and ownership. With blank bits of paper, it's free to earn (no time/almost no cost), but no ownership, as who knows a real TechBen$10 note from a fake one!
So as with tulips vs carrots vs bitcoins, we have nationally backed and counterfeit protected money vs bitcoin vs a note written by me saying "I O U $10". With bitcoin having more trust than me putting notes on the back of napkins. :P
Biting the hand that feeds IT
