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Old 03-30-2013, 06:11 PM   #11
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Originally Posted by Prodigal19 View Post
To be fair most currencies operate on the same premise. They only have value because people believe that they have value.
There is a difference between a fiat currency, which at least represents a nominal value within a national economy, and a completely unbacked virtual currency.

The USD can plummet if the U.S. economy gets screwed up badly. The Bitcoin value will plummet simply when the fad is over -- or if the Bitcoin system is compromised enough (which has already happened several times).
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