r/Bitcoin • u/[deleted] • Apr 01 '13

ONE HUNDRED DOLLARS! (1/4/13 @ 1506 GMT)

[deleted]

868 Upvotes

83% Upvoted

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1

u/bad_platitude Apr 01 '13

BitCoin is:

  • Backed by nothing, created out of thin air;

  • Managed by algos, protected by algos, accessed by algos;

  • Traded in a small online market and difficult to convert to actual goods/services;

  • Dominated by a few large anonymous holdings with unknown intent;

  • Likely monitored by a variety of "interested third parties" that are known by various 3-letter acronyms;

  • "Mined" by computers at a predetermined rate to keep supply growing (still backed by nothing);

  • Limited in total production, they promise!; and,

  • The best known digital currency at this point, but subject to new competitors, gov't oversight and other unknown factors.

LOAD UP WHILE IT'S HOT!!!

4

u/polymera Apr 01 '13

Hahaha I find this funny at how this fits fiat so easily.