Where did I say anything about agreeing with nVidia? Post up a direct quote or retract that lie.
You didn't and I apologize if you feel that I put words in your mouth. I conflated your post with that of another poster.
Did you stand on a soapbox waving religious pamphlets while composing that one?
"No understanding of Bitcoin". Of course not, only the true enlightened disciples of the religion of crypto(tm) are attuned to this wonderful divine knowledge.
Pssst, I have a great offer for you. Ready? Here it is:
BFGCoin
That's right, a brand new crypto I just invented right now,. It has value because I said it does, and because you read it on the internet (so it must be true).
I also decide what numbers have value. I'll take #4, #10, and #60 for myself. The rest of you can burn through the power of the countries of Denmark and Ireland finding the other magic numbers.
For the low price of $million USD I'll give you one BFGCoin plus one free (what a bargain!), both on flash drive. You can plug it in atop that bridge I also just sold you.
Enjoy your new wealth!
Will anyone else accept BFGCoin as payment for goods or services? If not, then it doesn't matter how much you think it's worth or what you want to charge for it. Someone could mold some mud and loose gravel into a bust that loosely resembles Abraham Lincoln and charge $2,000,000 for it, but I doubt anyone would exchange money for it. Similarly the Venezuelan government can print a whole bunch of money and declare that it's worth value, but everyone knows its effectively worthless. It doesn't matter what you the seller say something is worth, it's the purchaser of something who determines its value because you cannot exchange what you have for more than they are willing to offer in exchange regardless of medium.
All currencies are just a commodity used to make commercial exchanges easier and don't change the underlying economic situation that would continue to exist independently of the existence of those currencies. Even if you're bartering goods, the exchange value of any good can vary based on supply and demand. Even the precious metals like gold and silver that were used historically as currency are subject to inflation or deflation based on their relative quantity. More modern fiat currencies only work when production of them is regulated to ensure that too much doesn't enter the market at any time and similarly that there isn't too little available either as countries that have tried to print their way out of debt have discovered. Currencies don't create wealth, they just help in the exchange of it.
BitCoin doesn't suffer from the same problem that the BFGCoin does. People all over the world will exchange it for other currencies (it isn't tied to the US Dollar and could just as easily be measured against any other currency) or as payment for goods or services. That it can be exchanged in this manner is what gives it value. There isn't any religion crypto dogma required to understand this. It's really just simple economics. BitCoin is just interesting because it's a decentralized system that found a way to solve the double-spending problem that effectively prevented most forms of digital currencies like it from existing.
Put it another way. There are any number of other things that people could be doing with computers and electricity. Everyone currently mining crypto currency could be crunching data for SETI, calculating Pi to an even more approximate amount, or even using their GPUs to run 3DMark benchmarks over and over again. People do these to some degree, but not at the same amount as they use them to mine for crypto currencies. If these were all equally pointless, then why are people gravitating to one of these supposedly equally pointless actions as opposed some other action? That simply shouldn't happen or we'd see a lot more people molding some mud and gravel into busts that loosely resemble Abraham Lincoln.
I think it's far more reasonable to say that you don't understand economics, how BitCoin works, or why people think it is valuable as opposed to declaring it all nonsense and trying to waive away the actions of thousands to millions of people as utter nonsense. If your issue with all of it is that there are a lot of other people who don't really understand crypto currency who are buying and selling it, then I'd have to ask how that's any different than the stock market that has been around considerably longer. The universe is under no obligation to make sense of itself for you, but failing to understand it doesn't mean you are correct or that your opinions are at all informed.
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