The Instigator
harrytruman
Pro (for)
Losing
0 Points
The Contender
V5RED
Con (against)
Winning
3 Points

bit coin is worthless

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Post Voting Period
The voting period for this debate has ended.
after 1 vote the winner is...
V5RED
Voting Style: Open Point System: 7 Point
Started: 9/12/2015 Category: Economics
Updated: 1 year ago Status: Post Voting Period
Viewed: 442 times Debate No: 79650
Debate Rounds (3)
Comments (14)
Votes (1)

 

harrytruman

Pro

Bit coin is worthless, it's thin air, top that.
V5RED

Con

Bitcoin can be traded for goods and services. Things that can be traded for goods and services have value. Anything that has value is not worthless. Therefore bitcoin is not worthless.

Bitcoin is a digital currency. Digital currency is immaterial. Air is material. Therefore Bit coin is not air.
Debate Round No. 1
harrytruman

Pro

No you are absolutely right, it is less valuable than air, and no bit coin cannot other be used to buy services, even so, it's "value" is unstable, it can't stay the same for even 1 year.
V5RED

Con

Most things are less valuable than air. It keeps us alive.

Of course it can be used to buy services. Any currency can buy a service. You just need someone to accept bitcoins in exchange for an activity which could be any service such as smuggling drugs.

Variable value is not the same as no value. The dollar changes value multiple times every year.
Debate Round No. 2
harrytruman

Pro

On small occasions yes it changes by a few cents.
And no, it can't buy things, you'll never find a Starbucks where they accept thin air, if Tessa would have known that his wireless transmission systems would have been used to rip millions off, he would not have invented it.
Also, anyone can just make more.
V5RED

Con

The magnitude of the change is irrelevant. The fact is that any range of value over zero is still value.

Air is not sold here, but if pollution became rampant, clean air could become a commodity. Additionally, not all value can be purchased. You cannot purchase love for dollars, but it is generally valued by people.

I cannot make more bitcoins and unless you are actually an owner of the bitcoin distributing organization, neither can you.
Debate Round No. 3
14 comments have been posted on this debate. Showing 1 through 10 records.
Posted by V5RED 1 year ago
V5RED
Harry, your last comment is incoherent, please rewrite it in complete sentences.
Posted by harrytruman 1 year ago
harrytruman
I meant one person who stashed a carp load of worthless paper in his closet and considers it "valuable, then every once in a while he takes a paper out and acts like Gollum, and he issues the paper, considered value is a device that allows for trade value to exist, this is generally the rule as we both agree, except in a bubble, which is my point.
Posted by V5RED 1 year ago
V5RED
That still boils down to people considering them valuable. Currency based values are all a psychological device that only works if people accept these values. They make trade easier compared to the old barter systems, but they are imaginary.

If even one person considers a currency valuable, then it has value because you could buy goods and services from that person for that currency.
Posted by harrytruman 1 year ago
harrytruman
But considering a currency valuable even though it isn't accepted anywhere, that doesn't help us much.
Posted by harrytruman 1 year ago
harrytruman
No, the stocks lost value because it was not possible for a bubble to go on forever, trade value is decided by its use, and how much it can be exchanged for, if you mean value as in holding it to be value as opposed to using it in trade then yes, it was because they lost faith.
Posted by V5RED 1 year ago
V5RED
Those stocks were valuable until they were no longer considered valuable. That is how value works for things that get their value from the beliefs of people.

Dollar bills have no intrinsic value except as kindling for a fire. If people suddenly lost faith in them as they did in stocks in the great depression, then dollars would no longer have value except as kindling.
Posted by harrytruman 1 year ago
harrytruman
No, it was a statement phrased like a question smartass,
Posted by Wylted 1 year ago
Wylted
That's not an argument, that's a question. The worst part is the answer to that question, regardless of what the answer is, doesn't support of negate the resolution.
Posted by harrytruman 1 year ago
harrytruman
By no doubt people in 1929 considered stock valuable, did that save them?
Posted by harrytruman 1 year ago
harrytruman
Different side of bit coin debate.
1 votes has been placed for this debate.
Vote Placed by Wylted 1 year ago
Wylted
harrytrumanV5REDTied
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Total points awarded:03 
Reasons for voting decision: Con points out that value is derived from belief that something has value, and enough people believe it that it's used as currency in some locations. Pro fails to respond to this point and only makes bare assertions