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It has no intrinsic value. It gets its valuation by trade agreement between individual parties, and it is priced by the most recent trade. (Like gold which is also basically useless.)
A currency is different because it is mandated by a government for the payment of taxes and gets its value because other individuals wish to acquire it in order to pay their taxes.
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I don't necessarily agree that gold is basically useless because it has uses, especially, in electronics. It may become more and more useless as material science advances and it is replaced with other exotic substances.
But that is besides the point.
I am still having a hard time wrapping my head around BitCoins. My interest is from a FX trade perspective.
I know from watching the charts that it is a volatile currency, with the potential to win or lose big by trading it. I just don't have a good idea about what makes it move in either direction and there isn't enough historical data to try to make sense of trends yet.
Thanks for the information.
The report of my death was an exaggeration - Mark Twain
Simply Elegant Designs JimmyRopes Designs
I'm on-line therefore I am.
JimmyRopes
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I think the best explanation of the way that a currency unit is in fact a tradable obligation rather than an asset with intrinsic worth is in Debt - The first 5000 years[^].
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Thanks for the link.
The report of my death was an exaggeration - Mark Twain
Simply Elegant Designs JimmyRopes Designs
I'm on-line therefore I am.
JimmyRopes
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There is a product called Fun Size Mars Bars.
They are much smaller than normal Mars Bars.
Where is the fun in that?
Example[^]
THIS is a fun size Mars Bar![^]
---------------------------------
Obscurum per obscurius.
Ad astra per alas porci.
Quidquid latine dictum sit, altum videtur .
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Looks like the size for you. 
The report of my death was an exaggeration - Mark Twain
Simply Elegant Designs JimmyRopes Designs
I'm on-line therefore I am.
JimmyRopes
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They are saying the standard size ones aren't fun at all
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Well the great Murray Walker is on DID and his very first track was none other than The Chain. He said he always felt himself pumped up when he heard it as it signalled the start of his fun.
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Do you know he invented "A Mars a Day helps you work rest and play"?
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Obscurum per obscurius.
Ad astra per alas porci.
Quidquid latine dictum sit, altum videtur .
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No he didn't, he managed the account but didn't come up with the line. He did however come up with "Trill makes budgies bounce with health" and "Opal Fruits, made to make your mouth water."
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Bhopal Gas, Made to make your eyes water
---------------------------------
Obscurum per obscurius.
Ad astra per alas porci.
Quidquid latine dictum sit, altum videtur .
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"Supporters with unfeeling heart? That's old news!"(4,7)
Not so hard for the frazzled Friday brains.
---------------------------------
Obscurum per obscurius.
Ad astra per alas porci.
Quidquid latine dictum sit, altum videtur .
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Is this the correct answer?
If yes, how do you solve it every time?? 
.:>GSN<:.
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Yes
Magic
modified 22-Mar-14 3:19am.
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I just saw the thread "CCC I Win!" 
nice explanation by OG! 
.:>GSN<:.
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1. Know what you want. Clarity is power. And vague goals promote vague results.
2. Remember that every problem has a solution. Maybe you just can't see it. Yet.
3. In this Age of Dramatic Distraction, the performer who focuses the best wins the most.
4. The 2-minute rule: if you can do something (like replying to an email, or a house chore) in 2 minutes, do it now. Planning it for later, remembering it, doing it in the future will take 5 minutes or more.
5. Before someone will help you, you need to help them.
6. Know more about your craft/the work you do than anyone who has ever done the work you do... in the history of the world.
7. Devote yourself to learning something new about your field of mastery every day. Success belongs to the relentless learners. Because as you know more, you can achieve more.
8. Remember that when you transform your fitness, you'll transform your business.
9. Don't check your mobile when you're meeting with another person. It's rude. And rude people don't reach world-class.
10. Every time you do what scares you, you take back the power that you gave to the thing that scared you. And so you become more powerful.
11. A problem is only a problem if you make the choice to see it as a problem.
12. Stop being a victim. Your business and personal life was made by you. No one else is responsible. To make it better, make better choices. And new decisions.
13. You can lead without a title. Don't wait to get a position to stand for excellence, peak quality and overdelivery on every expectation.
14. As you become more successful, stay really hungry. Nothing fails like success. Because when you're successful, it's easy to stop outlearning + outOverDelivering + outexecuting everyone around you. (Success is Beautiful. And dangerous).
15. If you're not overprepared, you're underprepared.
16. The only level of great manners to play at is "Exceedingly Polite". In our world, this alone will make you a standout. And differentiate you in your marketplace.
17. Remember that the moment you think you're a Master, you lose your Mastery. And the minute you think you know everything, you know nothing.
18. You don't get lucky. You create lucky.
19. Smile. And remember to inform your face.
20. Spend time in solitude every day. Your best ideas live there.
21. If you're not being criticized a lot, you're not doing very much. Ridicule is the price of ambition.
22. Food fuels your body. Learning feeds your mind.
23. Please don't confuse activity with productivity. Many people are simply busy being busy.
24. Don't ask for respect. Earn it.
25. Remember that the bigger the goal, the stronger a person you must become to achieve that goal. So goal-achieving is a superb practice for character-building.
26. Know that if it's not messy, you're not making progress.
27. Protect your good name. It's your best asset.
28. Start your own business as young as possible. Even if it's a lemonade stand, it will teach you business lessons you'll use for the rest of your life.
29. You would rather say that you tried and failed, than live a life of regret. You miss every shot you don't take.
30. Join clubs and put yourself in as many different social settings as possible. It will help you understand people and make you a better communicator.
31. If you're going to fail, fail fast and make it public. Don't drag it on. Then pick yourself back up. Knowing that others watched you fail will encourage you to prove them wrong.
32. Surround yourself with people way smarter than you. That is the only way you will be challenged to grow.
33. Only those who are with you during the struggles deserve to be with you when you celebrate the successes.
34. Pick and choose your battles carefully. There are only 24 hours in a day. If something isn't worth your time, just say no...
35. True friends will never question why you disappeared off the face of the earth. They will be there for you unconditionally.
36. A dream job does not exist. You have to create it.
37. Travel as much as you can. You will come back with a wider perspective of the world and more ideas on how to change it.
38. "Thank You" - the most powerful two words in the English dictionary.
39. When you lose, don't lose the lesson.
40. Don't let a little dispute injure a great friendship.
41. Live a good, honorable life. Then when you get older and think back, you'll be able to enjoy it a second time.
42. In disagreements with loved ones, deal only with the current situation. Don't bring up the past.
43. Be gentle with the earth.
44. Successful people listen. You have two ears and one mouth. Use them in that ratio. You learn more when you listen than when you talk.
45. You've got to give trust to get trust. Treat people as you would want to be treated. Sometimes people take advantage of you. That's fine, don't do business with them again.
46. Sleep, food and exercise can help you triple your outcome, because they increase focus, motivation and energy levels.
47. The best anti-aging remedy in the world is working really hard.
48. Learn that great love and great achievements involve great risk. Risk is involved in every great opportunity in life. It it isn't risky, then everyone would be doing it, thus making it ordinary and not "great." Separate yourself from the crowd as one who not only can take risks, but enjoys doing so.
49. Always give more than is required of you. The marketplace rewards generosity.
50. You have the power to change the world—one brave act and one person at a time.
Please use it.
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Errr... You took that sentimental pill this morning, didn't you? 
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I know for sure I forgot to take my anti-barf pill...
Anything that is unrelated to elephants is irrelephant
Anonymous
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The problem with quotes on the internet is that you can never tell if they're genuine
Winston Churchill, 1944
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I'd just like a chance to prove that money can't make me happy.
Me, all the time
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Poor kitten, stumbling upon the hyenas of cynism.
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I think step 5 might lead to a deadlock.
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I assume these thoughts are a consequence of a surge of endorphins in your mind during the first sweet month of marriage; you may need this as an antidote ... when you're ready:Quote: “How we live is so different from how we ought to live that he who studies what ought to be done rather than what is done will learn the way to his downfall rather than to his preservation.”
― Niccolò Machiavelli, The Prince
“The best hope is that one of these days the Ground will get disgusted enough just to walk away ~ leaving people with nothing more to stand ON than what they have so bloody well stood FOR up to now.” Kenneth Patchen, Poet
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whatever...! I am interested in what your recent and influential friend say about 'the philosophy of life'. 
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Kazakhstan best Philosophy!
I will never again mention that Dalek Dave was the poster of the One Millionth Lounge Post, nor that it was complete drivel.
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Hah, remember that Niccolò Machiavelli was fired from his position, wrote a book called the Prince on how to govern, but didnt work in politics again. Also funny that he was best know for works that is forgotten today...
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