Hacker News Reader

Look at it this way: You print 1 billion klapinat0r bills. You're the only one who owns any and they're not backed by any other asset such as gold. What would one of those bills be worth? Why would it be worth anything? Why would there be any demand?

View on HN

That's assumes you are starting from no one having any to one person having them all. If someone had 1 billion in demand for bitcoins it would drive the price up, some would sell hoping to cash out, but others probably more would save seeing this big new interest as a sign of increasing value. You can't count out the sociology and the theater of it. Or other external forces like unstable/untrustworthy national currencies, or the value of relative anonymity.

I'm not saying there is, I'm saying there could be.

Say I owe money in those bills for instance :)

Reply on news.ycombinator.com