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<p>[QUOTE=&quot;medoraman, post: 1794813, member: 26302&quot;]I am not excited about bitcoins because I don&#039;t trust them. Some unknown guy comes up with an algorithm. Somehow he convinces others this somehow produces something of value. Today he holds a large percentage of all bitcoins in &quot;existence&quot;.</p><p>&nbsp;</p><p>Traditionally a currency was backed by something. Gold, silver, copper, or a debt owed by a sovereign nation. Sure, nations have defaulted, wars have happened, etc., but that does not change what a currency is supposed to be.</p><p>&nbsp;</p><p>What underlying asset is behind a bitcoin?</p><p>&nbsp;</p><p>Btw, I was very happy to see the TPG labeling it a token. A coin has to be issued by a sovereign entity to be called a coin. Having said that, if you like them and enjoy them, more power too you. I never question any collector&#039;s habits. I am sure you wouldn&#039;t care for many of my coins.[/QUOTE]</p><p><br /></p>

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