It's based on just as much as any medium of exchange. It's also quite 
convenient to use, especially for international transfers.

Op zaterdag 14 december 2013 17:40:25 UTC+1 schreef Roger Clough:
>
>  The bitcoin is an international speculative cyber-currency
> (based on nothing) that has been inflating rapidly in price. 
> I would be wary of investing in it because it can drop in value
> just as fast as it is rising. It's probably a bubble.
>  
>  
> http://www.youtube.com/watch?v=OHVu626uOGE
>  
>  
>  Dr. Roger B Clough NIST (ret.) [1/1/2000]
> See my Leibniz site at
>  http://independent.academia.edu/RogerClough
>   
>
>
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