Bitcoin and Intrinsic Value: a Layman’s Response to Alan Greenspan

“Once upon a time, at the end of the last millennium, I founded and led the first games company to sell virtual goods or virtual currency for real money.  We sold (and still sell) ‘credits’ – virtual currency that is bought for real money, which players can use to buy other things in our games.  When I first started selling credits, a lot of people, including almost everyone in the games industry who was aware of what we were doing, thought it was ridiculous. The general criticism was along the lines of: ‘Why would someone pay real money for a fake sword?’  16 years later, people are still buying these credits, and they’re even used to pay other people for third-party services around our games.”

http://www.coindesk.com/bitcoin-intrinsic-value-alan-greenspan/

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