Nina wrote:B has invested a little bit in a couple (bitcoin, think ethereal too), but isn't very good at it. For some reason he sold his bitcoins the day before their value shot up a few weeks ago. Colleague of him has added a couple of zeros to his bitcoin investment, he was there when they started and didn't lose them. Or sell them.
LesterUnlimited wrote:I'm not sure how it would work as a Ponzi scheme. It's not like you can just disappear with everyone's Bitcoins.
GooberTheHat wrote:It's the inherent value, it has none. It's only value is the demand it has. If that demand ever dissipates then the value will plummet. Now that's not massively different to standard currency, but there is faith that someone (the government) will do something (prop it up) if a trad currency starts to go down the pan.LesterUnlimited wrote:I'm not sure how it would work as a Ponzi scheme. It's not like you can just disappear with everyone's Bitcoins.
GooberTheHat wrote:But gold has inherent value. It has uses other than just a hoarder of wealth. Until we find a golden asteroid and mine the fuck out of it gold will be valuable due to its qualities and rarity. I'm not sure you can say that about bitcoin.
GooberTheHat wrote:But only if the could spend it. I'm not sure you can do that down at the local fish market. They could have have transferred their money to dollars or gold and have been equally protected from inflation.
legaldinho wrote:Gold is made in like 1% of stars. It's scarcity is coded into our physics. Bitcoin just imitates it, doesn't become it.
LesterUnlimited wrote:legaldinho wrote:Gold is made in like 1% of stars. It's scarcity is coded into our physics. Bitcoin just imitates it, doesn't become it.
So then mathematically there's more potential supply of gold available than Bitcoin.
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