Was not expecting to see Street-Fighter’s-Guile-as-a-magician quoted in this comment section… or at all really. He’s come a long way since Scam School, I guess.
That is true, but Bitcoin, like all other crypto"currencies", is a Ponzi scheme. Its value is driven purely by speculation, and the hope that it can be passed on to a “greater fool” for profit. This is true for a lot of financial assets, by the way.
To quote Brian Brushwood, “It’s just pieces of paper that we believe in.”
Was not expecting to see Street-Fighter’s-Guile-as-a-magician quoted in this comment section… or at all really. He’s come a long way since Scam School, I guess.
U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion
The reason that you and everyone else believe in it is primarily because you need it to pay taxes, so the belief is not arbitrary.
You don’t need Bitcoin to pay taxes, yet belief in it continues to grow.
That is true, but Bitcoin, like all other crypto"currencies", is a Ponzi scheme. Its value is driven purely by speculation, and the hope that it can be passed on to a “greater fool” for profit. This is true for a lot of financial assets, by the way.
You don’t think secure time stamps are useful?
Thinking of how I got here, reductively speaking:
I agree, but that leads to an infinite regress of your parents observering their parents, etc. My argument is really about the start of this chain.
Ah I see!
Convenience ought to have helped too! Though yes when the person with that monopoly on violence thing asks, you do.