Bitcoin: the World's first decentralised Ponzi scheme

That's more than a safe bet, Just listen to ye ol' Einstein "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former."
 
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Nighthawk said:
Let's try to explain, in simple terms, why Bitcoin and other digital pseudo-currencies will fail.
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Let's try to explain, in simple terms, why Bitcoin will not fail. The world's leading economies are built on an never ending increase in debt, ie printing more money. Talk about Ponzi? The world's economic system is a house of cards primed to fall. Is this a Ponzi scheme that you would rather trust? Bitcoin has already been accepted world wide as a store of value with a known limited supply and has done what it has done with just a small fraction of the world's population participating.

Call it nothing but computer bytes if you want but people are beginning to see it as digital gold, but more easily securely stored, more divisible, and more transferable than gold.
 
Illini Trader said:
The world's leading economies are built on an never ending increase in debt, ie printing more money.
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The world's leading crypto currencies on the net are built on never ending increase in new cryptos, aka mining more coins.

See? It cuts both ways... :)
 
Nighthawk said:
If a currency doesn't have some intrinsic value relative to real-world assets or liabilities, then even if you can wire it around the world in minutes, it's value will fluctuate based on the willingness of others to take it off your hands and nothing else.
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Oh, you meant Bitcoin - thought you were talking about the US Dollar.
 
Pekelo said:
The world's leading crypto currencies on the net are built on never ending increase in new cryptos, aka mining more coins.

See? It cuts both ways... :)
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If bitcoin adopts the best features of the new cryptos then the new coins will not catch on. Bitcoin will remain deflationary.
 
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