Rickards: ‘Bitcoin is a Ponzi Scheme’

Rickards? Isn't he a bit of a gold-fetishist and anti-global bear? Funny that this comes from him... he's correct though.... but still funny.
 
It's very simple. As long as the people accept bitcoin as a currency, then it will. It could be anything, even a banana. As long as the people agree to it, then it is.
 
I'm hearing guesses that the cryptocurrency market will be worth $1 trillion in 2018!!
I guess everyone thinks there is no such things as bubbles anymore. You just buy any asset class you want and make risk free money.... whether real estate, stocks, buying a franchise, art work, classic cars, flipping houses and virtual currency you name it and it goes straight up with zero risk.... Just keep buying and buying.... especially those made up out of thin air Virtual currencies....those should just keep going up especially bitcoin hahahah.....this entire world is in one big asset bubble!!! The biggest in history but no one is taking note of it.....
 
carrer said:
It's very simple. As long as the people accept bitcoin as a currency, then it will. It could be anything, even a banana. As long as the people agree to it, then it is.
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Come to think of it, so are gold, sea shells, tulips....
 
ironchef said:
Come to think of it, so are gold, sea shells, tulips....
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Add diamonds to that list. Thats a real scam if yo ask me. At least with bitcoin you have a choice weather you want to buy one or not, diamonds are pretty much forced on us by society. How about art ? Some of it I could never understand, but yet people pay $100M for some paintings. And finally US Dollar what is it if you really think about it ? A note backed by full faith and credit” of the U.S. Government" and $20T of debt. What a hell is a full faith and credit of US Government ?

All I am saying there are crazier things out there, not sure why everyone is going crazy about bitcoin.
 
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