/biz/ - Business & Finance

>It is not a ponzi because bitcoins can be earned and spent, not just bought and sold.
That makes no difference for the purpose of this discussion. If you buy a $2000 laptop directly with bitcoin, for financial analysis it is the same as if you had sold the coins for $2000 and bought the laptop with that. It would count as a $2000 cash-out. Similarly if you earn bitcoins by selling a $2000 laptop, or providing a service for which you would otherwise have charged $2000: it would count as a $2000 purchase of bitcoin.

>It is not a ponzi because bitcoins have intrinsic value.
According to this claim, bitcoins are scarce artifacts whose unique properties, like gold's, make them exceptionally good instruments for certain uses, such as payments or store of value.

This objection usually derives from the misconception that a bitcoin is a definite pattern of bits that required a huge amount of energy to produce, and that only a fixed number of them -- 21 million -- can ever be created. And that these properties make bitcoins (or cryptocoin X) more valuable than any other cryptocoin, including any fork from it. But neither of these claims is true.


cont.

Hey guys, Peter here.
Guess what? I met David Spade!

Here’s the rules. Solid altcoins only. Shill one coin each give us your absolute best pick. The coin being shilled should have the potential for ratio gains. I don’t give a fuck about USD pairs. Although we can’t directly prevent pajeets, blacks, and women from posting we can ignore them. My pick is $POLS

tick tock tick tock corecucks