/biz/ - Business & Finance

>>59559379
>You keep making this straw man that Bitcoin is supposed to be some kind of stock. It's not. It's a commodity.

No, its a value transaction technology that nobody actually uses to transact value. Unlike XMR, BTC isn't bought primarily for its tech, its hoarded because greedy dipshits like you with poor math comprehension think it will magically go up forever and make them millionaires. Its a digital tulip.

>Appreciation comes from people wanting it.

People also wanted tulips and beanie babies, all that demand still couldn't make the math work.

Its really very simple to understand if you have an IQ above room temperature: if the profits of an investment are coming from paying customers exchanging cash for materials, goods or services, the math works - evermore customers buying evermore materials, goods or services = ever greater profits.

However, if the profits of an investment are coming from other investors, the math cannot work since ALL investors in the equation expect to take out more than they put in, necessitating endless exponential investor recruitment with endless exponential cash injection. Or put simply: it is mathematically impossible for every investors to walk away with more than they started with and given the zero-sum nature of the scheme, most investors will end up losing EVERYTHING they put in.

TL;DR: if profits are coming from non-investors, you're good. If profits are coming from other investors, you're in a ponzi scheme that is mathematically guaranteed to implode.


>By your definition gold is a ponzi since the vast majority of its price action is due to investment. People hoarding for future profit.

lol gold has advantageous aesthetic and material properties that make it compelling to non-investors, if 100% of gold investors disappeared overnight, there would still be substantial demand for gold. If 100% of BTC investors disappeared overnight, there would be no more demand for BTC

Still a glorified ponzi token.