4 ms·

https://www.washingtonpost.com/news/wonk/wp/2015/06/08/bitcoin-isnt-the-future-of-money-its-either-a-ponzi-scheme-or-a-pyramid-scheme/ https://www.washingtonpos

• sidko 10y ago
  You'll find a lot of such dismissive articles about Bitcoin throughout its existence. Here's a collection of 'Bitcoin obituaries' if you want to reinforce that view: https://99bitcoins.com/bitcoinobituaries/ https://99bitcoins.com/bitcoinobituaries/
  • chx 10y ago
    It's not an obituary, it's a fact. I am tired of rehearsing how a currency is enforced to be accepted in the issuing country, has a monetary authority etc. Otherwise while theoretically it could be called a currency, that's a thing for dictionary writers, it's just not usable in everyday life therefore anyone pushing for it has a not-entirely-straight agenda. There's no killer app for bitcoin yet and it's hard to even imagine a (legal) one. It's possible future blockchains will be better but so far, this is not.
    • asdfasdfa11112 10y ago
      If you are in the US, what is your opinion on the common prison trope that smokes are money in prisons?
• jron 10y ago
  By that rational, any publicly traded commodity is a ponzi\pyramid scheme. Anything with a finite supply and demand will command a price. The market doesn't care if you dislike the speculative nature of bitcoin; it is simple supply and demand at work. You could make the exact same arguments against gold but that doesn't stop central banks of the world from hording it: https://en.wikipedia.org/wiki/Gold_reserve https://en.wikipedia.org/wiki/Gold_reserve The only differences are 3,500 years of history and... teleportation.