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I don't understand why people buy into Bitcoin. If I want to be part of an economic scheme where 1% of the people hold 90% of the wealth, I already have the cur
by gtirloni 9y ago
I don't understand why people buy into Bitcoin. If I want to be part of an economic scheme where 1% of the people hold 90% of the wealth, I already have the current global economy for that. I do have a very simplistic understanding of economics but to me Bitcoin seems like all about speculation (so those that bought into it trying to make their "tokens" have any value at the expense of late suckers).
- AznHisoka 9y agoYou just answered your own question - because they want the opportunity to get rich.
- psyc 9y agoThe trading aspect is speculation. It has real value though, for example as a common black market currency.
- WrtCdEvrydy 9y agoBitcoin's price is two parts, one part is the fact that you are owning a digital asset that was guaranteed to be generated by burning power, in the form of electricity, the same way as working for a paycheck while the second part is speculation. I buy Bitcoin when the price is stable and there's no ridiculous bubbles. I sell when the bubbles are one-two weeks in because that's when every Joe Schmuck wants into Bitcoin.