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Of course the resources are rare. Each cryptocoin is unique to the network that backs it. The network is more than the open source software of the clients. It's

Of course the resources are rare. Each cryptocoin is unique to the network that backs it. The network is more than the open source software of the clients. It's also the blockchain itself, which is made more difficult to reverse through proof of work, and the userbase that uses the network/blockchain to transact value. Something being cheap at first, and then becoming more expensive as demand for it increases, doesn't make it a ponzi scheme. By such a definition, any stock that saw its value increase would be a ponzi scheme. The assertion of it being a ponzi scheme is pure ignorance at best, and at worse, intentional deception and defamation.

nosuchthing 9y ago
For historical context: June 12, 2010, 08:14:44 PM This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it because the 2 pizzas are only about 25 dollars total, maybe 30 if you give the guy a nice tip. If you get me the upgraded extra large ones or something, I can throw in some more bitcoins, just let me know and we'll work something out. My 1 year old daughter really enjoys pizza too! She just smears it all over her face if you give her a whole slice, but she does eventually manage to get most of it in her mouth (minus a few loose toppings of course). If you pay actual money for bitcoins to people who've generated thousands of coins for running a piece of software circa 2010, then you've really earned your "investment" into the pyramid of blockchain hype ;) Source: https://bitcointalk.org/index.php?topic=137.msg1195#msg1195 https://bitcointalk.org/index.php?topic=137.msg1195#msg1195
- Jabanga 9y ago
  It's called appreciation. It has happened to numerous assets. The definition of good investing is buying low and selling high. You're implying that something that produces investment returns beyond a amount is a ponzi scheme, which is absurd, and transparently so. You and I both know cryptocurrency doesn't meet the definition of a ponzi scheme. The only question is what's motivating you to make these false representations.

nosuchthing 9y ago

For historical context: June 12, 2010, 08:14:44 PM This is an open offer by the way.. I will trade 10,000 BTC for 2 of these pizzas any time as long as I have the funds (I usually have plenty). If anyone is interested please let me know. The exchange is favorable for anyone who does it because the 2 pizzas are only about 25 dollars total, maybe 30 if you give the guy a nice tip. If you get me the upgraded extra large ones or something, I can throw in some more bitcoins, just let me know and we'll work something out. My 1 year old daughter really enjoys pizza too! She just smears it all over her face if you give her a whole slice, but she does eventually manage to get most of it in her mouth (minus a few loose toppings of course). If you pay actual money for bitcoins to people who've generated thousands of coins for running a piece of software circa 2010, then you've really earned your "investment" into the pyramid of blockchain hype ;) Source: https://bitcointalk.org/index.php?topic=137.msg1195#msg1195 https://bitcointalk.org/index.php?topic=137.msg1195#msg1195

Jabanga 9y ago
It's called appreciation. It has happened to numerous assets. The definition of good investing is buying low and selling high. You're implying that something that produces investment returns beyond a amount is a ponzi scheme, which is absurd, and transparently so. You and I both know cryptocurrency doesn't meet the definition of a ponzi scheme. The only question is what's motivating you to make these false representations.