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BTC is great, you can't say there is no social value. Not only are people getting rich like you say but its also useful for stuff like buying drugs online and t
by rb808 9y ago
BTC is great, you can't say there is no social value. Not only are people getting rich like you say but its also useful for stuff like buying drugs online and to get around pesky government money laundering regulations.
- AndrewBissell 9y agoOr donating to organizations to which your government has severed other payment channels because they find them inconvenient. Or escaping bail-ins and bank holidays. Or skipping out on central bank attempts to force consumption and punish savings with negative interest rates and cash bans.
- TylerE 9y agoWealth isn't being created. For every person getting rich there's someone else buying in at the current price which is.... euphoric for a "digital commodity" with no inherent value.
- Frogolocalypse 9y agoThe same logic could be applied to any forex purchase.
- TylerE 9y agoSo? Forex is gambling.
- Frogolocalypse 9y agowhat you call gambling other people call liquidity.
- ahartman00 9y ago"The greater fool theory is the theory that states it is possible to make money by buying securities, whether overvalued or not, and later selling them at a profit because there will always be someone (a bigger or greater fool) who is willing to pay the higher price" http://www.investopedia.com/terms/g/greaterfooltheory.asp http://www.investopedia.com/terms/g/greaterfooltheory.asp