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Bernie Madoff operated his "game of musical chairs" for over twice that period of time. If age is the only argument you have to justify Bitcoin's value, we stil
by slg 6y ago
Bernie Madoff operated his "game of musical chairs" for over twice that period of time. If age is the only argument you have to justify Bitcoin's value, we still have a while to go.
- gruez 6y agoIt's much easier to pull off a scam if have total control over it. Is there some mastermind behind the bitcoin scam?
- slg 6y agoCalling Bitcoin a "game of musical chairs" doesn't necessarily imply it is a scam. It simply implies that the music will eventually stop and leave someone with huge loses. There doesn't need to be a mastermind behind that. The length of time the music has been playing shouldn't be any solace to anyone participating if they can't come up with other legitimate reasons why a $20k value is valid.
- silentsea90 6y agoThere isn't a dearth of information online on why the value is valid. Can you present what you find unconvincing?
- slg 6y agoI'm not making any judgement one way or another on whether the value is valid. I am simply calling out a bad argument that supports that the value is valid. The comment I originally replied was basically saying we know it has real value because people have valued it for a decade. That isn't a convincing reason.
- silentsea90 6y agoTrue, the decade argument isn't fool proof. For non mathematically provable problems (is X a scam? as opposed to 1+1==2?), I find it easier to reason on the basis of ML like features with their respective weights. The longevity of sustained BTC valuation is just one feature here, not sufficient on its own.