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Treating bitcoin as a currency is kind of wrong. It's a commodity with limited and predictable supply, like gold for example. You wouldn't call it a pyramid sch
by ignifero 15y ago
Treating bitcoin as a currency is kind of wrong. It's a commodity with limited and predictable supply, like gold for example. You wouldn't call it a pyramid scheme, just like you wouldn't the gold market a pyramid scheme. His points against its use as currency are sound.
- paulgb 15y agoIt's a commodity designed to only be useful as a unit of trade. How does this differ from a fiat currency?
- ignifero 15y agoBy definition fiat currency relies on governent regulation (and an internet protocol cannot be considered representative government, unless you create a committee to oversee the protocol, in which case we're back where we started).