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Then the stock of any company ever made is a scam because it is run with the intention to profit shareholders, of which early adopters will profit the most.
by gvsteve 15y ago
Then the stock of any company ever made is a scam because it is run with the intention to profit shareholders, of which early adopters will profit the most.
- ohashi 15y agoWell if their business was to sell more company stock, then yes. But generally the company actually produces something of value, not just itself.
- michaelochurch 15y agoCompanies don't pretend their stock is a new, better currency. Companies admit they exist to profit their shareholders.
- jellicle 15y agoA scam as a currency, yes. If FooCorp started trying to convince people to do all their buying and selling using FooCorp shares - of which the FooCorp owners naturally have a great many - then yes, obviously, it would be a scam intended primarily to enrich the FooCorp owners. As a stock, FooCorp might be a perfectly fine investment. Remind me again what the fundamentals for bitcoins are? What are their same store sales for last quarter?
- gvsteve 15y agoThe purpose of my comment was to establish that 'enriches early adopters' is not enough to classify something as a scam. And I don't think anyone is really trying to convince people to do all their buying and selling using Bitcoin. However it may be useful to do some of your buying and selling with Bitcoin. If FooCorp's stock was stable and easily transferrable enough to use as a currency, why would it be a scam to advocate its use as currency? If your answer is only 'because holders profit' then I guess I'll agree to disagree.