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So are pokemon cards a ponzi scheme? Stamp collecting? Gold? Paintings?

arcticbull 5y ago
> Gold. Gold is a commodity with intrinsic value. It is an input into electronics manufacturing - in fact, you'd have a hard time making Bitcoin miners without it. It's also shiny and people like it, which adds to the demand. Folks are speculating on future commodity value. I don't think it's a good investment, but that's just me. > Pokemon Cards, Stamps? No, those are unique non-fungible items. Much closer to NFTs than BTC. There is no central entity extracting value by increasing the supply of these items, as each item is unique or at least fixed in supply.
- mattwilsonn888 5y ago
  Gold is not traded on its commodity value. Its been traded for thousands of years because it is durable and difficult to produce. People who believe in Bitcoin compromised some sheen to make those two most important attributes tenfold more potent.
  - arcticbull 5y ago
    > Gold is not traded on its commodity value. I understand that, but it has commodity value. > Its been traded for thousands of years because it is durable and difficult to produce. People who believe in Bitcoin compromised some sheen to make those two most important attributes tenfold more potent. Nah, they got suckered into a Ponzi scheme.
    - mattwilsonn888 5y ago
      No, you do not understand. Bitcoin simply is more durable and difficult to produce than gold. If that's not what you value then fair enough, but don't go around stating your opinion as fact unless you want to be guilty of what you accuse others of doing.
      - arcticbull 5y ago
        > No, you do not understand. Bitcoin simply is more durable and difficult to produce than gold. That's got nothing to do with its price. Nothing is more difficult for someone else to produce than the hair on my head, but that's worthless.
        mattwilsonn888 5y ago
        But the security of the network does have to do with the price - directly. Its not something you brought up so I didn't mention it, but now that you resort to it you should know the ABC's of Bitcoin: price is proportional to network security. I'm glad I could argue you down all the way to learn the basics.

> Gold. Gold is a commodity with intrinsic value. It is an input into electronics manufacturing - in fact, you'd have a hard time making Bitcoin miners without it. It's also shiny and people like it, which adds to the demand. Folks are speculating on future commodity value. I don't think it's a good investment, but that's just me. > Pokemon Cards, Stamps? No, those are unique non-fungible items. Much closer to NFTs than BTC. There is no central entity extracting value by increasing the supply of these items, as each item is unique or at least fixed in supply.

mattwilsonn888 5y ago
Gold is not traded on its commodity value. Its been traded for thousands of years because it is durable and difficult to produce. People who believe in Bitcoin compromised some sheen to make those two most important attributes tenfold more potent.
- arcticbull 5y ago
  > Gold is not traded on its commodity value. I understand that, but it has commodity value. > Its been traded for thousands of years because it is durable and difficult to produce. People who believe in Bitcoin compromised some sheen to make those two most important attributes tenfold more potent. Nah, they got suckered into a Ponzi scheme.
  - mattwilsonn888 5y ago
    No, you do not understand. Bitcoin simply is more durable and difficult to produce than gold. If that's not what you value then fair enough, but don't go around stating your opinion as fact unless you want to be guilty of what you accuse others of doing.
    - arcticbull 5y ago
      > No, you do not understand. Bitcoin simply is more durable and difficult to produce than gold. That's got nothing to do with its price. Nothing is more difficult for someone else to produce than the hair on my head, but that's worthless.
      - mattwilsonn888 5y ago
        But the security of the network does have to do with the price - directly. Its not something you brought up so I didn't mention it, but now that you resort to it you should know the ABC's of Bitcoin: price is proportional to network security. I'm glad I could argue you down all the way to learn the basics.