> Pyramid scheme at best, ponzi scheme at worst. Neither: it's just another commodity, like gold. And like gold it has psychological value but questionable us

> Pyramid scheme at best, ponzi scheme at worst. Neither: it's just another commodity, like gold. And like gold it has psychological value but questionable use cases (gold's is mostly jewelry). But, like Beanie Babys or anything else (diamonds), it is "valuable" because people think it is valuable. People assign things to value things, like shiny and non-shiny rocks: * https://en.wikipedia.org/wiki/Rai_stones https://en.wikipedia.org/wiki/Rai_stones and Bitcoin is no different: it's a digital rock.