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Bitcoin is not an investment scheme. It's a payment system. Unfortunately people are looking at it as an investment scheme. Even if it was an investment scheme
by pelle 13y ago
Bitcoin is not an investment scheme. It's a payment system. Unfortunately people are looking at it as an investment scheme.
Even if it was an investment scheme it hardly fits the definition of a ponzi scheme. In any new investment whether it's a startup or bitcoin the early investors make out better than later investors. That is not the definition of a ponzi scheme.
- jljljl 13y agoThe problem is that the heavily restricted money supply and inherent deflationary pressure built into the currency make it a poor medium of exchange, since they provide an incentive to hoard Bitcoin rather than spend it. Something that is scarce, restricted in future supply, and of high demand will tend to serve as a magnet for speculation.
- deleted 13y ago[deleted]
- DennisP 13y agoAssuming you have dollars that you spend on things, the easy solution it to keep hoarding your bitcoin stash, but also convert dollars to bitcoins just before spending them. Given easy convertibility, bitcoin's deflationary effect is spread over the whole economy, not just bitcoin. So far, bitcoin's not big enough for that to be noticeable.
- deleted 13y ago[deleted]
- bedhead 13y agoIt is not a payment system - effectively no one accepts it as payment. And no one spends bitcoins anyway. There is no medium of exchange here any more than there is for Bedheadcoin. It's not a ponzi scheme, just an amusing bubble.