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Calling a 'Ponzi Scheme' it's just too simple or judgmental IMO, but despite the articles flaws, finally someone started questioning "What's backing all that mo
by talles 13y ago
Calling a 'Ponzi Scheme' it's just too simple or judgmental IMO, but despite the articles flaws, finally someone started questioning "What's backing all that money?".
Our real money is created out of thin air, backed by nothing for a long time. There is a lot of fantasy and conspiracy theories behind it, but it is a problem in the end of the day. When the money started to be electronic things got even harder to find out what exactly is backing up that money value. Humongous amount simply floats from bank to bank.
While with the existing money is difficult to get to it's primary root of source, with bitcoin this applies pretty much to every penny going around. In theory it's beautiful, but it's an utopia.