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It may, however, be a pyramid scheme, where early adopters can only profit by getting others to invest at ever-higher prices. History will either record Bitcoi
by patmcc 13y ago
It may, however, be a pyramid scheme, where early adopters can only profit by getting others to invest at ever-higher prices.
History will either record Bitcoin as a currency or a pyramid scheme, and anyone who says they're sure which one it'll be is either a fool or a liar.
- baddox 13y agoYes, but only in the same sense that every currency that has greater face value than the value of its physical ingredients is a pyramid scheme.
- jebblue 13y agoThe US dollar is backed by Americans. A bit coin is backed by who?
- BrokenPipe 13y agoEarthians, gaians, world citizens ;) Including me.
- vbuterin 13y agoBitcoin users. Which is a larger population than that of many countries that have national currencies.
- baddox 13y agoThe phrase "backed by Americans" is very hand-wavy.
- a3voices 13y agoHumans with Internet access
- penguindev 13y ago... and in the same sense that most things humans do are [pyramid] schemes :-)