posted on Apr, 10 2012 @ 02:36 AM
Originally posted by mayabong
Originally posted by Razimus
it looks like a pyramid scheme to me, one pretending to be something innocent, which is the same thing every good pyramid scheme does.
Comparing it to a pyramid scheme is something most people do before they understand how it works. Its not like everyone is just buying them, holding
them and waiting for more people to join. Sure some people are, but there are also people using it to transfer wealth from one person to another.
People use them to pay for things...
The only thing adding value to the Bitcoin market is the mutual agreement to use it as a currency, and a negotiated price worth based on bidding.
Datamining for Bitcoin will die eventually, and could basically make it impossible to reach it's limit with any financial gain.
Is Bitcoin the end of modern capitalism? No, It's the Linux vs. Windows of Economics.
Is this, and many other open source applications like it, the beggining of a new trend? Absolutely.
Investing, purchasing or getting 1 or 2 Bitcoins today could be worth a fortune if the market caps out. If people hang on to a few and demand raises,
or the market hits deflation, the current value ($4.85) could be worth $485, if the average trades are in the 6th or 7th decimal place.
It's not a bad mid term investment. A few surveys and a little online work today could pay off well in 4 years from now.
Max Kieser made a good point about iPhones and Guns. People either want the power of knowledge or the power of having a gun, they are both hot selling
products. Bitcoin is the currency of iPhone users. Gold is the currency of gun owners.