Quote from: drakahn on January 19, 2013, 06:18:11 AM

Quote from: HBBZ on January 19, 2013, 06:05:23 AM

i do know what is speculation and what is a ponzi scheme and what is pyramid scheme.

Let's say, a miner has 100 k bitcoins, he sells 50 k for profit, he never buys anything with bitcoin, that's not a problem, it's his freedom perfectly. But if he tells people everywhere that bitcoin is the currency of the future, he's a disgusting liar and ponzi scammer. Does that sound reasonable? and if a substantial percentage of bitcoiners are this type of person, bitcoin is doomed and held victim of a ponzi scheme.

No...

If he has sold 50K bitcoins he has used those coins to buy USD, So it is impossible to both sell coins and not buy anything

People who save their coins mean someone else can get a good price for selling coins
People who sell their coins mean someone else can get a good price for buying coins
People who buy things other than USD with their coins mean someone else has a chance to save, sell or buy things with

all types are good

I also figured that out. hoarding bitcoin is not a big deal thanks to the fact that a bitcoin can be divided more than a million times. The moment a hoarder dumps his bitcoins, the price of bitcoin drops accordingly. The profitability of hoarding bitcoins can be compared to interest rate, no more, no less. If bitcoin fails, hoarders lose everything. So bitcoiners are in the same boat Wink