Quote from: TKeenan on December 27, 2016, 07:10:41 PM

Quote from: disconnectme on December 27, 2016, 06:52:02 PM

investment of over $14 billion

See, that is the problem right there. Many people here are very unsophisticated. They can't discern the difference between '$14 Billion investment' and '$14 Billion valuation'.

Because these very stupid people can't understand these very different concepts, they just keep on buying, and buying. Thus, we have a 'natural Ponzi scheme'. Bitcoin offers no utility nor function to anyone. It is simply a 'buy and hope' speculator's tool. There is no revenue. There are no earnings. It is just a more inflated 'market cap' day after day. A total Ponzi scheme.

Not only here, but in the wild outside BitcoinTalk. With the exception of only three, at most, everybody I've spoke with about Bitcoin over the past years weren't even aware of this forum, let alone know what they're talking about. Case in post re the latter, I struck up a convo with a poker dealer in Laughlin the other day, thanks to me PROUDLY donning my KNC Miner tee Roll Eyes

. He stated that he just purchased $500 worth of BTC during the recent runup because he had learnt about Bitcoin on one of them Forex-esque sites that he's a member of. He felt like Bitcoin is a secure investment because (slightly paraphrased -->) the blockchain only made - past tense - a hundred million bitcoins (oppose to never exceeding 21M BTC way, way, way down the road). At $500, he wasn't even able to purchase a full bitcoin, yet his intent is to sell soon when the exchange rate reaches $1,200 per.

In essence, most folks don't have a clue about Bitcoin et al., let alone possessing rudimentary knowledge of handling their everyday fiat-based financials. I'm sure you, like myself, have heard many people claim to be an expert in something that we're versed in, but prior to them ending the very first sentence outta their pie holes, we quickly realize that they don't have a fuckin' clue about the subject matter.

Quote from: needyou on December 27, 2016, 07:45:59 PM

Bitcoin doesn't even have that much adoption from large companies yet, and still we see that bitcoin popularity is rising even further. It's true that bitcoin is only starting out it's huge success.

Akin to the price of gold going up when overall the demand for the actual precious is considerably down thanks to myriad trading platforms in which it's traded, e.g. Ratecoin going up and down in price on exchanges when there's [virtually] no real-world usage, let alone purpose for said shitcoin.