Quote from: o_e_l_e_o on February 10, 2018, 10:31:01 PM

The problem with NASDAQ, and all stock markets, is that they are nothing but a Ponzi scheme where people are looking to sell it to the next guy for a higher price. (/s)

Quote from: ManaMan on February 10, 2018, 10:52:37 PM

Quote from: lm2f on February 10, 2018, 10:22:30 PM

The problem with Bit Coin, and all cryptos, is that they are nothing but a Ponzi scheme where people are looking to sell it to the next guy for a higher price.

You are basically saying how markets work - this is how we create value for the fiat currency as well. Bitcoin was made to be a currency and if we will want to use it of course it has to have value tied to it. Because there was no value people started to trade between each other and this is how the market formed itself from the beginning. You can't expect bitcoin to go around markets and be traded because this is how the value is created in the first place.

The USD is backed by a government with a $1 trillion+/yr military that consists of ICBMs, aircraft carriers, stealth bombers, etc. Gold has some limited industrial uses. Equity shares are backed by corporations with current or future expected earnings. What is bit coin backed by?