his loss

he is certainly on the right track in many respects, but I used to tune in his show on the shortwave and have heard some straight up ignorant shit from him also

Bit coins have no intrinsic value. Since you can divide each "coin" into 10 million smaller units, the total supply is zillions. They are not scare. Dividing bit coins is not like dividing gold coins. Two half-ounce gold coins have half the gold as a one-ounce coin. That is because each half ounce coin contains half the intrinsic value of a full ounce coin. Break a bit coin in half, and each half is basically identical to the whole. Since a bit coin has an intrinsic value of zero, half of zero is still zero. Put it this way, if they sold bit coins in bundles of 10 million, where the individual coins could not be subdivided, and the maximum quantity of those 10 million dollar bundles was 21 million, would anyone claim that bit coins were scarce? This is a ponzi scheme pure and simply and the reaction on this board from those participating in it merely provides more evidence to prove my point.