Quote from: darkangel11 on October 31, 2018, 09:53:14 AM

Quote from: fxsurfer on October 31, 2018, 09:34:06 AM

Quote from: timotron on October 31, 2018, 09:32:34 AM

Hi, very good text about Ponzi scheme!

But I think Bitcoin does not fulfil those attributes.

Bitcoin has a use, more than one.

I disagree with your opinion.

Name just one, please.

I can name a number of them.

A way to transfer value between users cheap, fast, traceable and without a way to charge back, which IMO is great. Let's forget for a moment that at this stage most of us had to buy BTC at exchanges. This is still an early stage, a spot where companies like Apple and Microsoft were in the early 90s. When we reach a point where most people know about BTC and have an ability to receive a payment, it will create huge new opportunities.
You want to bid at an auction overseas and have no local currency, or it's Saturday, or it's a bank holiday, whatever,. You just call them and send BTC. They get it within 10 minutes.

You want to move money from one country to another but your local laws prohibit you from taking a lot of money with you. If you took cash it would get confiscated. If you take a credit card you will have to pay fees. So you take BTC, which has no fees and is impossible to detect. You can move it around in the memory of your smartwatch if you want to.

Your country is financially unstable and you want to store value somewhere. You could buy gold but it's heavy and difficult to carry. It's also undivisable and you can't pay with it. Choose BTC!

You want to gamble, but in your country it's illegal. Fine, but they're also not allowing you to gamble outside the country, which IMO goes against basic human rights. You can always gamble with BTC, which they aren't able to control.

If in your view BTC doesn't have its uses then payment systems like visa, paypal, WU, also don't. BTC gives you full control, which is priceless in today's world.

If I say that iPhone has a use, that mens it is used as communicating device, music player, gaming console, camera, and so on. If I say that Dollar has a use, that mens it is used for fulfilling loan obligations - which is the reason it came into existence in the first place. Passing iPhone or Dollar from hand to hand is not usage but transfer. And transfer is performed via infrastructure that has nothing to do with iPhone or Dollar. If I make a bet and win iPhone or dollars this is also not usage, but transfer of an item from one person to another. Hence transferring, moving or gambling with bitcoin is not the usage of Bitcoin. So, I will ask again: how Bitcoin is used?