⭐ Merited by bones261 (1)
Bitcoin on the other hand has no such utilizable capacity - it cannot be used, which is why it can only be transferred - i.e. passed from address-to-address, from hand-to-hand, from member-to-member. In other words, in the bitcoin circulation chain, nobody is able use bitcoin, like in the case of dollars, goods, services and similar utilizable resources..., which is why such resources can be obtained from new investors only. And this is the definition of a classical ponzi or pyramid scheme.
You state that dollars can be "used". How exactly can you "use" a dollar? If I walk to the local cafe and buy a cup of coffee, is my dollar consumed and used up, like a piece of bread? No, it was an exchange, or a "transfer", as you call it, and in exchange I got my cup of coffee. If a big investment bank is collecting billions of dollars each year, are they "using" the dollars, or only facilitating the "transfer" of many dollars into their accounts?Frankly speaking, if I can use my bitcoins to purchase goods and services (which I CAN do, albeit a currently limited selection, limited to those willing to do business with bitcoins and/or exchange services for bitcoins), then I would consider this "using" bitcoins as much as you can "use" a dollar, by your own definition.
Furthermore, "new investors" are certainly NOT the only way to obtain bitcoins. You can mine bitcoins, and sure, you pay more in electricity than what you obtain, but you are still obtaining NEW bitcoin that is NOT from new investors. Thereby defeating your definition. I think there are several large holes in your arguments. Still, thank you for provoking the discussion
