Quote from: Artemis3 on January 17, 2020, 03:37:52 PM

Quote from: antikvark on January 16, 2020, 03:24:31 PM

The video explains how Bitcoin turns your ownership into membership, which is exactly how classical fraudulent schemes operate.

What membership? Do you get a gold membership when you buy gold, or an euro membership when you buy ? Schemes need you to bring others to invest, with bitcoin you don't care if your neighbor gets in or not. It would benefit them, but its their problem if they want or not to buy, and bitcoin certainly doesn't care, it does NOT depend in the inflow of money from people buying it.

Bitcoin price is a simple free market result, it is useful enough to the group of people that own it, because they perceive it so, and that's what truly defines value. This can change at anytime and this is what fluctuation reflects. Over a decade, however, it has been gaining.

No, because having a commodity (an actual good) or entitlement to something (non-monetary repayments derived from euro loans) is called ownership. On the other hand, just having a certificate, a card, or a record (paper or digital), without having some actual good or entitlement, is called membership. Of course, the owners of gold and euro can form a club or a community, and name it by the thing they own, but that would just mean they have both the ownership and the membership.

I aggre, Bitcoin price is of simple free market result, but so was the tulip price during the Duch Tulip Mania.

And of course, people don't own Bitcoin. They hold it, as Bitcoin is only a record and not a good or an entitlement.