Post
Topic
Board Bitcoin Discussion
Re: [VIDEO]The Nasty Secret of Bitcoin Exposed
by
DannyHamilton
on 24/01/2020, 16:21:30 UTC
Saying "Bitcoin is a digital gold" is like saying "Bitcoin is a digital car, or digital apple or digital pizza ...". Hence, just playing rhetorical games.

I never said digital gold.  It is you who is playing games.

When you purchase Euro you expect to spend it since you cannot eat it or drink it.

Actually:
https://en.wikipedia.org/wiki/Foreign_exchange_market

Regardless, when you "purchase" Bitcoin (if you aren't trying to profit from the fluctuations in exchange rates) you expect to spend it.

Financial transaction or paying with an instrument is not replying an instrument. I can pay you in bonds, stocks or dollars but bond, stock or dollar issuer is the one who repays these instruments. In bitcoin, its issuers don't repay it, which is why this repayment is possible only from funds of other bitcoin investors. To put it another way. Bitcoin is worthless since all value is brought by new investors. Just like in all ponzi-like schemes.

And there you go once again talking in circles.