Value of financial instruments(records on digital, paper, plastic or metal medium) comes from payments that their issuers provide to their holders. Fiat currencies, the same as bonds, stocks, CFD-s, futures, options, ... are records whose issuers provide various types of payments to their holders during the circulation of these instruments, or at their maturity, liquidation or withdrawal from circulation. Dollars for example are liquidated or withdrawn from circulation at loan payments. Bitcoin on the other hand is a record whose issuers never pay anything to its holders, nor is Bitcon ever liquidated or withdrawn from circulation by these issuers. Bitcoin is therefore a worthless record in an infinite circulation, that operates the same as ponzi-like scheme, since its holders can be paid only from funds of new investors. Even a $100 poker chip is more valuable than all bitcoins in the world, since issuer of this chip pays an equivalent amount of cash for it, while Bitcon issuers pay nothing.