Nagle, how do you feel about Gold? It doesnt pay any dividend either, and its industrial and economic use is very limited.
Is this a pyramid scheme as well?
I like your answer. It's funny how Chodpabas answer is very similar to yours, yet yours doesn't get disputet at all, while the thread unwinds to discuss Chodpabas answer at length.
It's because, well, who would dispute the value of gold? It's had value for thousands of years, yet is suffers some of the same "problems" bitcoin "suffers" from.
I've been pointing out that bitcoin is more like gold than like a currency (or, god beware, bank notes) since I first got in touch with bitcoin in early 2011. That sentiment doesn't resonate much for some reason and people just go on to discuss money, investement, economics,... probably a good thing.
If I can buy a ring of bitcoin, and propose to my girlfriend with it, then bitcoin is like gold. If I can't, then your argument fails.