Post
Topic
Board Speculation
Re: Long-Term Bulls
by
log0s
on 11/10/2011, 13:18:32 UTC
Why people would sell you something for bitcoin?  Because they believe that later someone will buy that bitcoin from them.

And since a bitcoin is not a directly serviceable good, that is the *only* reason to buy bitcoins.  It's commonly known as the "greater fool theory": http://en.wikipedia.org/wiki/Greater_fool_theory

Isn't it nice to know that the entire "bitcoin economy" is based on everyone expecting to find a greater fool to buy their bitcoins?