Quote from: franky1 on Today at 03:54:58 AM

Quote from: IadixDev on Today at 03:14:13 AM

I just finished reading the whole thread it was very interesting.

The prediction of the OP was still very good so far that the model would make bitcoin fail as a currency because of the high investibility that would encourage people to hoard it and benefit from it as a pseudo pyramid scheme than using it as a currency.
....
As a viable currency or even a store of value it should behave roughly as a commodity but clearly its not and probably never will.

1. seems you are still unsure of what a pyramid scheme is..
a pyramid scheme is where when something is sold at the end customer. there is a trail of people above that all get a % of that customers funds.
in bitcoin one person has it. one person buys it. its an asset swap not a pyramid,
if i sold my coin today, the person i got my coin from years ago does not get a % of the funds of my sell to a new person
bitcoin is not a pyramid

2. seems you are still unsure of what commodities are..
a commodity is a raw material used to create other products.
and asset is different. an asset holds value by-and-for its own unique features as-is. not its future different product.

bitcoin is bitcoin. its nothing else and does not become anything else. so its an asset. valued on its own merits/features/cost of acquisition

This logic is always moot, its like if i say i will start to hoard rocks, supply and demand the value is subjective someone is going to buy it at 100k. My rocks are like no other rocks. Does it looks like a sound logic to you ?

The fact that this behavior was anticipated this the very beginning, seen by satoshi hal finney and other since the very beginning show that its no different from any other market that existed before since market exists.

Either it takes off as a currency spent to buy good or it dies in the long run, or just become a niche for gamblers and crazy speculators spending their day on trading chart trying to figure when to enter and leave.

And historically all currencies arose from some kind of commodity backing. Its not even the way its used but how its supposed to behave as a market.