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Old 01-03-2014, 07:13 PM   #839
Member#: 221885
Join Date: Aug 2009
Chapter/Region: NWIC
Location: Portlandia
2050 Ivory Tower


Originally Posted by masskillingspree View Post
Weird. I don't know how that happened. Link is fix0red now.
Works now. Pretty funny.

So, as for the contention of some that bitcoin is not a fiat currency, with other new systems coming online it seems that it would be difficult to define it as a currency at all, it seems more like a gambling system with a bit of ponzi scheme feel thrown in for laughs.

This whole idea that you can crack an equation and while no one is paying for that, but it is somehow has intrinsic value that is determined by 'the market' seem at it's heart a ridiculous proposition. Commodity speculation without a real commodity of some kind.

At least with the tulip mania and beanie babies you had something tangible if grossly overvalued. It dose not seem to me that there is any other possible fate for bitcoin than to become an object lesson is irrational speculation and eventual a punchline.

I am open to rational counterargument here.
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