I don't care if it's blockchain or smoke signal based. A ponzi is a ponzi and they all collapse eventually when the greater fool bagholders dry up.
Well, you're in good company!
I understand quite well that the blockchain is just a string of numbers and has no inherent value except as a new kind of accounting ledger gimmick, brought to us by the usual accounting-gimmick suspects.
The Federal Reserve and every other central "bank" in the world is nothing but a ledger, to which numbers are added whenever the government wants them to buy more of its bonds (which it just prints out of thin air, and which they purchase with ledger money created out of thin air). So, if all ledger money is a ponzi scheme, and doomed, then Bitcoin is
no worse than any other fiat money in the world on that grounds. The difference is that, unlike a central bank's ledger, the Bitcoin ledger cannot be added to (except for the mining subsidy, which is fully predictable, thus, priced in by the market). Let's see, I can either hold FRNs on the Federal Reserve's magic money ledger, which it dilutes and devalues
ad nauseum, or I can hold BTC on the Bitcoin network's magic money ledger which cannot be diluted/devalued. I wonder which is better? The fact that Bitcoin is preferable to any ledger operated by a central "bank" means that we should expect that the ledger-money ponzi schemes operated by central "banks" will collapse before Bitcoin does. So, if all boats are sinking, I'd rather be in the Bitcoin boat than in an FRN boat. Et cetera.
It has no monetary value unto itself
Nothing has monetary value unto itself. Search "subjective theory of value."
and therefore the numbers on your little USB wallet thingie have no inherent value either. It has the same inherent value as your neighbor's dick pic on a USB stick does.
Calm down with the gay porn there, cowboy... no need to get emotional about an Internet debate. Bitcoin is not free of faults, nor above criticism. But it's objectively better than the fiat "money" issued by any central "bank" in the world, and we're all quite used to doing business with that funny-money. So, Bitcoin is more than capable of doing exactly the same thing, with the same level of performance over time, meaning, ability to function until the "inevitable" ponzi-scheme collapse. And that's
assuming your point that it's a ponzi-scheme. Which it objectively is not.
Yeah yeah....XYZ hates it so it must be great. That schtick is getting pretty tired lately.
XYZ hates it, and they're not pretending, so it's certainly not "just another trick of the Establishment." Bitcoin may be a lot of things, but it's not a trick of the Establishment. They truly, madly, deeply hate Bitcoin...
