Is Filecoin a $257 million Ponzi scheme? [pdf]

Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by realPubkey on Thursday November 30, 2017 @11:47AM (#15817167)

Where I come from your nickname would soon be "4-fingers"

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by pavlov on Thursday November 30, 2017 @11:52AM (#15817214)

Same risk with a $10k diamond ring, right? Yet people buy those from Tiffany's.

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by chockZ on Thursday November 30, 2017 @12:16PM (#15817428)

Doesn't a diamond ring lose value once it is sold, though, in terms of re-sell value? A ring worth one bitcoin is not going to lose value once it is sold (aside from market volatility).

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by jjoonathan on Thursday November 30, 2017 @12:44PM (#15817709)

Yeah, but it's business as usual for petty thieves to cause 10x (or 100x, or 1000x) damage for a 1x payoff.

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by usrusr on Thursday November 30, 2017 @02:28PM (#15818728)

1000× times the diminutive likelihood that this nicely immutable paper wallet hasn't already been spent.

(A paper wallet is a paper wallet even if it is written on gold in tengwar runes that only appear when subjected to fire)

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by thaumasiotes on Thursday November 30, 2017 @04:39PM (#15819800)

Yes, a diamond ring cannot be resold, since the price of diamonds has been decoupled from the difficulty of getting them. You're not paying that jeweler for the diamond on the ring; you're paying him a special fee for being a De Beers recognized diamond merchant. A bitcoin doesn't have that problem.

However, a ring inscribed with a private key controlling one bitcoin will lose its value immediately, because whoever comes into possession of (or ever sees) the ring will move the bitcoin.

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by tlrobinson on Thursday November 30, 2017 @02:27PM (#15818719)

Shrem wears a ring engraved with the code that gives him access to the Bitcoin "wallet" on his computer.

"They started calling me four-finger Charlie“

http://www.businessinsider.com/charlie-shrem-arrested-bitcoi...

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Re:Is Filecoin a $257 million Ponzi scheme? [pdf] by paulddraper on Thursday November 30, 2017 @11:53AM (#15817220)

Is that also true for diamond ring wearers?

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