Re:Bitcoin Takes Bigger Wall Street Stage with Smooth CME Debut
by dragonwriter on Monday December 18, 2017 @01:33PM
(#15953986)
> Can Bitcoin really survive without an ever-increasing price?
Requiring ever-increasing price as measured in some other currency is not what defined a pyramid.
Requiring unsustainable growth rate which must eventually consume all of the available number of something limited is; most strictly, a pyramid scheme requires exponentially increasing number of participants at a rate that exceeds population growth (usually on the scale of requiring the entire population to participate in a very short period of time.)
To not be a shrinking role in the economy, Bitcoin may needs a long-term growth rate (once coin mining is exhausted) equal to the growth rate of the economy (which may or may not be always positive over the long-term, and if it is may only be logistic), but that's not a pyramid.
Requiring ever-increasing price as measured in some other currency is not what defined a pyramid.
Requiring unsustainable growth rate which must eventually consume all of the available number of something limited is; most strictly, a pyramid scheme requires exponentially increasing number of participants at a rate that exceeds population growth (usually on the scale of requiring the entire population to participate in a very short period of time.)
To not be a shrinking role in the economy, Bitcoin may needs a long-term growth rate (once coin mining is exhausted) equal to the growth rate of the economy (which may or may not be always positive over the long-term, and if it is may only be logistic), but that's not a pyramid.