Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Saturday April 24, 2021 @02:00PM
(#26926925)
If one person owned all the Bitcoin in the world would they be rich?
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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by sircastor on Saturday April 24, 2021 @02:06PM
(#26926971)
Only if others want it. This is transferable to any medium. If we do a little thought experiment and say one person owns all the gold in the world, and another owns all the wheat in the world, which one is richer?
Well, it depends on which you’re interested in.
Adjacently though, if you’re starving you can’t eat the gold.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Saturday April 24, 2021 @02:13PM
(#26927051)
As a kid I enjoyed the myth of Midas with the golden touch. Everything he touched turned to gold, even his food, so he starved to death.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by lostmsu on Saturday April 24, 2021 @02:08PM
(#26926998)
Not sure what is your point here. Same question can be applied to US dollars.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Saturday April 24, 2021 @02:10PM
(#26927017)
The govt can print more dollars. There is a finite amount of Bitcoin.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by managerclass on Saturday April 24, 2021 @02:25PM
(#26927152)
There's many cryptocurrencies that are designed to be infinite. How does that change anything?
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by tromp on Sunday April 25, 2021 @06:45AM
(#26931756)
Not as much as one might think:
https://john-tromp.medium.com/a-case-for-using-soft-total-su...
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Saturday April 24, 2021 @02:43PM
(#26927304)
I'm asking about Bitcoin specifically. I believe crypto has real value for frictionless transactions, but I'm trying to understand my intuition that Bitcoin itself is a dead end.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by lostmsu on Saturday April 24, 2021 @03:22PM
(#26927570)
Are you though? You are refusing to answer your own question directly in regards to US dollar. It is a simple yes or no question, and instead of yes or no answer you replied with an unrelated statement, and still did not give a yes or no answer. I question your true intentions here.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Saturday April 24, 2021 @03:33PM
(#26927649)
I didn't ask about the US Dollar. I asked about Bitcoin. It's seems odd to me that you are concerned that I didn't answer your question about the US dollar when you haven't answered mine about Bitcoin. I question your intentions as well. I only asked a simple, speculative question. My intentions are pure, while you present yourself to me in a manner that reminds me of trolling.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by lostmsu on Saturday April 24, 2021 @07:25PM
(#26929080)
Your question and follow up comments imply, that answer to the question discredits Bitcoin somehow.
I am telling you whatever answer to your own question you will come up with in regards to Bitcoin, the same reasoning will be applicable to US dollar, therefore it should discredit US dollar in the same way, which basically makes the whole point (whatever that is) absurd.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by okareaman on Sunday April 25, 2021 @11:37AM
(#26933532)
I hear what you are saying now. I had trouble because I don't agree that hoarding Bitcoin and hoarding dollars ate the same. What if two people own all the Bitcoin? How does Bitcoin obtain it's value? I'm trying to understand it, not advocate an opinion.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by lostmsu on Saturday April 24, 2021 @02:12PM
(#26927045)
You are not answering the question by repeating this common knowledge.
Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f...
by paulpauper on Saturday April 24, 2021 @02:12PM
(#26927043)
that would imply owning the hashing power which would make bitcoin cease to work