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Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by lottin on Friday May 21, 2021 @10:17AM (#27234230)
No, the dollar isn't a pyramid scheme. People don't invest in dollars expecting to get a positive return.
Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by JohnJamesRambo on Friday May 21, 2021 @10:21AM (#27234297)
What? Yes they do. Why do you think people from other countries try anyway possible to get in USD and USD investments?
Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by jonfw on Friday May 21, 2021 @10:47AM (#27234686)
> in USD and USD investments

What's a USD investment?

People want USD because of it's transactional value (i.e. they want to trade with it), not to use it as a store of value

Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by lottin on Friday May 21, 2021 @11:06AM (#27234976)
First, a USD-denominated investment is not the same thing as an investment in USD. Second, I am from "other countries" and no one around here is investing in USD. Can you point me to a specific example of people from other countries who are investing in USD? Thank you!
Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by goldcd on Friday May 21, 2021 @10:37AM (#27234529)
Indeed.

And you get a massive return for investing in dollars, if your own currency has say hyper-inflation.

"I exchange my local currency for a USD and in a year when I want to buy something I can exchange it back for twice as much local of currency"

Not massively different to investing in BTC today, in the hope that you can convert it back for more of your local currency when you want to spend it.

Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by notahacker on Friday May 21, 2021 @10:49AM (#27234721)
You get a massive return in local currency from holding onto virtually any asset other than local currency or local currency denominated debt if your own currency has hyperinflation.

People overseas want dollars because dollars are extremely easy to transact with and many companies [especially outside their country] accept only dollars, not because a price graph and a tweet from Elon Musk have convinced them that dollars will be even more popular next year. The actual mechanism that ensures many of these companies will continue to accept dollars next year is financial obligation, not hype.

Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by jonfw on Friday May 21, 2021 @10:50AM (#27234737)
Why USD when you can hold an asset?

Maybe if you live in a place where liquid assets are hard to come by I could see using USD instead

Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by sb057 on Friday May 21, 2021 @10:20AM (#27234286)
No, but people invest in dollar-denominated assets that, should the USD become worth less, would cause a corresponding decrease in the value of said assets.
Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by eCa on Friday May 21, 2021 @10:22AM (#27234318)
Some most certainly do, at least in the more-positive-than-the-alternative sense.

Of course not to the same extent as in crypto currencies, but still.