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A comment on Bitcoin is 'a giant pyramid scheme,' says Pinboard founder [video]. Parent comment

Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by gameswithgo on Friday May 21, 2021 @10:18AM (#27234260)
The dollar is backed by semi rational opinions of the GDP of the nation(s) printing the dollars. The relative values of currencies shift, normally slowly, because normally economies don't tank overnight.

Bitcoin is not backed by anything. Thus it has wild swings.

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Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by JohnJamesRambo on Friday May 21, 2021 @10:22AM (#27234324)
> backed by semi rational opinions of the GDP of the nation(s) printing the dollars.

About that...

https://www.currentmarketvaluation.com/models/buffett-indica...

https://fred.stlouisfed.org/series/M1SL

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Re:Bitcoin is 'a giant pyramid scheme,' says Pinboard founde... by traloid on Friday May 21, 2021 @10:29AM (#27234411)
It is backed by cost of electrical consumption. Its just that 90% of its value is speculation. But it absolutely does have "real value" and is backed by material reality.
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