Silvaire wrote:
I wish I’d followed his idea on Qualcomm stock
I wish I had bought a couple of bitcoin when they were really coins
How can bitcoin be sustainable? Isn’t it something totally artificial?
You mean compared to Gold, Diamond or … printed paper?
BerlinFlyer wrote:
You mean compared to Gold, Diamond or … printed paper?
Bravo! :)
Peter wrote:
How can bitcoin be sustainable? Isn’t it something totally artificial?
It’s sustainable so long as people keep believing it’s going to be saleable. If some day people lose that confidence for whatever reason, there is nothing to prop it up, so it instantly becomes a pyramid scheme.
dublinpilot wrote:
If some day people lose that confidence for whatever reason, there is nothing to prop it up, so it instantly becomes a pyramid scheme.
In that it is no different from the stock market. Share values are unrelated to the net asset values of companies – it’s all about expected future profits.
But what if Bitcoin is another dotcom bubble? A lot of people could lose a great deal of money, especially at current prices. The downside could be very big.
gallois wrote:
But what if Bitcoin is another dotcom bubble?
But what if USD or EUR is another bubble? See Airborne_Again’s message above…
Looking at this simply, if a lot of people lose a lot of money then obviously some other people have made a lot of money. It is bit like those who say they have lost money because the value of their ( house/shares/gold hoard – choose at will) has fallen. It is only relevant if you have to sell.
Airborne_Again wrote:
In that it is no different from the stock market. Share values are unrelated to the net asset values of companies – it’s all about expected future profits.
That’s only true to a certain extent. Most companies have an inherent value. Yes the value ascribed to them on the stock market, which exceeds their inherent value could also be viewed as a pyramid scheme. But they do have an inherent value which is real.
arj1 wrote:
But what if USD or EUR is another bubble?
That’s also true, and does happen to currencies. But if the economy is well run then the governments can prop up those currencies and the risk is very low. There is no one in the background to prop up bitcoin if confidence is lost.
