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Then they will ask why nobody wants to use their payment cards (lemmy.world)
submitted 1 year ago by to c/memes@lemmy.world
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[–] 8 points 1 year ago (6 children)

Bitcoin is a pyramid scheme because it only keeps its value as long as people are constantly buying it. If no one wants to buy it, the value of any amount of bitcoin is zero. This is why people who have bitcoin are trying to convince anyone else to keep buying.

any currency is initially a bank's promissory notes, and then a promise to exchange the paper for some kind of labor. As a person who has experienced at least one default in his life and whose entire toilet is covered with USSR money, I can say that in this regard, no currency is different from bitcoin.

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  • [–] 1 point 1 year ago (5 children)

    Well, gold might be a little bit different. It derives its value not because of a government mandate but because monkey brain like shiny

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  • [–] 1 point 1 year ago (4 children)

    The value of gold, silver and platinum is determined by two factors: there is little of it in nature and you cannot take more at will and it does not oxidize, which ensures good storage.

    I really don't know about you, but in my country you can't take gold out of the bank. You buy gold from a bank and it stays in the bank longer without the possibility of taking it out. What a joke. Guess what happens to the bank and the gold in it when the economy collapses.

    And now look at Bitcoin. there is a little of it, you can't increase it at will, and it's convenient to store. Does it remind you of anything? And it's always with you.

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  • [–] 1 point 1 year ago (3 children)

    Yes, but the overwhelming majority of the value of gold is because it is shiny. Up until very recently, it had almost no other practical use other than being shiny. Plenty of other objects meet the definition of "rare" and "cannot make more at will" and "doesn't degrade over time". Gold is just the prettiest.

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  • [–] 1 point 1 year ago (2 children)

    Well, what kind of items are these that are rare, they cannot be made as much as you want, they do not deteriorate over time And allow processing?

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  • [–] 1 point 1 year ago (1 child)

    For most of human history, salt met this definition. Ever wonder why it's called a salary?

    Tungsten is also one of the rarest minerals on Earth despite being relatively cheap.

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  • [–] 1 point 1 year ago*

    For most of human history, salt has corresponded to this definition. Have you ever wondered why it's called a salary?

    It's very nice when your wallet is barely keeping afloat and you're left without money because salt gone form wallet... Or do you mean super cheap rock salt?

    Well, to be left without money because I got caught in the rain is not still a pleasure.

    Tungsten is also one of the rarest minerals on Earth, despite its relative cheapness.

    Good... At a time when gold was still a currency, tungsten was not yet able to be smelted. In addition, when heated, tungsten is reactively oxidized, unlike gold.

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