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To: Errant

Payment system, currency, or ponzi scheme?


7 posted on 01/23/2014 8:26:53 AM PST by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: I want the USA back

It’s both a payment system and a medium of exchange (currency) but certainly not a Ponzi scheme by any definition I’ve ever seen.


11 posted on 01/23/2014 8:34:43 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: I want the USA back

Please explain how it’s a ponzi scheme?


17 posted on 01/23/2014 8:48:15 AM PST by DManA
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To: I want the USA back

>>Payment system, currency, or ponzi scheme?<<

None of the above. It’s a speculative investment in something that few people understand at all. It can’t serve as a payment mechanism because it’s far too volatile. And it’s not a currency because it’s not generally accepted by everyone doing business in a country (and never will be due to it’s failure to maintain a stable value from one transaction to the next.)

It appears similar to a Ponzi scheme only because early holders are able to sell to new holders at significantly higher prices. But then so do holders of rare collectibles, and no one considers those Ponzi schemes.

Buy it, sell it, speculate in it all you want, but that’s all it is—a speculative investment. It will eventually go the way of carbon credits, toward zero over a short time span, as it’s utility is deemed worthless and the perceived risk of holding it becomes considerable.


20 posted on 01/23/2014 9:23:39 AM PST by Norseman (Defund the Left-Completely!)
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To: I want the USA back
"Payment system, currency, or ponzi scheme?"

Tulip Bulbs...

33 posted on 01/23/2014 11:32:50 AM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: I want the USA back

Payment system, currency, or ponzi scheme?


It’s a floor wax AND a dessert topping! Mmmm!


40 posted on 01/23/2014 4:00:05 PM PST by Atlas Sneezed ("Income Inequality?" Let's start with Washington DC vs. the rest of the nation!)
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