When bitcoin appeared, everybody was saying that "only retarded people would `invest` in such an obvious scam. you would be better to blow your money in Vegas, at least you'll get a free drink". Now the same people say "it's not fair that some got to buy it at such cheap valuations".
No we are still saying the same. Lots of people made money on pyramid schemes, that doesn’t make them a good investment. The longer a pyramid scheme runs, the dumber it is to invest in it.
If you truthfully believe bitcoin will develop into a stable alternative to state run currencies, great, I wish you good luck.
I don’t. To me it is like religion - they can’t all be right and they are mutually exclusive. I don’t trust myself to be able to pick the winner among all the losers.
The notes and coins for the euro were first issued in 2002, and the first bitcoin was mined in 2009. What makes one a pyramid scheme and the other not?
The answer surely can't be "every currency issued by a government is stable forever and every crypto-currency will collapse before 5 years".
What I'm saying is, there are a lot of currencies out there, and some are more stable and have a better track record than others. You may not trust yourself to pick a winner among the losers, but I suspect you do use at least one currency from time to time, so you have picked one by default.
