While Bitcoin didn't work as a currency, an open-ended Ponzi game still holds potential. A currency is essential for profit; credit did not arise from central banking. Deflationary currency limits the amount that one can borrow. Bitcoin, as a new, as it is, is, it's mostly a Ponzi scheme as far as I'm concerned.
Better explanation: Stephen Diehl: It's zero-sum, so that if there's less left for anyone, and it will only be sent away to the insiders to pay the claims. You know, it's the same as an open Ponzi scheme.
By definition, a commodity goes up and down in price according to supply and demand. All get to draw from this central pool of ideas. At times, it would have a benefit, even though we don't use it as an item of daily use. From extracting valuable minerals, huge financial and environmental losses have been incurred.
Money received from a group of old donors is used to pay others who recruit new ones. The legitimate, while the criminals flee or are sent to prison. Without money, no gasoline.
The only asset that fluctuates according to the market for it. It can't be manipulated by a central entity. As useful as it will be, we should do without a payments scheme. Reduction of money and environmental expense as a result of extracting precious resources
It considers gold to be the sole element in the periodic table that has held the #1 position for the last, even now, thousand years and may well hold the next in the not too distant future due to bitcoin's technical shortcomings.
Gold is no threat to the currency. 20 years from now, the sum of gold you've put in the ground will always be there. If the exchange rate of gold and other items does not change, gold won't increase in value.
On the other hand, in order for BTC to have value, one must keep mining it while they own it. This is paid for by the people who are just coming into the game. If BTC is too stable (e.g., if new buyers are unable to pay a premium to buy in), miners must tolerate falling hashrates in order to remain solvent. The bottom line is that bitcoin does not have any kind of tangible value.
A long-term fund that succeeds and bringing in attracting new investors is considered a Ponzi scheme.
On the contrary, some people consider it stock, and others think of it as money. For other nations, it's an investment, just not for us. Can't do it at the same time. The value must diminish with time so everybody can still hold on to their money so they won't want to waste it. Investing in the time to manage those investments is another waste of time. not only are they increasing the demand, but they are causing the price
As well, a third group believes it to be a shield. No matter what the economic climate is like, you should plant hedges. Give you a range of choices. For example, you can acquire large amounts of food or toilet paper when you may run out during a scenario in which you're trying to save money.
The value must diminish with time so everybody can still hold on to their money so they won't want to waste it.
If someone would expect a bar of gold to buy 1% more loaves in the time period it takes to double in value, but invest it in something that will rise 2% in the next year
A financial return does not fully cover any living costs, so if someone feels the desire for both to be primary. They will be dead in a year if they do not care for my food and shelter.
Empirically and traditionally (slowly). Many Americans have exchanged dollars for gold coins and dollar bills over the years.
The more a currency appreciates above all else in the economy, the more it will deflate. Since expansion in traditional markets has vanished or been undermined, this is no longer possible. It is also an exceptional argument, which does not apply to all currencies.
To ensure that a currency's worth erodes, the currency would have to be less expensive over time. Otherwise, none will actually spend the currency.
It is not necessary for the buying power of currency to adjust, as long as the central banksters will set an inflation rate of 0% to 2% to 3%.
A large portion of economic growth in modern economies is generated by consumer debt. A key explanation why we lend and invest in debt is to get the highest yield possible. Once the currency depreciates wildly, one cannot forecast future prices. If someone cause the currency to lose value, you are being rewarded to keep your debt rather than spend it. When no one is willing to buy debt, nothing gets created, and there is no GDP growth unless velocity increases.
It was part of the reason that the gold standard was taken out of circulation. Currency deflation has two causes: first, the return on money was greater than it was at every stage before the early 1900s; and secondly, since loans are denominated in dollars, even if the price of currency hasn't changed, the cost of making a loan has increased. By 1932, inflation was -10% and interest charges on all loans had increased by 10%. To put it another way, the bank's 27% interest-bearing loans are disastrous for industry, particularly in the agricultural sector. While the gold standard was abandoned in 1933, interest rates soared to 12%, and citizens were able to go on debt again.
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