Bitcoin is much more of a Ponzi scheme, people buy and sell them betting that it will continue to go up in value.<div><br></div><div> A friend told me a week ago that he just heard about it, and its up to 80 cents a coin. I thought the concept of bitcoin was interesting a year ago, so I set a computer with the client, and completely forgot about. I just checked my client, and bam 4050 bitcoins. I proceeded to exchange some and bought something from woot. So people are willing to pay for them.</div>
<div><br></div><div>That being said, it seems to be getting much harder, as the last block I generated was a month ago. This will either drive the value way up, or cause it to collapse. </div><div><br></div><div>--George<br>
<br><div class="gmail_quote">On Wed, Apr 6, 2011 at 5:24 PM, Lokkju Brennr <span dir="ltr"><<a href="mailto:lokkju@gmail.com">lokkju@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
I'm not sure how anyone could see bitcoin as a pyramid scheme, as<br>
there is not a continuous influx of cash investors to keep it going.<br>
What it *is*, is a fiat currency with a fixed disbursement. As a fiat<br>
currency, it has no value other then what people give it - but at the<br>
same time, because real work (well, computer time) goes into gathering<br>
a bitcoin, it has a semi-fixed inflation rate, with a cap.<br>
<br>
Loki<br>
<br>
On Wed, Apr 6, 2011 at 2:20 PM, Justis Peters <<a href="mailto:justis.peters@gmail.com">justis.peters@gmail.com</a>> wrote:<br>
> pyramidal<br>
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