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30-11-2013, 01:36 AM
(This post was last modified: 30-11-2013, 01:42 AM by specuvestor.)
I have stated my unreserved opinion in this rational forum on bitcoin because in my experience this is too obvious a duck.
Demand has to be based on fundamental demand which many MLM lacks. Why insurance is a valid MLM is because there is a fundamental demand for the consumption of insurance. Similarly bitcoin lack a fundamental demand except it is restrictive in supply. This is not a rare art piece but one generated by generic one and zeros. You can try to sell gaming items but the day of reckoning will come when these virtual items are worthless.
Gold has certain industrial uses as electrical interconnects and also storage of value from a historical antiquity and Bretton Woods legacy perspective. Even so Buffett's view on non productive gold is very clear. And I don't think bitcoin is productive or can be used for other purposes.
IMHO bitcoin is a product of virtual goods commerce and the misguided idea about fiat currency. History will repeat itself
Demand has to be based on fundamental demand which many MLM lacks. Why insurance is a valid MLM is because there is a fundamental demand for the consumption of insurance. Similarly bitcoin lack a fundamental demand except it is restrictive in supply. This is not a rare art piece but one generated by generic one and zeros. You can try to sell gaming items but the day of reckoning will come when these virtual items are worthless.
Gold has certain industrial uses as electrical interconnects and also storage of value from a historical antiquity and Bretton Woods legacy perspective. Even so Buffett's view on non productive gold is very clear. And I don't think bitcoin is productive or can be used for other purposes.
IMHO bitcoin is a product of virtual goods commerce and the misguided idea about fiat currency. History will repeat itself
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)