Comment Re:Bitcoin features (Score 1) 535
One can make a similar argument about paper moneies, as they all have hyperinflations built-in. This conclusion is easily reached by simply looking at history; no fiat system has ever survived the abuses politics subject it to, not to mention fractional-reserves being abused to the point of fraud.
Bitcoin won't necesarily enrich the early adopters. It would be more accurate to say that it enriches savers at the expense of spenders. To be fair, unlimited monies (practically all fiat monies) with their inflations do the opposite; they reward spenders and borrowers by undercutting rates of interest, and punish savers by making their savings lose purchasing power. By this measure, if bitcoin is a ponzi scheme, then all other money is at least a pyramid scheme.
I don't see bitcoin as being bad from an economic point of view. The people who want a store of value *can* use this (so long as SHA-256 is safe), as it would benefit them; though they'll probably hold on to their gold instead. They can then use the inflating government money for their loans, and get a good deal both places.
Also, don't be playa hatin' on the money launderers. It's a crime that doesn't exist without income taxation, which is to say not really a crime in the classic sense, as nobody is harmed; it's really just tax evasion -- which itself was not criminal until fairly recently (it was only a tort).
And good luck stamping out stores of value from existence. People have tried outlawing gold, silver, and nearly all other forms of capital; all it has ever accomplished is impoverishing the society that tries. Maybe that's why your post is so heavy on pejoratives, like "buttcoin".