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Comment: Re:Ponzi scheme (Score 1) 357

In a ponzi scheme, you give me your investment and I give you 120% of your investment back using the funds of later investors. In bitcoin you buy bitcoins for the market price and then if the price goes up you can profit. There is no conman guaranteeing that everybody that buys a bitcoin will be able to sell it for more than they paid.

Comment: Re:I have these invisible objects (Score 1) 357

Look, by not buying you are in fact taking a risk. If the world decides to use this as its global currency and all other currencies become worthless you may be forced into servitude working 70 hours a week for a tiny fraction of one of these invisible objects. People who got in early would be able to simply retire. There is a risk in not buying also. The only risk in buying is that the currency you buy gets less valuable and then you can just buy more. The risk in not buying, well, if you are young, let me come back in ten years and laugh in your stupid face and say I told you so as you shovel shit for a fraction of a bitcoin a year.

Comment: Re:Who would sign on? (Score 1) 157

by Bramlet Abercrombie (#46059053) Attached to: Google Says It Has "No Current Plans Regarding Bitcoin"
Bitcoin doesn't need founders anymore. Yeah, the guy that has the genisis block under his control is going to be super rich. This is all the more reason to get some of the bitcoins under your control while they are still under 1k. Unless you like being a slave? Cryptocurrency has infinite upside risk. Image a future where bitcoin is the only currency accepted, one coin cost a million dollars and you don't have any because you thought it was a scam for suckers. Who is the sucker if it plays out like this?

Comment: Re:Who would sign on? (Score 1) 157

by Bramlet Abercrombie (#46057223) Attached to: Google Says It Has "No Current Plans Regarding Bitcoin"
What are we so skeptical about? Do you honestly think investors and bagholders will stop trading bitcoins for US dollars at some point in the future and all this will go away? You are the one who needs to dream on. Buy in now or cry in 10 years. You were all here. You could have all bought in for under 1k a bitcoin. Or you can all continue to believe it's a just a scam for suckers. Life is all about choices.

Comment: Re:Killing two birds with one stone? (Score 1) 408

by Bramlet Abercrombie (#45987081) Attached to: US Government To Convert Silk Road Bitcoins To USD
Get serious, bitcoin has a 10 billion dollar market cap. 28 million sold at once will drive the price down for sure, but new money will come in to buy the cheap bitcoins and the price will go back up. You can't make a bitcoin worthless unless you kill or otherwise discourage all the humans intersted in owning larger and larger amounts of them.

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