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hunter

(38,303 posts)

17. Gold is not associated with any currency.

Reply to fescuerescue (Reply #13)

Sat Oct 16, 2021, 03:46 PM

Oct 2021

Using it as money is equally foolish.

Gold does have uses, for example, as an electrical conductor or for making pretty jewelry.

Bitcoins on the other hand are essentially numbers having certain predefined properties and are not useful for either purpose.

If I owned pi I might be the richest guy on earth.

I suspect bitcoin was engineered as an obfuscated chain-letter-pyramid scheme, possibly with ill-intentions , maybe as a joke.

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18 replies

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Highlight:

Bitcoin approaching new all time high again [View all] fescuerescue Oct 2021 OP

10 trillion market cap will be the next peak, maybe? ColinC Oct 2021 #1

Wrong forum for this... MisterProton Oct 2021 #18

This is really iffy. nt joetheman Oct 2021 #2

I'm still long on tulip bulbs... Moostache Oct 2021 #3

Various flowers have seen boomlets and madness Here is one I had not heard of empedocles Oct 2021 #5

Yep. I said the same thing when I sold all 20 my bitcoin at $1,000 fescuerescue Oct 2021 #6

I've avoided a lot of unethical money making opportunities in my lifetime. No regrets. hunter Oct 2021 #7

Curious how bitcoin is any more unethical than regular gambling or other purely speculative ColinC Oct 2021 #8

Fortunately I'm extra ethical in other areas fescuerescue Oct 2021 #15

Completely flawed analogy. Tulips are not fungible, not durable, and involved a massively Celerity Oct 2021 #16

'Extraordinary Popular Delusions and the Madness of Crowds' - McKay empedocles Oct 2021 #4

I view BC the same as I do the celebrity mega-rich. It is all about taking walkingman Oct 2021 #9

No, it's not "just another currency." hunter Oct 2021 #10

Good point, and I agree. Government regulation (like China) could change the best laid plans. walkingman Oct 2021 #11

I agree. But that's also the point fescuerescue Oct 2021 #13

Gold is not associated with any currency. hunter Oct 2021 #17

I wasn't "pro Bitcoin" until China was against it. But now if they don't like it then I'm all for it ZonkerHarris Oct 2021 #12

China is weird. That have banned it probably a dozen different times fescuerescue Oct 2021 #14