[Chugalug] Bitcoin = scam

Tyler Mittan flashbatmanquestion at gmail.com
Wed Aug 7 14:04:13 UTC 2013


Don't treat it like it's something that's away from the law of supply and
demand. Nothing has its value “set" unless there is some kind of price
control. The value is set by the law of supply and demand.

If there truly is finite amount of bitcoins that are being created than the
worth of a bitcoin will not be able to one day be worthless unless
everybody decides to stop taking bitcoins. Right now it is almost a
currency, but it won't be such as long as the us government decides it
doesn't want a competing currency.

There are some good economists that talk about bitcoins and it might be
worth reading what they have to say before knocking it.
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