[Chugalug] Bitcoin = scam

Stephen Kraus ub3ratl4sf00 at gmail.com
Wed Aug 7 14:20:45 UTC 2013


Post your links.

Also, before quoting 'law of supply and demand' which is one of the most
often misquoted economic terms, please provide me with a list of banks that
accept bitcoins as a trade medium, and major retailers that accept them.

Also, let me be clear in my intentions with this: it is not to call anyone
out or plaster anyone as a fool, but merely to play devils advocate and
provide skepticism
On Aug 7, 2013 9:16 AM, "Tyler Mittan" <flashbatmanquestion at gmail.com>
wrote:

> 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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