Quote:
Originally Posted by Wayne 962
It's very clear to me and especially after reading all the comments here that Bitcoin and other currencies are similar to a multi-level marketing system. The only reason why people are investing in them at this point (admitted by nearly 100% of everyone on this thread) is that they are hoping that someone comes along in the future and pays them more for it. That is the technical definition of a speculative asset, and very similar to how multi-level marketing works.
-Wayne
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Isn't this the exact same argument for gold?
Do you actually know anyone who is buying gold to process it and make something with it? Or do they all just buy it in hope that someone will come along later and buy it at a higher price?