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Originally Posted by newtothegame
Actually, if you read further, you would see that "Michael’s Auto Plaza in Albany, New York, also began accepting bitcoin payments through BitPay in December".
Either way though, the point is that cryptocurrency is definitely a possibility. Banks are looking at block chains, etc etc. The IMF is even talking about regulations....
So, I do not believe its a Ponzi scheme. Now again, this does not mean that I have went and mortgaged the house or may substantial buys. Its just an opinion.....
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I don't think it is a ponzi scheme. The problem is what is its value. Currency issued by a government is backed by the credit of the government. Whose credit is backing the value of bitcoin?
The true value of currency is what goods can you exchange for the currency. Bitcoin is sort of like the coins issued by the Continental in John Wick movies.
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A free people ought not only to be armed, but disciplined; to which end a uniform and well-digested plan is requisite; and their safety and interest require that they should promote such manufactories as tend to render them independent of others for essential, particularly military, supplies.
George Washington
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