Bitcoin wouldn’t even be here today if the early adopters hadn’t spent many years making it usable and valuable. Why would anyone who was uninvolved expect to profit from that?
It's precisely this deflationary effect of earlier adopters profiting at the expense of later adopters that makes the whole thing seem like a pyramid scheme.
It’s also more obviously proportional for people who put in over $1000 a few years ago.
I hope they thought through that risk properly enough, because we didn't sign up for it and don't care what happens if you end up losing it all.
>>Bitcoin wouldn’t even be here today if the early adopters hadn’t spent many years making it usable and valuable.
Bitcoin wouldn't have to be anywhere. Either way we will ditch it and spawn our own currencies as we deem fit. Why should be start poor in any scheme.
>>Why would anyone who was uninvolved expect to profit from that?
We won't. We don't even want bitcoin, we will start our own ones later.
I agree, anything else would be hypocritical of me.
> Bitcoin wouldn't have to be anywhere. Either way we will ditch it and spawn our own currencies as we deem fit. Why should be start poor in any scheme.
Unfortunately you won’t have a choice, due to the network effect. You can’t, in general, expect to make money out of nothing. If you think that’s a viable business model, you probably don’t fully understand why bitcoin became valuable or the work involved.
> We won't. We don't even want bitcoin, we will start our own ones later.
Better get started soon!