@nancyhn: “The banking industry is a fraudster's paradise. The difference is they don't get arrested, they get bailed out with bonuses. It seems there are a lot of short memories here who don't remember 2008.” --
icepat: “If you rolled back every bitcoin transaction ever made you would end up with people in debt because the transaction fees were paid. This makes bitcoin into a scam. The miners in total are guaranteed to win, everyone else in total is guaranteed to lose. Some people haven't realized their loss but it's there. It is an ingenious scam because it's not the scammers who hype it up, no, it's the marks because the only way they can get ahead if they hype it up. The miners get their cut no matter what.”
“This is not the same for say, gold, because gold can be made into, say, electronics which now can be sold for more than the sum of the cost of the components. Stocks pay dividends etc.”
“Since so fundamentally it's a scam, is it a wonder other scams are built on top?”