Interesting Debate #2: Bitcoin is a Casino

Interesting Debate #2: Bitcoin is a Casino

Bitcoin is a casino; perhaps, even, a lottery. Do people acquire money through investing time into Bitcoin: absolutely? Is Bitcoin a response to the distaste of global, hegemonic, rule imposing fiat currencies globally? Why do Bitcoin fans consistently follow certain narratives; I.E.:

  1. “Gold is not money,”
  2. “Gold will never be money again,”
  3. “What backs Gold?..,”
  4. “Gold is not used for anything,”

The [less than] intelligent list of questions and accusation concerning Gold from the Bitcoin-fanbois continues ad nauseam.

I have a question for you super-beings engaged in the arab-spring of global currency: Do you honestly believe under the circumstance of a global economic collapse all holders of Gold and Silver will rush to trade every ounce for Bitcoin? Or will the collapse work as History always shows: people rush to real money; real-estate: Gold and Property. Perhaps Bitcoin has more to do with ripping people off than guaranteeing some sort of: “financial Valhalla” with, for example, bogus $180 devices producing $0.10 a day; or new crypto-coins that will somehow displace the original [crypto] coin and become the new “money maker.” Competition only lowers price as more producers enter the market to satisfy demand of the consumer. Is demand in the crypto-currency market purely driven by the illusion of the casino-effect; namely catering toward: the “get-rich-quick” kids (even if those “get-rich-kids” are middle to late-aged anti-American communists?

Bitcoin is a Casino