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<p>[QUOTE=&quot;harrync, post: 6525329, member: 58588&quot;]Banks, businesses and other &quot;big money&quot; people were into Credit Default Swaps and other derivates big time in 2007-2008. That worked out well. [&quot;Big Money&quot; was probably even into the tulip bubble, given the stories of a whole house being traded for one bulb.] As I said, the beauty of bitcoin is that there is no middleman, no Ponzi, so no one is going to jail. It&#039;s not a Ponzi scheme; it just has the same result as a Ponzi scheme: transfer of wealth [on average] from late &quot;investors&quot; to early &quot;investors&quot;.</p><p><br /></p><p>Bitcoin may eventually be useable as money, but unlikely. Money generally is ascribed three uses: 1) medium of exchange; OK, if you want to buy drugs, pay a ransom, or buy a Tesla, you can use it. 2) store of value; OK, if you buy at the right time, you can protect your wealth, but the same can be said of any security, even Gamestop stock. 3) unit of accounting; I haven&#039;t heard of any financial entity doing their books in bitcoin. If a major corporation does a big bond issue in bitcoin, I&#039;ll change my mind.[/QUOTE]</p><p><br /></p>

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