http://www.nzherald.co.nz/opinion/news/article.cfm?c_id=466&objectid=10878242Bitcoin is just another ponzi scheme, end of story, there is nothing more to it, move along, blah-blah-blah.
Since my last, and first, foray into the world of bitcoin the story has gained further currency. But somehow I'm not excited: perhaps because I didn't buy any last year; although really it's because I don't buy the story.
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"To the extent that bitcoin is a Ponzi scheme, dependent on ever more fools to buy into it in order to provide early adopters with profit, this is perhaps the most important reason why the value of bitcoin could continue to appreciate," Mims writes. "Indeed, the Winkelvoss twins are explicit that this is their bet, too."
