Magic Money: The Bitcoin Revolution (Documentary)

[grarpamp]

> apparently doeant know what the word "currency" means.

Yes, many people still only know what they're told
by declaration in indoctrination, not what properties
are necessary to a currency / money / asset.

> bitcoin isn't much of a currency yet cause it's not
> widely accepted.

Acceptance / use is one of the properties, and it's rightly growing.

> Do you ever think it will stabilize

As crypto to fiat ratio, circulation, and use rise,
so does stability. $330B ratio is at least measurable.
News reports are broadening circulation. And the BCH
community is now leading the way to opening up usage,
especially through driving multicurrency payment processors
and low fees.

> Bitcoin and the like are OBVIOUSLY a Pyramid Scam

False, in many areas of the definition. One in
particular, pyramid requires scheme transfers
among the participants... those do not occur
with Bitcoin example. Thus invalid comparison.

https://wikipedia.org/wiki/Pyramid_scheme

> Flash Trading

> As long as the gamblers outnumber the people who would like it to be a
> stable currency the situation remains.

Typical whining about volatility. Mooted by proper
understanding and freedom to choose. Everything
on every market is by definition volatile. Don't want
to discover, accept offer of, or risk its value, don't
take it from storage to market.

> although bitcoin is a form of 'fiat currency' it has more
> legitimate value than the competing garbage money produced by
> government

Every floating fiat worldwide is ultimately backed by nothing, no
guarantee of fixed exchange, except faithful decision to adopt it,
and perhaps the guns their issuers use to steal from others.

The peace of cryptocurrency is better, at least any theft
and murder there is to take the coin itself, and not committed
by some default entity to take other[s] things to back it,
or its proffered guarantees, up.

> Legitimate value of a poker chip without anything tangible backing it. Not
> even a casino whose property you can sue to take a piece of, or a one-arm
> bandit as payoff to put in your den.

Litigation is not ownership, it's costly division of remainders.
Please show us the contract between buyer and casino over
purchase / rental of its chips. Buyers of chips *might* own the
physical chip, as to rights to or over anything else, including
any reciprocal transaction... welcome to vaporware.