>is it a ponzi scheme because somebody valued the new kyries
>at $1500?
>or the new macbook pro at $2500?

a macbook is a real tool that you can hold in your hands. it can be used to make a living, to stay connected to the world/family, and for entertainment.

what can you use bitcoin for?

>in china they can make a generic medication, have it shipped
>to the
>u.s. and sell it for 4x the price at which it is made. what is
>the
>value in that? $4? $100? nothing?
>
>as long as you're calling that a ponzi scheme too, fine.

definitely not a ponzi.

cost of labor in china is cheaper than it is in the west, therefore, many companies outsource labor in order to increase their profit margins.

the definition of ponzi:

"a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

bitcoin does not exist in the physical world, it has no purpose or use case, it relies on outdated and costly tech. it's highly volatile. in short, it's a pipe dream. it cannot be used to achieve any effect (medicine), and holds no intrinsic value as a product or service.

>the good/service in this case should be decentralization,
>tech, the
>value of supply/demand. which you can't really put a price on
>imo.

decentralization is a pipe dream. nations and banks will never yield control. if you're wondering whether or not centralization exists, look into the amount spent on transaction fees. furthermore, some of the biggest crypto exchanges prevented people from selling and locked many out of their accounts.

the
>2008 financial crisis is what triggered this and countries
>that have
>been pissed on are willing to buy into it.
>

the 2008 financial crisis occurred due to the collapse of the housing market. in short, too many people took loans they could not afford. poor regulation was a major catalyst.

bitcoin was started in 2009 as a method to send money over the internet using an alternative payment system, operating free from central control.

these two instances have 0 to do with each other.