It is a financial pyramid, and has been that right from the start.
I never agree it is a pyramid type of scheme, if it is so then all company shares are based on financial pyramid or even gold is based on that.
Bitcoin is gaining its value based on its demand and it benefits more to the holder on how long he holds it, if you are considering a hidden pyramid within that, then our total economic system is based on it.
An apple farmer is harvesting apples with the speculation of gaining $2, so he will spend up to $1. A wholesale trader, buying from farmer for $2 and he is selling it to retailer for $3. Same thing is happening from retailer to customer for $4. Do you smell pyramid in this ?
Apples have direct use (you eat them), shares give a possibility to profit off a company that produces goods or provides services that have direct use. The price and the number of resellers is irrelevant, so your analogy is neither here nor there. Bitcoin has no use beyond that of a currency (a means of payment for goods and services), and if it is not being used as such, then it is no more than a financial scheme token. Let's face the facts, the vast majority of Bitcoin users are pure profiteers which are paid (or hope to be paid) from the money that new users bring (when the latter buy bitcoins from the former). You may call them whatever name you like (investors, traders, etc), but this won't change a thing...
Just like you never agreeing that Bitcoin is a sort of pyramid scheme
The antiques do not have any real use other than emotional bonding, still they are gaining value over time.
Bitcoins or apples or collectibles are gaining their value due to demand not just due to real usage. Apple will get lower market value on sessions due to over supply yet it will have 'direct use'
There is no demand without usage. You are essentially claiming that demand is a thing that exists by itself while it only reflects how much of
something is desired by buyers at different prices, or, more generally, that something is considered as useful on the whole. Following your logic, though, it could be inferred that the thing which is in demand shouldn't necessarily have any usage, i.e. be useful for attaining an aim, which apparently is complete bullshit. Even demand for Bitcoin has, for the most part, its roots in its usage as a speculative vehicle ("buy low sell high"). I don't think that any rational individual would buy bitcoins without intention of using them for a purpose (whatever it might be)...
Just in case, antiques satisfy emotional and cultural needs of a person, or simply let him feel superior before his friends and companions
