Comment: Pretty good description of Bitcoin:

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Pretty good description of Bitcoin:

(NaturalNews) John, Mary and Kate are three "investors" who are buying bitcoins. Each time one of them buys a bitcoin, the value of bitcoins rises due to increased demand.

John got in early and bought 10 bitcoins for $1 each. So John's investment is a total of $10.

Mary got in a month ago and bought 10 bitcoins for $20 each. So Mary's total investment is $200.

Kate just bought her bitcoins, purchasing 10 of them for $200 each. So Mary's total investment is $2,000.

The total amount of their combined purchases as $10 + $200 + $2000, or a grand total of $2210.

But the three of them, in total, THINK they have a grand total of $6,000 worth of bitcoins because ALL the bitcoins they purchased are now "valued" at the most recent purchase price of $200.

In other words:

John currently owns 10 bitcoins valued at $200 each, so John thinks he's got "$2,000 worth of bitcoins" in his account.

Mary's 10 bitcoins are also valued at $200 each, so Mary thinks she's got "$2,000 worth of bitcoins."

Kate's bitcoins are also worth $200 each, so Kate has $2,000 worth of bitcoins.

In total, these three people believe they have $6,000 worth of bitcoins.

Yet, they only "invested" $2210.

Somehow, $3,790 in "value" was created out of nothing.

Where did this extra $3,790 come from?

Answer: It doesn't exist. It is an illusion.