Bitcoin is a Ponzi

[Red11]

And you paid more than what you would be USD to get those things from shady sights

you can't buy for a flight directly from airline with Bitcoin you have to come to some shady third party website and get a delta gift card probably generated by some hacker and paid for with stolen credit cards

also why would you buy gold with bitcoin if bitcoin is the NEW GOLD lmao

yall morons stay telling on yourselves believing in this shyt

For my sports bets its the easiest form of exchange without IRS notification. Coinbase sends a 1099 after 20k of exchanging. They can track me all they want #Monero.

1) Never stated it was long term store of value. I don't believe the dollar is one either. So don't put me in that group.
2) I buy gold before bitcoin and I'm buying gold after bitcoin. I don't care.
3) I buy gift cards. I don't care how they get them.

For those wondering,
APMEX.com for Gold
Travala.com for Flights
Bitrefill.com for Gift Cards.

 

[Secure Da Bag]

Probably. The tech behind it is legit revolutionary, but the speculative market that arose is nasty, no one even cares about the tech anymore.......yet it can make people life changing money, so no one cares whether it's a ponzi or not. Upward mobility is damn near at a standstill, money is worth less than ever, and people aren't getting paid shyt at their jobs; it's no wonder people are willing to play into a more controlled lottery, even if it comes at great expense. You can try to sell people on stocks instead, but you'll never see the kind of return with stocks as you do with crypto, plus the tech isn't going anywhere, so this ponzi is gonna continue for the foreseeable future.

Stocks are as much a ponzi as crypto.

 

[Master Teacher]

For my sports bets its the easiest form of exchange without IRS notification. Coinbase sends a 1099 after 20k of exchanging. They can track me all they want #Monero.

1) Never stated it was long term store of value. I don't believe the dollar is one either. So don't put me in that group.
2) I buy gold before bitcoin and I'm buying gold after bitcoin. I don't care.
3) I buy gift cards. I don't care how they get them.

For those wondering,
APMEX.com for Gold
Travala.com for Flights
Bitrefill.com for Gift Cards.

lmao the dollar isn't a store of value is a currency

as long as the United States exists, you will always be able to use dollars to buy something

crypto lost 9k in value over night, the dollar never loses value anywhere near that fast, the comparison is laughable

crytpo is more comparable to securities than it is to currency

it's like trying to use stock shares as everyday currency, that would be retarded

 

[Red11]

lmao the dollar isn't a store of value is a currency

as long as the United States exists, you will always be able to use dollars to buy something

crypto lost 9k in value over night, the dollar never loses value anywhere near that fast, the comparison is laughable

crytpo is more comparable to securities than it is to currency

it's like trying to use stock shares as everyday currency, that would be retarded

OK...wwwwwweeeelllllll...I use CRYPTO as currency. I am ok with that and I DO NOT CARE WHAT OTHER PEOPLE DO. Check my threads. I have never done what people regularly do. I think Nano would be the most like cash. Instant and fee-less.

Common Places that use Bitcoin:
Overstock.com/PayPal/AT&TStarbucks/CheapAir.com/ Dallas Mavericks Tickets/Anything in stadium

 

[Seoul Gleou]

the entire federal reserve system is a ponzi scheme. and yet your very existence within the US economy depends on it.

stop being butthurt you didnt make money off crypto; it's real, it's here to stay, and if you're not investing, you lose. period.

 

[Save $ not Hoes]

I brought the dip I swear the mods need to start bushing these threads. It makes us look bad.

 

[karim]

OP is correct. The only question is if crypto managed to become too big to fail. There have been ponzis that managed to crash entire economies, but crypto has the potential to crash the World economy, it might have become to big to fail and therefore might be bailed out.

 

[NatiboyB]

I think the issue that’s at hand is no one really cares if it’s a ponzi as long as they profit.

 

[NatiboyB]

What you don't understand is nobody uses Bitcoin like this, sending money to someone with bitcoin the fees are too high you can just send them USD

People only buy bitcoin so the price can go up and they cash out into USD, it's not money, it's not currecny

Nobody buys anything in bitcoin outside of black market transactions

Nobody puts money in bitcoin in hopes to use it to make a purchase on something lmao

Finally right about something

 

[BlackBall]

Bought the dip we’re up

 

[Mike Nasty]

I brought the dip I swear the mods need to start bushing these threads. It makes us look bad.

are you going to buy in the next dip?

 

[O.Red]

Bitcoin is a electronic peer-to-peer cash system

I don't even talk to these type of nikkas no more

Let them find solace in feeling smart fukk it

 

[Hawaiian Punch]

Probably. The tech behind it is legit revolutionary, but the speculative market that arose is nasty, no one even cares about the tech anymore.......yet it can make people life changing money, so no one cares whether it's a ponzi or not. Upward mobility is damn near at a standstill, money is worth less than ever, and people aren't getting paid shyt at their jobs; it's no wonder people are willing to play into a more controlled lottery, even if it comes at great expense. You can try to sell people on stocks instead, but you'll never see the kind of return with stocks as you do with crypto, plus the tech isn't going anywhere, so this ponzi is gonna continue for the foreseeable future.

Pretty much.

 

[levitate]

That Satoshi breh out there somewhere living LAVISHLY.

Smart as fukk to create the coin…smarter as fukk to have done so anonymously.

 

[levitate]

The value is in the time/electricity to acquire a further block. Part of golds price is the mining required to acquire gold and its rarity.

What is the process of “mining”? Explain it to me like I’m 5.
I’ve read a few articles but still don’t get it.
You just use computers to do calculations and shyt? What determines how much you need to “mine” in order to get a return?