Bitcoin is a Ponzi

[O.Red]

What if it was Elon all along…?

Nah Elon was already Elon

You gotta look at the context at the time

The creation of bitcoin was a response to the financial crash of 2008 where the entire world saw the banks fukk everybody and suffer no consequences. Somebody decided why do they have ALL the power? WE are who they depend on

The other side of it is the transition into digital assets having monetary meta value. This was a period where you had people paying real money for gold in World Of Warcraft. In my opinion this gold mining/purchasing ecosystem was a direct precursor to the creation of bitcoin.

 

[MeachTheMonster]

If you go by the 5 bullet points in the op, then this applies to all stocks and the stock market as a whole.

 

[Mike Nasty]

I did it yesterday, which means if bitcoin goes back up, my winnings will go up

the gambling site, like most gambling sites now only accepts crypto to start, so bitcoin was needed, not a medium, otherwise i would of just used my debit card

It's still the medium.

 

[itsyoung!!]

It's still the medium.

Reread my edited post then shut the fukk up

 

[Mike Nasty]

Reread my edited post then shut the fukk up

So it's a medium you are using to avoid taxes

 

[itsyoung!!]

So it's a medium you are using to avoid taxes

are you fukking retarded ? You still pay taxes. You just legally dont need to say where you got the money from

 

[Absolut da poet ®]

If you go by the 5 bullet points in the op, then this applies to all stocks and the stock market as a whole.

In reality the market as a whole is complete bullshyt

Those valuations on companies are based mostly on smoke & mirrors and the prices are inflated beyond belief

Small events should not affect prices across the board but they (small investors) know that money is always at risk because it's based on bullshyt so they're ready to sell at the drop of a hat to avoid holding the bag when the shyt hits the fan
and it's mostly bots controlling the movement cause corporations own such large blocks of shares

The Dollar is bullshyt too America is broke

The whole system is based on faith , status quo & Greed

 

[Red11]

are you fukking retarded ? You still pay taxes. You just legally dont need to say where you got the money from

You SHOULD pay taxes. I don't @Mike Nasty. Otherwise, I'd pick BetMGM or fanduel. Mostly I convert to #Monero so I don't have to worry about the fed watching.

 

[Save $ not Hoes]

are you going to buy in the next dip?

Yeah. What kinda question

 

[Mike Nasty]

are you fukking retarded ? You still pay taxes. You just legally dont need to say where you got the money from

Yeah, hence the word avoid dummy

 

[MeachTheMonster]

In reality the market as a whole is complete bullshyt

Those valuations on companies are based mostly on smoke & mirrors and the prices are inflated beyond belief

Small events should not affect prices across the board but they (small investors) know that money is always at risk because it's based on bullshyt so they're ready to sell at the drop of a hat to avoid holding the bag when the shyt hits the fan
and it's mostly bots controlling the movement cause corporations own such large blocks of shares

The Dollar is bullshyt too America is broke

The whole system is based on faith , status quo & Greed

Yup. shyts despicable

 

[itsyoung!!]

Yeah, hence the word avoid dummy

I dont think you fully understand what im saying. Online gambling is mostly illegal , really only in America , as example. If you gamble on a crypto currency site , that is legal almost every where else in world, and you win, you can currently claim it as income (although the act of gambling on these sites is illegal, in America). But you dont need to report to the IRS how you acquired these new funds. Due to current laws. The power of crypto. Are you following along yet?

So which part of this is pyramid scheme?

 

[Red11]

I dont think you fully understand what im saying. Online gambling is mostly illegal , really only in America , as example. If you gamble on a crypto currency site , that is legal almost every where else in world, and you win, you can currently claim it as income (although the act of gambling on these sites is illegal, in America). But you dont need to report to the IRS how you acquired these new funds.

So which part of this is pyramid scheme?

Only when you try to exchange to fiat outside of Person to person transfer. If you use coinbase, binance, crypto.com, Kraken, or Gemini. They send a 1099 over 20k.

 

[GoldenGlove]

Stock has value because companies have cashflows and underlying assets with objective market value. Excess cash flows are distributed as dividends or reinvested into capital.

So companies that don't pay out dividends are scams and ponzi schemes correct?

 

[Red11]

So companies that don't pay out dividends are scams and ponzi schemes correct?

What he isn't understanding is that many are speculative investments as well. Tesla was DEFINITELY speculative given they didn't make money for YEARS. It was based on a good idea and speculation, no profits, no incredible earnings reports.