My brain needs some serious re-wiring to understand this. So are the miners the ones that are making all the money off the rake of each transaction?
Bitcoin is a Ponzi
- Thread starter lib123
- Start date
Purely speculative instruments with no underlying real capital - yes.You can say that about anything speculative.
Lol not even a little.
Bitcoin could worsen Black people's finances when the bubble bursts, just like subprime mortgages did.
I want to get bitcoin for the simple fact that it's the 2021 and theres no 24/7 banking.. no wire transfers on the weekend and 3 days for a ACH transfer.
my only hesitancy is figuring out redundancy/failsafe's for keeping it secure.
On a air-gapped computer print 3 sheets of a paper wallet. Laminate them and keep them in a safe place. Bury them for all I care and keep the receiving address. When you want to add to it just scan the receiving address and keep adding.
Bboystyle
Bang Bang Packers gang!
i Know more about what a Ponzi is then whatever wack source or opinion u are using.
U think companies would bother with a ponzi scheme? Amex, Visa, Robinhood trading platform, an entire country (el salvador), millions of companies world wide...They all use bitcoin as a means to transfer funds to and from.
I mean u gotta be mentally retraded to say bitcoin is a Ponzi Scheme or u just flat out dont know what one is.
Bboystyle
Bang Bang Packers gang!
and here we go. I knew there was some dumb ass reason for this retarded ass thread...
Mods, bush this bait ass thread
He's done this all year long. Quiet as a mouse when market is humming along, then any time there's a big dip he comes in looking for attention.
Last time we heard from him he said btc was going to 10-15k, the market was going to crash before Labor day. When labor day came and went he just doubled down on his foolishness.
He's one of those "the housing market is about to crash" "the stock market is about to crash" types. No actual analysis or anything just blowing the same tune every month for years like he's some oracle.
I first started commenting in May of this year. Not looking for attention at all, just sharing my outlooks. Y'all are about to get really humbled soon though.
I never said companies are a ponzi scheme. The article I referenced clearly explains why companies aren't similar to ponzi schemes in the way Bitcoin is. Sounds like you lack reading comprehension.
Bboystyle
Bang Bang Packers gang!
lol at humbled.
Bitcoin has had a bubble burst time and dipped in the low thousands...And then rised right the fukk back up to new highs.
I mean, saying this bubble is going to burst is fukking common sense because EVERYTHING is inflated including the housing market.
This nikka really thought he had something going here
Gold has a literal use in manufacturing and production. It’s long term treatment as a store of value comes from both its use in production, as well as its shared cross-cultural understanding as a rare substance.
Bboystyle
Bang Bang Packers gang!
hey idiot, those companies USE bitcoin and accept its method payment and proccessing. Can u read or are u just gonna move goal posts now?
u telling me those companies are using a Ponzi scheme to move their funds world wide?
Call Bitcoin, something thats been around for 12+ years ands still growing, a scam brehs
coli is on a new low
2006: "Call Madoff securities, something that's been around for 40+ years and still growing, a scam brehs"
No one said Bitcoin is a scam as far as being fraudulently illegal. It has ponzi characteristics in that the vast majority of its value derives from new investors paying a higher price than old investors.
You get a tangible substance from mining gold.
Are you serious?
Those companies aren’t noble. If they can finesse some fees from somewhere they’re going to do it