Bitcoin is a Ponzi

[EndDomination]

El Salvador IT IS THE NATIONAL CURRENCY.

El Salvador is lead by a retarded millennial tech bro
This is not something I would advertise as a showing of validity.

 

[Red11]

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.

Not in 500 B.C........ non-sequitur.

But to play your game, platinum is EXCEEDINGLY more rare but does not demand Golds price. We all know why.

 

[Bboystyle]

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.

no shyt, its a peer to peer system. But the system is used legitimately world wide by companies and common folks.

Every fukking investment have qualities of a Ponzi scheme, it doenst make it one. So wtf is the point of this thread again?

u legit had this thread titled "Bitcoin is a ponzi" (which it aint)

and now u saying bitcoin is not a scam (which a ponzi is)

WTF is this thread doing alive and not bushed?

 

[lib123]

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?

Hey emotional fool, those companies accepted deposits to and from Madoff securities. If they can make money off the transactions and it's not illegal, they will do business with it. It's clear as day you didn't read the Common Objections in the article. Companies accepting Bitcoin doesn't prove anything. They don't have a material amount of it on their balance sheets. If it goes to $0, they'll lose very little. Unlike fools like you.

And again, Bitcoin has ponzi characteristics as far as how it derives its value from new investors purchasing from old investors without an underlying quantifiable cash-flow generating source independent from new investors paying old investors.

 

[Bboystyle]

Are you serious?


Those companies aren’t noble. If they can finesse some fees from somewhere they’re going to do it

are u serious? bitcoin is not a damn ponzi.

We has WOAT users in here now

 

[Red11]

El Salvador is lead by a retarded millennial tech bro
This is not something I would advertise as a showing of validity.

Showing of its use as a currency. That was the argument.

 

[CrimsonTider]

are u serious? bitcoin is not a damn ponzi.

We has WOAT users in here now

In effect it is a damn ponzi

it requires new money to be put in for older investors to get some type of return

if people start investing in Jordan’s instead of Bitcoin for the next few months Bitcoin returns to correct value of 0

 

[Eternal Tecate]

because it's not a currency, that's the entire argument

they say BTC is money, but nobody uses it has money, they say USD losses value, but Bitcoin is only valuable in USD, the whole point of buying it is to wait your turn in the pyramid and cash out for USD, so if USD loses value so does bitcoin because you have to convert to USD in order to actually have money lmao

Down the line this may not be the case

 

[Bboystyle]

Hey emotional fool, those companies accepted deposits to and from Madoff securities. If they can make money off the transactions and it's not illegal, they will do business with it. It's clear as day you didn't read the Common Objections in the article. Companies accepting Bitcoin doesn't prove anything. They don't have a material amount of it on their balance sheets. If it goes to $0, they'll lose very little. Unlike fools like you.

And again, Bitcoin has ponzi characteristics as far as how it derives its value from new investors purchasing from old investors without an underlying quantifiable cash-flow generating source independent from new investors paying old investors.

In effect it is a damn ponzi

it requires new money to be put in for older investors to get some type of return

if people start investing in Jordan’s instead of Bitcoin for the next few months Bitcoin returns to correct value of 0

 

[Eternal Tecate]

. Bitcoin was made to be used as an alternative to avoid taxes and to allow transactions between various groups.

Now these groups have now created the eco system for their to be a back and forth. When the first retail store allowed bitcoin is when they Laundered the money.

They bum rushed the door and agencies can't even keep track of it because it's now mainstream.

That's why there's so many derivatives of some non sense crypto currency.

It all boils down to circumvention of some type of authority. Meanwhile USD is accepted every where and is the standard and will be for a long time.

I really don't see bitcoin becoming a standard in our lifetimes.

All currencies are divided by USD. That means the dollar bill remains supreme and all transactions end up being USD.

Everything else a convulated way to wash it back into USD.

It's all drug money. I wouldn't be surprised if you find bitcoin tags on human beings used to be human suitcases through airports.

I know I seen people tattoo with permanent qr codes 10 years ago and people were scanning the hell out that bytch

The US dollar becomes less relevant internationally every day

 

[ORDER_66]

What is up with you people on a black website prescribing us to indentured servitude? Bitcoin is good and needed.

Its crazy I Made a thread on black people buying into cryptocurrency higher than other ethnic groups and then nothing but haters came with negative bullshyt... these muthafukkas crabs in the Barrell frfr it's sad... if you into crypto there is always risks but the rewards are great

 

[CrimsonTider]

I thought people treated bitcoin like a lottery ticket

there’s actually people that believe it’s the future of commerce

 

[Vandelay]

It is a ponzi, but until government does something about it, why would Joe Schmoe stop investing in it.

It's literally playing the PowerBall, with a higher likely outcome of actually winning something.

I used to be anti-crypto heavy, but it is seemingly becoming viable. It'll never be a consistent reserve in the real world, but with the emergence of NFT's, virtual real estate, and the Metaverse, the possibilities are endless.

Fake virtual money can buy fake virtual things, all of which we are giving more and more value to everyday.

 

[ORDER_66]

I thought people treated bitcoin like a lottery ticket

there’s actually people that believe it’s the future of commerce

It's literally DIGITAL currency the idea was gonna happen in our world with a very fast growing technological age... you KNOW this, why you acting stupid for???

 

[Bboystyle]

watch out guys, Gold is a ponzi because its only worth what someone wants to pay for it.

Yall dumb as hell. Bitcoin is used to invest in because of the way it system works. People are investing thinking its the future of how currency will move digitally. Bitcoin was not made to double your money or even advertised as one to invest in like Ponzi schemes. The creator himself said this but lets go based off of Coli experts.