Damn breh was still going. That $10k ain’t coming breh
Bitcoin is a Ponzi
- Thread starter lib123
- Start date
Stimulus sparked the upswing, which has been gradually fading and will end in bubble bursting.
And people won't start investing in this magical coin that makes people rich when it crashes and becomes more affordable for more people to purchase?
Anyway... it's just amazing to me that you've never even criticized Bitcoin from a technological standpoint. Some people say the transfers are far too slow. Others say the ledger is too big (300GB>) and will only get bigger in the future. Some say the energy consumption is too high....
But you? it's a bubble that will burst
The 2010s called. They want their FUD back.
Most people know Bitcoin will keep rising. The debate now is which altcoin will go higher and earn you more.
And people won't start investing in this magical coin that makes people rich when it crashes and becomes more affordable for more people to purchase?
Anyway... it's just amazing to me that you've never even criticized Bitcoin from a technological standpoint. Some people say the transfers are far too slow. Others say the ledger is too big (300GB>) and will only get bigger in the future. Some say the energy consumption is too high....
But you? it's a bubble that will burst
The 2010s called. They want their FUD back.
Most people know Bitcoin will keep rising. The debate now is which altcoin will go higher and earn you more.
Lol it’s so obvious that you know nothing about past bubbles such as the 2000 dot-com bubble. Time will tell.
@ this getting bushedMasterOfAllHeSurveyz
All Star
Here.
Calling it a "bargain" implies that it has some objective value greater than its current price. Since Bitcoin's utility doesn't remotely justify its current value, you're basically just betting that its value will increase and that you'll be able to cash out on that peak. Which is basically a potshoot. Crypto is a zero-sum game, so all the money made off of Crypto just comes from other folk who lost that money on Crypto. Do you really know for sure you're going to be a winner and not a loser?
As I pointed out last year, there's basically three types of people who gain the profits from Crypto:
1. The early adopters who put in their money on the right ones years ago and know to cash out before it drops
2. The whales who can manipulate the Crypto markets in their favor
3. Investors with inside or other superior info who can play the ups and downs in the market better than anyone else
On the other hand, there are three types losing money on Crypto, who are paying all the money that goes to that first group's profits.
1. The late adopters who are only just now putting in money, basically paying off the winners as they cash out
2. The folk who hold too long and fail to cash out and realize their gains
3. Investors working solely with public info who are reacting to the market and thus always behind it
(That doesn't include, of course, all the people who keep dumping money into new coins and schemes and other bullshyt, who are basically just funding scammers.)
Anyone who wants to make a rational decision should calculate whether they're in the first group or the second group. If you're in the second group then it's not investing, it's just gambling - you're hoping that you get lucky even though the odds are against you and you have no real reason for hope. If you're just playing a game that's fine, but if this is money you need, why would you fukk around like that?
Also at the thread getting bushed just because some bootlickers don't like the conclusion. Even if you think the OP is wrong, what is so frightening about the claim that it can't be discussed? It's definitely a mainstream opinion now held even by some of the prior big players in the crypto scene.
Why bitcoin is worse than a Madoff-style Ponzi scheme
Cryptocurrency ‘Nothing More Than A Pyramid Scheme’, Says Browser Boss
Cryptocurrency Is a Giant Ponzi Scheme
Bitcoin is looking more like a pyramid scheme, and central banks must act
Even the creator of Dogecoin says that crypto has become nothing more than a scam for the wealthy to prey on the masses:
Dogecoin creator says crypto industry financially exploits the vulnerable
at the thread getting bushed just because some bootlickers don't like the conclusion. Even if you think the OP is wrong, what is so frightening about the claim that it can't be discussed? It's definitely a mainstream opinion now held even by some of the prior big players in the crypto scene. Why bitcoin is worse than a Madoff-style Ponzi scheme
Cryptocurrency ‘Nothing More Than A Pyramid Scheme’, Says Browser Boss
Cryptocurrency Is a Giant Ponzi Scheme
Bitcoin is looking more like a pyramid scheme, and central banks must act
Even the creator of Dogecoin says that crypto has become nothing more than a scam for the wealthy to prey on the masses:
Dogecoin creator says crypto industry financially exploits the vulnerable
Also
Why bitcoin is worse than a Madoff-style Ponzi scheme
Cryptocurrency ‘Nothing More Than A Pyramid Scheme’, Says Browser Boss
Cryptocurrency Is a Giant Ponzi Scheme
Bitcoin is looking more like a pyramid scheme, and central banks must act
Even the creator of Dogecoin says that crypto has become nothing more than a scam for the wealthy to prey on the masses:
Dogecoin creator says crypto industry financially exploits the vulnerable
Yeah they all went ghost. Don't mind them. We been knew.
the bossman
Superstar
I be forgetting this thread got bushed. We're approaching almost 1 year that this nikka has been claiming btc will crash to 15k. I gotta set a reminder to up this come labor day
the bossman
Superstar
thread got bushed because he kept "predicting" BTC will crash to 15k since last Labor day. the prediction kept flopping. every month another excuse. then his stimulus theory wasn't holding up anymore.Also
we tried to have dialog about this theory which was full of holes - "BTC only went up because of stimulus checks".
We're approaching Summer 2022. There haven't been any stimulus checks issued in well over 1 year. Inflation is high as hell. With this theory one would've thought that BTC would've crashed back down to pre-covid levels of sub 10k or even 0 since it's a ponzi right? all the covid stimulus is dried up, so by now everyone should've cashed out and sent BTC down to 0 right?
Only response is - 'bbbbut nassim taleb predicted the housing crash and he said this..'
so now all that's left is breh posting gifs and videos anytime the market takes a dip. shyt is comedy
thread got bushed because he kept "predicting" BTC will crash to 15k since last Labor day. the prediction kept flopping. every month another excuse. then his stimulus theory wasn't holding up anymore.
we tried to have dialog about this theory which was full of holes - "BTC only went up because of stimulus checks".
We're approaching Summer 2022. There haven't been any stimulus checks issued in well over 1 year. Inflation is high as hell. With this theory one would've thought that BTC would've crashed back down to pre-covid levels of sub 10k or even 0 since it's a ponzi right? all the covid stimulus is dried up, so by now everyone should've cashed out and sent BTC down to 0 right?
Only response is - 'bbbbut nassim taleb predicted the housing crash and he said this..'
so now all that's left is breh posting gifs and videos anytime the market takes a dip. shyt is comedy
I'm confused because the thread is from Dec 2021 so what does that have to do with labor day? And Bitcoin has lost 50% of its value since Dec 1 of last year so he seems more right than wrong on that note....someone got the thread bushed because it "only" lost 50% of its value instead of 75%?
I completely agree that it was silly of him to try to make exact predictions about how a market of irrational actors will behave with an asset whose price is not based on its underlying value, if that is what he was doing.
But I don't get your point, "inflation is high as hell" - doesn't that make bitcoin's drop look even worse?