Bitcoin is a Ponzi
- Thread starter lib123
- Start date
ogc163
Superstar
Based on history, most likely will
In The Zone '98
Superstar
I'm not even a fan of the coin. But it's "dead" memes kinda gotta stop at some point.
It's been 13 years.
ogc163
Superstar
Bitcoin being dead is not stated or implied in that tweet though.
In The Zone '98
Superstar
My comment was in regards to your sarcasm.
ogc163
Superstar
That still doesn't logically flow though. Respecfully...take a couple of minutes to think before you respond bro, you stay on some scatterbrained tip.
In The Zone '98
Superstar
Nothing more scatterbrained than making fun of an asset that has shown to 3x its ATH every four years or so.
Hope you and yours having a great holiday.
ogc163
Superstar
Great interview.
People in mogadishu are not walking around with their crypto codes to take the trolley into town breh ya'll need to just call this shyt for the casino it is. Its nothing with that. a lot of the stock market is smoke and mirrors too
The crypto hype is essentielly the product of asset inflation as a result of quantitative easing and non existing interest rates. That era is over.Based on history, most likely will
SadimirPutin
Superstar
the bossman
Superstar
He made some great points on the technical side that had me rethinking some of my assumptions. But you can also tell he's got this axe to grind with bitcoin & crypto. Like the "it's great for money laundering and buying drugs" point he keeps going back to over and over. The studies get done every year that show illegal activity is barely 1% of all crypto usage. Reality is most criminals are still using and preferring cash money for illegal activity. so the point is just fearmongering
Would've been better if they had on another academic type who's pro-bitcoin to challenge some of his points. The interviewers really didn't understand it well enough to do it
the bossman
Superstar
The first sentence is kinda true, but it's over? This sounds like how cats said there will never be another bull run after 2017. crypto era was "over" in 2018-19
you would think by now nikkas understand it's a cycle. when all the "crypto is dead" "bitcoin is dead" "it's all a ponzi" articles start running in heavy rotation, it's usually a sign we're close to the bottom
The era of low interest rates and cheap money is over. As a result, the crypto bubble collapsed. For it to inflate again, there would have to be cheap money, but there won't be any for the forseeable future, because central banks keep raising intetest rates to fight inflation.The first sentence is kinda true, but it's over? This sounds like how cats said there will never be another bull run after 2017. crypto era was "over" in 2018-19
you would think by now nikkas understand it's a cycle. when all the "crypto is dead" "bitcoin is dead" "it's all a ponzi" articles start running in heavy rotation, it's usually a sign we're close to the bottom
ogc163
Superstar
He also explained why it doesn't scale from a utility standpoint amongst criminals and child pno, and so I wouldn't say it was a major point of his, nor fear mongering.
And he explained that his main beef revolved around the negative externalities as the crypto bubble has grown larger without any accompanying utility, and so stating he just has an axe to grind is an oversimplification.
There's ample pro crypto ish on YouTube along with crypto debates at this point so I don't think much was missing from there being a pro crypto voice on the podcast. Further its a value investing podcast, debates aren't a part of their format.