Bitcoin is a Ponzi
- Thread starter lib123
- Start date
the bossman
Superstar
The bitcoin can literally be used for whatever you want. Apart from selling it for fiat you can also sell it for other assets like real estate or gold. You can lend it out for yield.
You have too many flawed arguments for one to take you seriously
Lol that’s not true at all, vast majority are buying Bitcoin to speculate.
This...use the profits for whatever you want. This is a weird argument.
Tres Leches
Empire Business
the bossman
Superstar
This is how people completely miss the boat. There's no widespread adoption yet just this year Visa and Mastercard are in the midst of changing their entire payment rail systems to accommodate crypto. All for a bubble right?
Government has created actual laws to allow banks to start offering crypto services to their customers.
TWO extremely successful Fortune 100 companies, the likes of Facebook and Square have refocused their entire business models towards crypto. For a bubble? A scam? A get rich quick scheme? These nikkas could've kept shyt the same and still been making money yet they're pivoting their whole businesses. Changing their names? You havent stopped to actually ask why
cot damn how much clearer can it beYou would think people would be curious enough to stop and ask questions to see what this shyt is really about.
Some yall just not gonna get it til 20 years from now.
88m3
Fast Money & Foreign Objects
this is laughable
NotAnFBIagent
[redacted]
The US dollar loses value every month to inflation. It's at an all time low.
It's fine if you don't believe in Bitcoin's principles, but don't misrepresent what it is.
I've always felt it was a scam, it's pretty transparent... just look at the people who push it so hard and particularly online, nothing more than MLM lingo
non believers will be humbled and shut the fukk up when people stunt on them.... gotta learn the hard way I guess
You have many flawed takes. Bitcoin hasn’t demonstrated a widespread daily use case. Most of the value of Bitcoin doesn’t derive from widespread usage. It’s value derives from people speculating on its appreciation. Anyone denying that is ignorant or intentionally deceptive.
Wargames
One Of The Last Real Ones To Do It
Its weird. It was originally a useful way to buy drugs. Then it became a viable way for criminals (and the governments they are backed by) to get around Western governments monitoring or seizing their assets. Now it’s a penny stock with a legitimate market of Buyers.
I don’t think it’s a Ponzi scheme, in the traditional sense. At least not Bitcoin and Etherium. I am pretty sure someone could create a coin and do a individual Ponzi scheme. I think Lebron’s son got caught up in something related to that and NFT’s are starting to see that occur. However, no it operates as a penny stock with a consistent group of buyers. Unless the buyers stop buying it is not an inherent Loss to invest in Bitcoin or Etherium. It’s just a very volatile investment vehicle similar to penny stocks and people not knowing how risky that is are probably investing into them too heavily. It doesn’t take much for a fortune to be loss or gained with Penny stocks. We saw that when Musk decided to manipulate the market and likely scored some millions off the books by first praising and then shytting on some crypto coins.
Bitcoin and Etherium and maybe a few other might exist for a long time. There is a chance these coins get connected to real assets and become a more traditional form of “stock” and I am surprised we haven’t seen them use as a tool to trade futures where assets (like a crop) are tied to a coin that can be burrowed against it. People who invest in it seem to be down with high risk and low bars for entries (like Penny stocks use to be) so until the market crashes it will likely survive. The example you gave in those tweets is the big risk in being over leveraged in Crypto. If it takes a loss people start a stampede to sell because they are too leveraged in it to wait for the market to correct itself.
Edit: the other risk in penny stocks is some of them never see growth and remain a penny stock. People can put money into this market in a small coin hoping it reaches a specific value and it’s the equivalent of putting your money in a checking account where it won’t see growth, but there is a legit risk it might be loss or stuck due to a lack of buyers. People should diversify their investments in more traditional markets and investment vehicles to guarantee (as much as that is possible) a certain amount of growth.
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This is how people completely miss the boat. There's no widespread adoption yet just this year Visa and Mastercard are in the midst of changing their entire payment rail systems to accommodate crypto. All for a bubble right?
Government has created actual laws to allow banks to start offering crypto services to their customers.
TWO extremely successful Fortune 100 companies, the likes of Facebook and Square have refocused their entire business models towards crypto. For a bubble? A scam? A get rich quick scheme? These nikkas could've kept shyt the same and still been making money yet they're pivoting their whole businesses. Changing their names? You havent stopped to actually ask why
You would think people would be curious enough to stop and ask questions to see what this shyt is really about.
Some yall just not gonna get it til 20 years from now.
Lol it’s so obvious some of you have never experienced a bubble before as an investor or close observer of the dot-com bubble. Major moves were made prematurely for an exponentially more revolutionary invention ( the Internet) and major institutions got it wrong as far as timing. Similar to dot-com bubble, crypto investors are speculating on the speed and depth of cryptos widespread adoption without tangible evidence. The institutions are getting involved because regardless of how widely it’s adopted, there’s still money to be made from transaction fees and financial products. Notice none of these institutions are taking significant crypto holdings on their balance sheets? If they were so confident in its appreciation, you really don’t think they would be taking large positions? Y’all think you’re being smart but really just showing you don’t know how bubbles occur.
Eternal Tecate
Superstar
You dont understand gold. You don't understand bitcoin. You don't understand currency.
Gold is valuable because it stores value everywhere on earth. Its value comes more from its universality than its physical use. Everyone knows what it is. Therefore it's a way to exchange your resources for another resource internationally. Gold isn't as valuable on a local level. The only thing you can do with it is decorate shyt.
Physical money hasn't always been a thing. In fact civilization has oscillated between credit systems and physical currency. The physical currencies tend to rise during periods of war, because you need to pay soldiers, and soldiers move around to different places and need something that's exchangeable everywhere. During credit periods, instead of physical money people have used ledger systems, which basically amount to tally marks to keep track of who owes who what. Not too different from the numbers on your bank app or venmo.
Bitcoin is a global ledger system built on the internet for everyone to see with no middle man. It's a peer to peer payment system that allows people to anonymously send money around internationally without needing to keep their money in a bank. Blockchains have a lot of different uses that you should probably read about. You should also read Debt by David Graeber. You should also look up Michael Hudson Global Financial Empire on YouTube.
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