Bitcoin is a Ponzi

[Hollywood Co]

No when you sell Bitcoin, you sell it to someone anticipating a rise in value. People aren’t buying it to use as currency. While people speculate on currencies, the vast majority exchange currencies to use as a medium of exchange or stable store of value. Bitcoin’s rise has been driven by speculation. Speculation without tangible underlying cash-flows derived from an finished product or service.

Sounds similar to any item that is traded with the anticipation of appreciation such as art, trading cards, vehicles, jewelry, parcels of land. The only difference is that these products are tangible (can be touched and seen) and that Bitcoin exists in the digital space.

If you open your prospective to what a mostly/totally digital world looks like, Bitcoin is a mainstay from a societal standpoint and brings value for advancing the world in that respect much like gold when it was first discovered.

All investments are speculative with buy-in from the public via purchase/trade/barter being the only reason any investment maintains or appreciates in value.

 

[lib123]

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.

The USD is intentionally depreciated by keeping rates low. If Fed lifted rates, USD would skyrocket in value overnight. I’m not representing Bitcoin at all. It has potential, but vast majority of new investors aren’t investing in Bitcoin for its potential. They’re seeking exponential returns.

 

[Eternal Tecate]

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.

You dont even know about stock buy backs and you're trying to lecture us

 

[lib123]

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 back 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.

I understand how all assets derive their value. Bitcoin’s exponential increase in value during Covid hasn’t derived from an increase in usage. I’m not saying crypto doesn’t have value. My point is most of its current value has correlated with an increase in the speculation on its price.

 

[lib123]

You dont even know about stock buy backs and you're trying to lecture us

Lol I’m very familiar with stock buybacks. Many on this thread aren’t familiar with bubbles, and it shows.

 

[lib123]

Anything in trade only holds value to whom believe in the particular party


Sounds similar to any item that is traded with the anticipation of appreciation such as art, trading cards, vehicles, jewelry, parcels of land. The only difference is that these products are tangible (can be touched and seen) and that Bitcoin exists in the digital space.

If you open your prospective to what a mostly/totally digital world looks like, Bitcoin is a mainstay from a societal standpoint and brings value for advancing the world in that respect much like gold when it was first discovered.

All investments are speculative with buy-in from the public via purchase/trade/barter being the only reason any investment maintains or appreciates in value.

The difference is the primary motivator for most people acquiring those assets isn’t the appreciation of price. Cash flows are exchanged or derive from those assets with non-speculative motivations. Vast majority of crypto is acquired with the primary goal of price appreciation.

 

[Eternal Tecate]

I understand how all assets derive their value. Bitcoin’s exponential increase in value during Covid hasn’t derived from an increase in usage. I’m not saying Bitcoin doesn’t have value. My point is most of its current value has correlated with an increase in the speculation on its price.

And most of that price increase has been driven by inflation fears.

But another thing that happened during this pandemic is people were able to sit and read on the internet all day. People see that a lot of things in our society have to change, the financial system being one of them. Lots of people are ready for something new and are willing to take chances on new interesting ideas.

Another thing is more and more people are getting more and more desperate, and when you have nothing to lose it's easier to gamble. Finance capitalism has created a lot of desperate, indebted people.

 

[lib123]

I’ll be back later this month after the crash. Peace out.

 

[ORDER_66]

I’ll be back later this month after the crash. Peace out.

Why you leaving so soon muthafukka???!! stay and enjoy the show

 

[hatealot]

Crypto is a front for all the drug money made on the dark markets
Point blank. They made millions when the coin was 300 a pop.

Fast forward

There's prob legit billionaires from the drug trade from bitcoin.

nikkas was selling kilos of everything.

Mdma from Netherlands

Coke from Mexico.
Coke from Colombia with the legit stamps

Weed from LA. That's why the price of sour dropped so quick on the east coast.

Nobody can change my mind on this.

 

[Tres Leches]

Crypto is a front for all the drug money made on the dark markets
Point blank. They made millions when the coin was 300 a pop.

Fast forward

There's prob legit billionaires from the drug trade from bitcoin.

nikkas was selling kilos of everything.

Mdma from Netherlands

Coke from Mexico.
Coke from Colombia with the legit stamps

Weed from LA. That's why the price of sour dropped so quick on the east coast.

Nobody can change my mind on this.

you dont need crypto for this



Drug Cartels Used Australian Banks to Launder $380m

 

[Master Teacher]

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.

What you don't understand is nobody uses Bitcoin like this, sending money to someone with bitcoin the fees are too high you can just send them USD

People only buy bitcoin so the price can go up and they cash out into USD, it's not money, it's not currecny

Nobody buys anything in bitcoin outside of black market transactions

Nobody puts money in bitcoin in hopes to use it to make a purchase on something lmao

 

[Tres Leches]

What you don't understand is nobody uses Bitcoin like this, sending money to someone with bitcoin the fees are too high you can just send them USD

People only buy bitcoin so the price can go up and they cash out into USD, it's not money, it's not currecny

Nobody buys anything in bitcoin outside of black market transactions

Nobody puts money in bitcoin in hopes to use it to make a purchase on something lmao

its cheaper for me to send a friend or family member thats in another country some bitcoin than using western union or making a wire transfer

 

[High quality poster]

What you don't understand is nobody uses Bitcoin like this, sending money to someone with bitcoin the fees are too high you can just send them USD

People only buy bitcoin so the price can go up and they cash out into USD, it's not money, it's not currecny

Nobody buys anything in bitcoin outside of black market transactions

Nobody puts money in bitcoin in hopes to use it to make a purchase on something lmao

You speak with such certainty


You now have have athletes and other high profile figures taking whole contracts in btc.

 

[Tres Leches]

You speak with such certainty


You now have have athletes and other high profile figures taking whole contracts in btc.

trevor lawrence , odell beckham jr must be drug dealers breh