Bitcoin is a Ponzi

[Mike Nasty]

I dont think you fully understand what im saying. Online gambling is mostly illegal , really only in America , as example. If you gamble on a crypto currency site , that is legal almost every where else in world, and you win, you can currently claim it as income (although the act of gambling on these sites is illegal, in America). But you dont need to report to the IRS how you acquired these new funds. Due to current laws. The power of crypto. Are you following along yet?

So which part of this is pyramid scheme?

Ugh, so you're using it as a medium to circumvent US online gambling laws, that has nothing to do with whether or not it's a pyramid scheme. In your example your not making the money with bitcoin your using it to make money.

 

[Mike Nasty]

Yeah. What kinda question

At what price are you buying again, I want in too.

 

[bnew]

I want to get bitcoin for the simple fact that it's the 2021 and theres no 24/7 banking.. no wire transfers on the weekend and 3 days for a ACH transfer.
my only hesitancy is figuring out redundancy/failsafe's for keeping it secure.

 

[Kenny West]

It's a bulltrap at this point imo.

All of it's usage cases are in Eth/altcoins, the value is likely near the top from ATH margin leverage trading that will violently end and nobody wants to use it as money.

 

[Kenny West]

I want to get bitcoin for the simple fact that it's the 2021 and theres no 24/7 banking.. no wire transfers on the weekend and 3 days for a ACH transfer.
my only hesitancy is figuring out redundancy/failsafe's for keeping it secure.

You may want to consider eth or read up on Defi altcoins. Bitcoin's blockchain tech is old now and the transaction times take long af.

Coinbase's education page can teach you about all the safety and privacy standards in crypto

 

[TallMan_J]

People with brains saw this when it first became thing

You fukked up the flow of the thread. Ole quick posting ass.

 

[ORDER_66]

I want to get bitcoin for the simple fact that it's the 2021 and theres no 24/7 banking.. no wire transfers on the weekend and 3 days for a ACH transfer.
my only hesitancy is figuring out redundancy/failsafe's for keeping it secure.

That's what Wallets and cold storage is for...

 

[Bboystyle]

Bitcoin is used by legit companies world wide. El Salvador just made Bitcoin a legal tender.

Close this retarded thread and make sure OP stops posting these stupid threads.

Saying Bitcoin is a Ponzi Scheme is about the most dumbest shyt. Its nothing nor close to being one.

If u said the hundreds of shyt coins (aka alt coins) were ponzi schemes then u would have an argument.

@lib123 does not know what a Ponzi Scheme is.

 

[Uitomy]

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

 

[Save $ not Hoes]

At what price are you buying again, I want in too.

Don't matter I just buy up or down. Trying to time it perfect is broke shyt.

 

[lib123]

So companies that don't pay out dividends are scams and ponzi schemes correct?

No companies have underlying cash flows derived from selling goods/services and/or tangible underlying assets (eg factories, materials, intellectual property, etc) that can be sold at market rate if the company fails.

 

[lib123]

What he isn't understanding is that many are speculative investments as well. Tesla was DEFINITELY speculative given they didn't make money for YEARS. It was based on a good idea and speculation, no profits, no incredible earnings reports.

Tesla still had a book value derived from its assets (eg intellectual property, materials, factories, etc). In the event of failure, investors could be paid from those recoverable assets.

 

[lib123]

Bitcoin is used by legit companies world wide. El Salvador just made Bitcoin a legal tender.

Close this retarded thread and make sure OP stops posting these stupid threads.

Saying Bitcoin is a Ponzi Scheme is about the most dumbest shyt. Its nothing nor close to being one.

If u said the hundreds of shyt coins (aka alt coins) were ponzi schemes then u would have an argument.

@lib123 does not know what a Ponzi Scheme is.

Got it, and I guess you know more about finance than Nassim Taleb.

 

[lib123]

It's a bulltrap at this point imo.

All of it's usage cases are in Eth/altcoins, the value is likely near the top from ATH margin leverage trading that will violently end and nobody wants to use it as money.

Exactly, without any underlying assets that can be sold at market value or the backing of a government in theory Bitcoin could go to $0.

 

[lib123]