Bitcoin is a Ponzi
- Thread starter lib123
- Start date
Tres Leches
Empire Business
Tres Leches
Empire Business
so you're saying the bubble will pop and bitcoin will go down to 2k?At the car dealership this morning. Old head in his 60's who looks like he struggles to turn on a computer was wearing this exact hoodie talking to the chick at the desk about "Have you heard of the new trend?? Write your number down, I can teach you how to make some money"
https://www.bitcoinrodneyshop.com/product-page/br-all-over-hoodie
If youre just about making money go ahead good luck. But people acting like this is anything close to legit are pure fools. Tech CEOS,hedge funds, ex-convicts and coli brehs all getting rich together...sure. Never seen a more obvious bubble...
i never really paid attention to crypto..should i invest now
use bookmaker brehNah Elon was already Elon
You gotta look at the context at the time
The creation of bitcoin was a response to the financial crash of 2008 where the entire world saw the banks fukk everybody and suffer no consequences. Somebody decided why do they have ALL the power? WE are who they depend on
The other side of it is the transition into digital assets having monetary meta value. This was a period where you had people paying real money for gold in World Of Warcraft. In my opinion this gold mining/purchasing ecosystem was a direct precursor to the creation of bitcoin.
Ozymandeas
Veteran
Bitcoin is not a Ponzi scheme. You can argue its a bubble but, that's all.
A ponzi scheme is where no value is created, there is no business and you're taking new investor money to pay off the older investors.
Bitcoin is not that. Its value is being a medium to send money w/o going through intermediaries. Because it has limited supply, people have increased the unit value of it. But if the entire world stopped fukking with Bitcoin, the system would still exist. It would just go back to trading for ten cents a coin or five cents a coin or whatever. In a ponzi scheme, if new money stopped flowing in, it would all crumble, and there would be nothing left because there was never an underlying business; you were just taking money from person B to pay off person A. For example, Bernie Madoff didn't have a business after his scheme became public. Because there was no legitimate activity going on. He was simply stealing people's money. THAT'S A PONZI SCHEME.
A ponzi scheme is where no value is created, there is no business and you're taking new investor money to pay off the older investors.
Bitcoin is not that. Its value is being a medium to send money w/o going through intermediaries. Because it has limited supply, people have increased the unit value of it. But if the entire world stopped fukking with Bitcoin, the system would still exist. It would just go back to trading for ten cents a coin or five cents a coin or whatever. In a ponzi scheme, if new money stopped flowing in, it would all crumble, and there would be nothing left because there was never an underlying business; you were just taking money from person B to pay off person A. For example, Bernie Madoff didn't have a business after his scheme became public. Because there was no legitimate activity going on. He was simply stealing people's money. THAT'S A PONZI SCHEME.
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the bossman
Superstar
Yes. OP says it will be going down to 15k or less by end of this month
ORDER_66
I am The Wrench in all your plans....
Ozymandeas
Veteran
Similar dynamics are at play in the stock market breh. Tesla at one point had a 1300 PE ratio
With the Fed jamming trillions of QE in the markets, everything is artificially high. The only difference with crypto is there's no one there officially to cut the water off. At best, its indirectly tied to market sentiment. When rates are low, stocks are high, people then get greedy and crypto starts flying, we haven't seen a true recession with crypto but, i'd wager a high rate environment and market panic would kill crypto just like it would stocks. Either way, yall confusing bubbles with ponzi schemes. At one point, people traded tulip bulbs. Selling them for what houses cost. Was that a ponzi scheme? No. People were just dumb and overbidding stuff up trying to get rich like always. You can still buy tulip bulbs today. Just not for $300,000. That was a bubble. Same question for diamonds. Are they a ponzi scheme? No. They're just artificially overvalued because diamond companies restrict supply. imo...a bubble is when something is pumped far past what it would be worth naturally. But if it still exists after the market craze stops, its not a ponzi. A ponzi scheme is when something doesn't even exist. If I tell @Mowgli I can turn his $10,000 into $20,000 but, that extra $10,000 is really coming from @bdizzle because I promised him the same thing....i have no business and just finessing....thats different than people overbidding the price of Bitcoin from ten cents to $50,000 because if they all left, Bitcoin would still be able to send money around the world to the computers hosting the network but, if I stopped finding Coli posters to rob, I'm finished.shyt went back over 50k and they disappeared
You don't understand what a bubble is, that's why you gonna lose everything, but you don't have any real bread in bitcoin you just capping
ORDER_66
I am The Wrench in all your plans....
u is funny
like people not educated enough to know what a bubble is. everything in life is a risk. WE KNOW bruh... we know...
bitcoin and eth are definite securities that i wouldn't worry about. they're about as stable as stocks, obviously their volatility is different than the stock market's volatility, but stocks can also be volatile.
but you can literally see cultish behavior/posts in this thread about nfts and shytcoins. (probably from people who own them and will only see profit if you also dive in and pump the price)
that's the real "ponzi"/MLM aspect of crypto.
i know that talk offends some of yall though so w.e, but just know that's not an investment, it's a literal crypto casino gamble.
but you can literally see cultish behavior/posts in this thread about nfts and shytcoins. (probably from people who own them and will only see profit if you also dive in and pump the price)
that's the real "ponzi"/MLM aspect of crypto.
i know that talk offends some of yall though so w.e, but just know that's not an investment, it's a literal crypto casino gamble.
u is funny
Know he was talking about the price is if that matters, you obviously don't know, but yall not real bitcoin holders yall don't have hundreds of thousands or milllions in it, those are the people who will be on suicide match yall too broke to matter
ORDER_66
I am The Wrench in all your plans....
I'm gonna be sitting nice regardless of whether I brought bitcoin or not. Altcoins pay off too..
it is what it is breh... dont be so tunnel visioned.