Remember when the coli first discovered crypto currency and brehs were about to cop lambos and shyt?

[lib123]

What's funny is that bitcoin did crash a few times since it was created but it never went back to its initial rates.
You can bet shortly after it hits...let's say 5000k people will jump on it again and the rate will skyrocket once more
It's like the perfect self-sustaining bubble
It will balloon and shrink but never hit its initial rates...until there are no coins left to mine. Then may be we'll actually figure out what this whole thing was about
satoshi makamoto likely has something up their sleeve with all the bitcoins they reserved for them

How do you know it will continuously bounce back like it has in the past? The bounce back from 2019 lows was sparked by massive global stimulus and the influx of new investors. Unless you expect more new investors and larger stimulus, the future of Bitcoin is far from certain. That’s why it has ponzi characteristics, it needs more and more new investors to go higher. And rising interest rates will put further downward pressure.

 

[the bossman]

How do you know it will continuously bounce back like it has in the past? The bounce back from 2019 lows was sparked by massive global stimulus and the influx of new investors. Unless you expect more new investors and larger stimulus, the future of Bitcoin is far from certain. That’s why it has ponzi characteristics, it needs more and more new investors to go higher. And rising interest rates will put further downward pressure.

Except that is exactly what is happening. More institutions are buying crypto and it's being driven by the fact that govt is continuously debasing the value of the dollar from all the stimulus. Unless you expect the govt to shift their monetary policy and stop debasing the value of the dollar, then bitcoin will continue to be seen as that answer

 

[the bossman]

12 years? Bernie Madoff's scheme lasted longer than that.

How long was Bernie Madoffs scheme? So we can bump this thread after.

 

[concise]

How long was Bernie Madoffs scheme? So we can bump this thread after.

The Bernie Madoff Story

It is not certain exactly when Madoff's Ponzi scheme began. He testified in court that it started in 1991, but his account manager, Frank DiPascali, who had been working at the firm since 1975, said the fraud had been occurring "for as long as I remember."

If you have faith in this site lasting much longer, be my guest.

 

[lib123]

Except that is exactly what is happening. More institutions are buying crypto and it's being driven by the fact that govt is continuously debasing the value of the dollar from all the stimulus. Unless you expect the govt to shift their monetary policy and stop debasing the value of the dollar, then bitcoin will continue to be seen as that answer

The institutions are buying crypto to capitalize on more investors buying crypto via financial productions and transaction fees. It's a feedback loop largely sparked by ordinary investors, not institutions. After the last bubble burst in 2018 when ordinary investors pulled back, institutions pulled back. And crypto hasn't demonstrated itself as a hedge against inflation, it's declined significantly while inflation remains elevated.

 

[the bossman]

And crypto hasn't demonstrated itself as a hedge against inflation, it's declined significantly while inflation remains elevated.

Have you actually looked at a chart of the last 10 years to see how wrong that is or are you just trying to cherry pick these little one month volatile moments to fit your shaky narrative?

Google any crypto chart of BTC over the last 10 years or 5 years to see whether or not it's beat inflation

 

[lib123]

Have you actually looked at a chart of the last 10 years to see how wrong that is or are you just trying to cherry pick these little one month volatile moments to fit your shaky narrative?

Google any crypto chart of BTC over the last 10 years or 5 years to see whether or not it's beat inflation

Inflation was at historic lows over the last 10 years, almost every asset beat inflation. Crypto hasn't been tested as a hedge during an inflationary period, until now. There's no proven correlation between inflation and crypto over an extended period of time.

 

[Fly]

Lol that doesn't even make sense, an individual can't be their own echo chamber. Just because I occasionally offered different POV isn't a reason to get banned. You all just don't want a negative opinion because crypto is reliant on gaining new investors to pump it higher, just like a ponzi scheme. But it's all gonna come crashing down very soon.

I don’t think that you realize that no one cares. Public perception trumps all. If your entire argument as to why Bitcoin will fail is because people will “wake up” to the fact that it is a ponzi scheme, I’ve got bad news for you. Everyone already knows. It’s potential for upwards price movement is all people care about. On the surface, people see crypto as an opportunity to generate an attractive ROI. That’s all it needs at this point. Plus, multi billionaires, trillion dollar companies and banks are just now starting to legitimatize crypto and adapt. It’s too big to fail at this point. Far too many very wealthy people are heavily invested.

And anyone claiming that Bitcoin and crypto lacks an “intrinsic value” does not have a clear understanding of what Bitcoin and cryptocurrencies are. I’d argue that intrinsic value doesn’t even exist but I digress. No, you can’t use altcoins to buy a burger from McDonald’s. That doesn’t mean anything. A coin/token’s value is tied to its platform and its platform’s potential, the same way that a company’s stock price is tied to its current and future outlook. If people use that crypto’s platform, then the crypto tied to that platform has an intrinsic value, the same way that people buying apple’s products gives its stock an intrinsic value. Not every crypto is a copy of Bitcoin or its protocol, like everything you’ve posted in this thread suggests.

 

[the bossman]

Inflation was at historic lows over the last 10 years, almost every asset beat inflation. Crypto hasn't been tested as a hedge during an inflationary period, until now. There's no proven correlation between inflation and crypto over an extended period of time.

First you say bitcoin declined significantly against inflation. Now it's bbbut every asset beat inflation.

So at what time period will make it valid in your eyes? 10 years? 20 years?

 

[Silver Surfer]

They still haven't copped lamb's and mansions....

 

[lib123]

I don’t think that you realize that no one cares. Public perception trumps all. If your entire argument as to why Bitcoin will fail is because people will “wake up” to the fact that it is a ponzi scheme, I’ve got bad news for you. Everyone already knows. It’s potential for upwards price movement is all people care about. On the surface, people see crypto as an opportunity to generate an attractive ROI. That’s all it needs at this point. Plus, multi billionaires, trillion dollar companies and banks are just now starting to legitimatize crypto and adapt. It’s too big to fail at this point. Far too many very wealthy people are heavily invested.

And anyone claiming that Bitcoin and crypto lacks an “intrinsic value” does not have a clear understanding of what Bitcoin and cryptocurrencies are. I’d argue that intrinsic value doesn’t even exist but I digress. No, you can’t use altcoins to buy a burger from McDonald’s. That doesn’t mean anything. A coin/token’s value is tied to its platform and its platform’s potential, the same way that a company’s stock price is tied to its current and future outlook. If people use that crypto’s platform, then the crypto tied to that platform has an intrinsic value, the same way that people buying apple’s products gives its stock an intrinsic value. Not every crypto is a copy of Bitcoin or its protocol, like everything you’ve posted in this thread suggests.

Did you read my earlier post linking to an article on crypto being a ponzi scheme? Yes, it can go higher and people can make money. That doesn’t take away from it being ponzi-like. And tons of wealthy people and institutions get swept up in bubbles too. None of this is new. Please research bubbles.

 

[lib123]

First you say bitcoin declined significantly against inflation. Now it's bbbut every asset beat inflation.

So at what time period will make it valid in your eyes? 10 years? 20 years?

I said bitcoin hasn’t demonstrated that it’s a hedge against inflation during a prolonged inflationary period. Bitcoin beat inflation when every asset class was beating inflation because inflation was extremely low. But I guess you’re more knowledgeable about financial markets than Nassim Taleb.

 

[lib123]

Can't wait until all these charlatans get crushed. Of course they'll probably disappear.

 

[lib123]

First you say bitcoin declined significantly against inflation. Now it's bbbut every asset beat inflation.

So at what time period will make it valid in your eyes? 10 years? 20 years?

 

[BushidoBrown]

They still haven't copped lamb's and mansions....

an overwhelming majority of ppl dont see that type of loot. investing is mostly slow growing type of money. they gon learn eventually