Bitcoin
Bitcoin
Out of context: Reply #2685
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- DaveO0
I continually find the whole thing very confusing.
Until it has a mainstream practical use that's beneficial, it feels to me like a very strange pyramid scheme, casino, or dare i say religion?
Religion: a lot of investment and faith on something that has no proof or physical evidence, and yet continues to attract people to devote themselves to it.
- Long story short...it's all a Ponzi scheme.utopian
- Are paper notes with numbers printed on them any less confusing?colab
- @colab – no, but as a speculative asset, bitcoin's value is based on "because we all say so" – vs other stocks, commodities or companies that are realDaveO
- I assure you the value of most stocks is not because of the real value of the companynb
- However, you’re right in that companies have some real value, whereas bitcoin has no real valuenb
- Bitcoin is more like Ponzi. Except in a typical Ponzi scheme, only one person knows it’s a Ponzi scheme. Most of us know btc is a Ponzi scheme.nb
- is gold a ponzi?zaq
- No, but diamonds are.nb
- diamonds are a marketing scam, not a ponzi lolgrafician
- If anyone can give me five practical, real-world uses as a currency i'd love to see themDaveO
- great for the black market and doing illegal shit. Also it's like gypsy street hustlers but in digital form._niko
- Five reasons:
1: It’s not
2: other peoplescolab - 3: responsibility
4: to docolab - 5: your research for youcolab
- @colab so very smart, tells me all i need to knowDaveO
- There are plenty of books on the topic. This is a part time design forum/ full time politics opinion dumpster. Does it have to be a finance website too?colab
- the entire stock market is a Ponzi, likewise fiat moneyinteliboy
- my advice, dont take btc advice from this website. note how this thread is dead when its time to buy, gloats when it crashes, and calls it a ponzi wen it pumpsinteliboy
- First thing to discard is that it’s like religion or is based on faith. It’s nothing like that. It’s a traded “commodity” and moves accordingly. Not mysteriousmonospaced
- Like any traded equity (stock, etc), the market dictates the price. Demand increases price, and vice versa.monospaced
- Practical use is not relevant. You can invest in bitcoin, and sell whenever you want for a profit or loss. There is no scam that you can’t predict.monospaced
- As pointed out, if a massive sell off or buy happens (see, whale), the market can shift dramatically and quickly, triggering a buying spree or a sell offmonospaced
- When and if bitcoin prices change, there’s evidence of why. Religion is just believing in supernatural shit, so totally not related.monospaced
- ^ this. keep emotion out of it, trade wisely, give af if it's got utility or not - leave those debates to crypto bro'sinteliboy
- Anyone calling it a scam just has fomo or is too emotional to understand the basics.monospaced