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/biz/ - Business & Finance

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1841153 No.1841153 [Reply] [Original]

Why is everyone bullish on BitCoin?

>https://blockchain.info/pools
>China owns all top miners.

Bitcoin is a ponzi scheme owned by the chinese.

China pushes the bitcoin in order to create revenue for these shady corporations who own the biggest miners. Their interest is to trick more and more people to engage in bitcoin transactions in order to create revenue for the Chinese government trough shady bribes and taxes.

Once hash complexity cripples mining (will be sooner the bigger the bitcoin scam gets), they will close the miners, sell off assets and disappear with revenue. All accounts in bitcoin will get useless in a few hours crash very soon.

Only way to keep speculating on BC is to monitor cryptogenic capacity of miners, which is impossible because info from China is not transparent.

Bitcoin is only a very short term bet. Anyone going long on BC is being duped.

Screencap this.

>> No.1841157

So china decided to only make a ponzi only worth 20 billion? You retarded?

>> No.1841164

>its CHINA so its EVIL!!!!!
black hearted thread

>> No.1841166

>>1841153
>Only way to keep speculating on BC is to monitor cryptogenic capacity of miners
While I agree that it's mostly controlled by the chinese at this point, that statement is just fucking retarded. You can look at the overall network hash rate and difficulty on any major bitcoin website.

>> No.1841179

It was natural that mining would centralise in china as nobody can compete with them,if china banned the mining of bitcoins it would just all move to the second cheapest place to mine,they wouldnt be able to enforce a total ban anyway.

>> No.1841180

>>1841164
Look at the link and google the miners

>> No.1841188
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1841188

>>1841180
What does that do? There is nothing wrong with the miners

努力吧,天上不会掉馅饼,成功的人自有道理,不要怨天尤人,努力下去,也许下一个成功人士就是你。

>> No.1841194

>>1841179
No way it's all concentrated in China. The Chinese govt funded those absolutely shady corps to become the biggest miners and get trusted dollars in exchange of a highly risky cryptocurrency.

There's no financial statements nor any shit from the biggest miners. They could disappear right now and make bitcoin useless with no repercussions.

I bet miners hold no bitcoin at all and exchange shit relatively fast.

>> No.1841195

>>1841153
I don't think you know what a ponzi scheme is. If btc is a ponzi scheme then so is the U.S. dollar.

>> No.1841208

>>1841194
None of what you just said is true,do some more research.

>> No.1841223

>>1841208
If you provide financial statements from the mining providers I will change my mind

>>1841195
They push the bitcoin in order to get people to use bitcoin so they get more bitcoin through mining. This strategy is unsustainable because of difficulty. There's no transparency. This is very close to a Ponzi scheme.

>> No.1841376

>>1841223

We don't care if you change your mind.

>> No.1841381

>>1841157
Kek this

Just hold onto your BTC and watch them explode in a few years because of huge chinese interest

>> No.1841556

>>1841376
If you can't provide financial statements any kind of trust in a firm is delusional at best and dumb at worst.

>>1841381
Chinese interest created and currently drives, nurtures and reaps profit from the bitcoin craze.

Click link in OP and google the major pools.

>> No.1841565

>>1841556
what if I've already cashed out enough to recoup the original cost?
checkmate OP

>> No.1841570

>>1841565
I'm talking about bitcoin as a long position like >>1841381 which is very delusional. If you closed some juicy positions you're a big boy anon