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28887628 No.28887628 [Reply] [Original]

Crypto is a ponzi

>> No.28887901

>>28887628
Wow nice take, congratulations on contributing nothing to this board...
Here's my advice buy BTC

>> No.28887971

>>28887901
pls sage if you post in a troll thread

>> No.28888033
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28888033

>>28887628
Heh
Mfw you're gonna be a poorfag forever

>> No.28888157

>>28887628
your dollar literally has a pyramid on it you utter moron

>> No.28888226

>>28887901
>>28887971
>>28888033
>>28888157
Not an argument

>> No.28888240

>>28888033
^^^^^^^^^^^^
Check the digletts. I'm right

>> No.28888333

whole economy is a ponzi scheme SAGE

>> No.28888344

>>28887628
only a ponzi if you dont know what you're doing

>> No.28888696

>>28888240
>>28888333
>>28888344
Also not an argument

>> No.28888915

>>28887628
Yes, buy physical gold and silver

>> No.28889091

>>28888333

this

>> No.28890832

>>28888344 Lmao pretty much

>> No.28891110

>>28887628
>Use Bitcoin as collateral
>Take loan
>buy some stocks like Amazon
>use profits to pay back loan
>objectively adding value to the system

??? How is this a Ponzi? Bitcoin is like a monetary black hole. DeFi and Bitcoin will extract all value from TradFi

>> No.28891931

>>28887628
>>28888226
>>28888696
Not an argument

>> No.28892042

>>28888333
This
>muh greater fool
That's literally how the whole capitalist system works. You invest into thing people want, and sell it for a profit. Doesn't matter if it's stocks, houses, gold or crypto

>> No.28892066

Stfu

>> No.28892092

crypto is not a ponzi

>> No.28892148
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28892148

It's essentially a pyramid until all supply is eventually being held right?
The dollar bill could've been abandoned at any time and it would've collapsed, it's the same with BTC.
We're seeing companies accept it as a form of payment and huge commercial investors and taking a liking to it.
What I don't really understand is what is the end goal of btc?
Will it eventually stable out? Why would people want to use it as a surefire currency when the price is so volatile.

>> No.28892920
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28892920

>>28892148
You don't. Bitcoin is your reserve currency. Your savings account. The money you use when the financial system collapses and it's the currency you have to fall back to. It's power is in it's security and unmutability. People say Bitcoin is dinosaur tech but that's exactly what makes it so strong. It's a protocol that will stay mostly the same for the next 100 years and only when the last Bitcoin are mined people will maybe talk about changing it, but at that point it will be like the church talking about changing the Bible or the US changing its constitution.

Bitcoin is your hard money, never spend it unless you absolutely need to. Use a "lighter" currency for payment (like Fiat. Eventually Fiat will die because eventually every idiot on the planet will realize that a depreciating asset is best used by taking as much debt as possible, put it into assets and wait for the depreciating asset to depreciate to pay back. As long as interest is near 0 you can exploit this)

After Fiat dies, who knows what the second currency besides Bitcoin will be. Eth is a strong contender. Even fucking Doge because even though it's depreciating it's decreasingly depreciating, so Doge is a serious contender for 2nd layer money network

>> No.28893259

>>28892920
The last bitcoin is supposed to be mined in 2140, right? So this would be contingent on it not going to $0 in the next 100 years I'm assuming?

>> No.28893326

>>28887628
No, but, no, but usecase, m-m-m-muh whitepapers......

>> No.28893343

>>28887628
Everything is a ponzi retard.

>Be born first
Wow you grow up first and learn things first and therefore can beat up kids

>Invent something first
Wow you now own it and can capitalize on it or abuse your invention

>Buy something for a low price cause noone wants it
Wow you are now on top of this pyramid aswell.

EVERYTHING IS A PONZI
BE FIRST, BE A WINNER,
the crypto tech is here to stay anyway and usually actual real ponzi schemes are scams that rugpull at the end but this cant.

>> No.28893457

>>28887901
>>28887971
>>28888157
>>28888226
>>28888333
>>28888696
>>28891931
>>28892092
>>28892148
>>28893259
Not an argument

>> No.28893573

>>28887628
Depends entirely on whether or not the system changes its metric for value.
Currently crypto is little more than wishful thinking propped up by more wishful thinking and an infinite supply of FIAT currency.
Now, if, again, the system was to change and data/usage to be made into a digital gold-standard that has tangible value attached to it... But that will never happen.
If anyone really believes that globohomo would just sit back and have their cattle stage a revolution to abolish all their toys and empires ~ well, sad times.

>> No.28893861

>>28892148
People do work, and they need a way to store the value of that work, and bitcoin happens to be the best way to store it, compared to:
>fiat
Government actively and purposefully devalues it, loses value every second you hold it
>stocks
basically just crypto but not as liquid, company could go under too
>metals
Hard to move around
>real estate
Could take months or years to liquefy, takes a lot of time to manage

So that leaves crypto
>doesn't inflate, in most cases supply only lessens over time
>easy to send and trade with others
>can easily be integrated into modern commerce systems, soon you won't ever need to "cash out"

It's just the most logical way to store your wealth, or the output of your work, the part you don't want to risk anyway. And everyone will come to the same conclusion which will stabilize the price in time, at around when bitcoin reaches $1,000 000 USD

>> No.28893869

>>28893457
Are you retarded or do you just tag everybody because your a troll. Argument against what? Read my comment and see what I said you brainlet.

>> No.28893947

>>28887628
Yes, every civilization is a ponzi.

>> No.28894261

>>28893259
Correct. For the next ~120 years Bitcoin will work just like now. I dunno what happens then, I'm not convinced that Satoshi's idea of paying miners only with fees will work but at that point Bitcoin might be so important to the world economy, people would maybe willing to pay to keep the network running. It's what miners already do in bear markers so why wouldn't world governments pay for the network to run if the entire economy depends on it.
But who knows what Bitcoin's worth will be in 100 years. It might go 1 Million in this very year. Imagine 100. If 1 Bitcoin is worth 1 Trillion in today's money, Miners would still get 26 Million per day (today they get 45 Million per day, so 1 Trillion is probably pretty lowballing it)

>> No.28894274

>>28893869
he's trolling to make fun of retard op who posted "not an argument" in the first place

>> No.28894435

the reason you're poor is because you enter the internet to 'have arguments' like a good wagie midwit
meanwhile even retards make money on the internet

>> No.28894636

>>28892920
Eventually Fiat will die because eventually every idiot on the planet will realize that a depreciating asset is best used by taking as much debt as possible, put it into assets and wait for the depreciating asset to depreciate to pay back. As long as interest is near 0 you can exploit this)
Eventually rates will be set by the free market and BTC will die. Rates at .25% would send it straight back to $10k.

>> No.28894956

>>28887628
The whole economy is a ponzi that only works because the population keeps getting bigger and we can push it all onto the next generation.

>> No.28895111

All of economics is simply confidence in the value of something

>> No.28895239

>>28894636
Lol
Before BTC dies every nation that has gigantic debt will die. The national debt is 27 TRILLION. An interest rate at 0.25% would be an annual payment of 67 billion. That's trice America's GDP. Even if America spent three years in a row putting all their economic power into paying debts they wouldn't be able to pay a single cent. No nation in the world can afford interest coming back.

>> No.28895677

>>28895239
>67 billion. That's trice America's GDP
US GDP is 20 trillion, what are you on about

I don't disagree that America has major debt problems. It's not nearly as bad as you're saying, but it's very bad. The only thing people on /biz/ don't seem to understand is that this nightmare economy is temporary. It can't last another 10-20 years. Eventually, one way or another, the market will determine interest rates again, or gold will back the currency. In either of those scenarios BTC will die.

>> No.28895834

>>28895677
Ah sorry
When I googled America GDP it showed me the european billion