Reddit lacks the self awareness to realize crypto is a ponzi

[Anonymous No.4712803]

Every time I login to ethtrader I feel like I'm observing a cult

All of the top posts are about how ethereum is trending on google, coinbase is trending on the app store, etc

They speak so fervently about "spreading awareness" and they cloak their selfish intent with the guise of technological revolution

You see posts about guys who bought eth at 3 bucks and just sold it all to buy a tesla or a house or whatever. And the plebbits upvote that shit to the top. As if the guy who just spent the last 6 months shilling his bags was doing some good deed for the world. And the only reason people bought them is because they thought one day they could be that guy too.

at least biz admits that we are scamming people out of their hard earned shekels, not adding any real value to the world

[Anonymous No.4712830]

but it *is* revolutionary
further its value is very much subject to network effects. so the more that awareness spreads the more, objectively, its value increases. virtuous circle

[Anonymous No.4712839]

>>4712803
Buy LINK.

[Anonymous No.4712841]

You're a ponzi

[Anonymous No.4712843]

Its all speculation / hype. But not a ponzi. You buy an asset. That asset is then yours. You arent promised any returns.

[Anonymous No.4712851]

OH SHIT STOCKS ARE PONZI MEIN GOTT

[Anonymous No.4712855]

>>4712803
hey, money itself is inherently a ponzi scheme

if that doesn't blow your mind.....well

guess you're just retarded

[Anonymous No.4712860]

>>4712839

Sergay already helped me with my bags

[Anonymous No.4712866]

>>4712803

Technically not a ponzi scheme because there is no central 'disburser' that disburses profit. It's actually much easier to think of bitcoin as an item of limited supply where the value goes up as demand increases. Why does demand increase? Same reason demand for gold increases, people have faith that people want it.

[Anonymous No.4712869]

>>4712803
At least you buy heroin and kiddie porn with eth per its intended use

[Anonymous No.4712871]

>>4712803
By that logic, Wall Street and stocks are a giant ponzi too. Which, I guess they technically are.

[Anonymous No.4712874]

>>4712803
You obviously don't know what a ponzi is

[Anonymous No.4712909]

>>4712803
bitconnect is a ponzi because it promises 1% returns.... crypto as a whole is revolutionizing the economy, you purchase an asset at the current speculative market value, or your personal future predicted value with the knowledge that it could be worth 0 tomorrow...yes things are shilled, but you are fucking retarded

[Anonymous No.4712915]

>>4712843
The implication is that the value will rise and you can pass it on to more people that will pay more. Nobody buys Bitcoin with the belief is does something.

[Anonymous No.4712924]

>>4712841
You're mom is a ponzi

[Anonymous No.4712927]

>>4712803
>at least biz admits that we are scamming people out of their hard earned shekels
yeah, I don't know about that.

[Anonymous No.4712939]

>>4712803
its too late, professional finance is in on it, suck it ya fuckin nocoiner

[Anonymous No.4712957]

>>4712871
And obviously all national Fiat currencies, Ponzi dindu nuffin.
>Ponzi was an Italian migrant and his buy in scam centred around postage stamps, he bugged out to Brazil after it all fell apart.

F for Ponzi

[Anonymous No.4712970]

>>4712843
Just like in a ponzi. You buy your subscription, and have to shill it to others to profit. You buy your bitcoin, and have to shill it to others to profit

[Anonymous No.4712990]

>>4712970
Then you are the creator of a ponzi scheme.

[Anonymous No.4712995]

>>4712866
Yup, bitcoin is a decentralized ponzi.

[Anonymous No.4713018]

>>4712803
They are still in denial

[Anonymous No.4713022]

>>4712851
>OH SHIT STOCKS ARE PONZI MEIN GOTT
Dumbass, these are shares to companies that actually "PRODUCE" products. Comparing BTC to companies like Amazon lmao.

[Anonymous No.4713023]

maybe so, but the whole point of ETH is that it's facilitating and streamlining new technologies. and we are buying ETH because we are speculating that those technologies and applications will come to fruition. so, it's not a ponzi. it's just a massive speculation-fest. but one that looks very positive. hence the value of ETH.

in conclusion, if you needed me to explain that to you, you're fkn retarded.

[Anonymous No.4713024]

>>4712990
Just like in a regular ponzi, its recursively defined. That's why it is called a pyramid scheme

[Anonymous No.4713076]

>>4713023
*deletes your wallet*

[Anonymous No.4713079]

>>4712995

Then it literally isn't a ponzi you dumb fuck.

It's definitely something, but because it's unprecedented there's no real way to describe what's happening.

[Anonymous No.4713101]

>>4713023

then let those technologies and applications come to fruition.

let the token price be derived from the value of the network, not how many subscribers a subreddit is gaining, or how many people are searching for how to buy ethereum

[Anonymous No.4713165]

>>4713079

play semantics all you want. I used the word loosely as hyperbole

the point is that these people expect to make 1500% gains they can retire on, (after selling it to someone who may ultimately see no gains - diminishing returns), and then feel all good about themselves afterwards

[Anonymous No.4713190]

>>4713101
oh yeah, i agree with that.

but just cause they're shilling, doesn't make it a ponzi.

you're complaining about Reddit being full of retards on /biz/; we all know this already. they just want quick space bux.

[Anonymous No.4713196]

>>4713022
producing a digital asset my ex wife cant take form me god your a simpleton

[Anonymous No.4713225]

Bitcoin is limited supply you moron. That's the literal opposite of a ponzi.

[Anonymous No.4713256]

You know a good way to think about it if you've ever played an MMORPG.

Imagine there's a boss that drops a sword for a limited time only so that in the end only 100 players will ever get that sword.

Now also imagine that sword is the best item in the game. What will happen to the value of that sword over time?

[Anonymous No.4713297]

>>4713079
>has no argument left
>starts to play on the precise meaning of words

[Anonymous No.4713299]

>>4712803
mETH is a cult. the blockchain technology is the decentralized currency that cannot be corrupted by any single entity. ethereum is just a promise of future technological breakthrough. an IOU. but it hasnt created anything of value. only the cryptos that began it all will still be there in the end. cults and forks will not

[Anonymous No.4713304]

>>4713165

Bitcoin is like crack though, everyone tells themselves they will sell after X% gains, but in reality people get blinded by greed and keep hodling. Every bubble that has ever burst, including the tulip people, burst because it involved an asset that FUNDAMENTALLY depreciated.

Even subprime mortgages popped because people were buying debts that ended up not being paid. Bitcoin is essentially the singularity of bubbles, it's a positive feedback loop that has no real reason of popping. This is what people who study econ 101 but not econ 302 don't get, just because it's a bubble doesn't mean it has to pop. Gold is theoretically a bubble, most people buy it because it'll go up in value and it's real price should be around 200 USD per ounce but here it stands around 1.5k.

[Anonymous No.4713326]

>>4713165
Yup it is like those retarded thread on reddit.
>"Thanks to bitcoin I bought a new house"
No retard, thanks to a normie more stupid than you, you bought a new house.

[Anonymous No.4713339]

>>4713297
>>4713165

For an example of this, see high end art. Prices literally go up year after year for no reason other than increasing demand, yet the bubble does not pop because it has a positive feedback loop. In what world is the price of bitcoin unjustifiable but 60MM USD for a jackson pollock logical?

[Anonymous No.4713351]

>>4713304

you're right, except people will get bored at some point and then realise they don't know wtf else to do with it than hold it

[Anonymous No.4713360]

>>4713339
Modern art is a ponzi too, there is nothing more than hype and speculation. And it will pop don't worry

[Anonymous No.4713375]

I agree with OP.

As a community cryptocurrency was so much better when it was nerds who genuinely cared about the technology and were calm and intelligent about the market at large.

In the past year it's gone to total shit. If you view this community as an outsider it just looks like a bunch of losers and housewives shilling Herbalife products or any other MLM scheme. Barely anyone understands or cares about basic economics or blockchain tech itself. Anytime I see crypto posts by media outlets on facebook it's always a few people making sensible criticisms of crypto and hundreds of angry bitcoiners who probably only bought in this year attacking them.

They always make the same arguments too. They always deflect any argument against crypto by bringing up the Fed and quantitative easing. They might have a point but two wrongs dont make a right- thats basic logic. Theres always people mentioning the Rothschilds in some way- the mark of idiots who think theyre more intelligent than they actually are.

At least /biz/ is semi ironic about it and you can usually find much more knowledgeable people here compared to the rest of the crypto market.

[Anonymous No.4713382]

>>4713326

fucking kek

[Anonymous No.4713392]

>>4712803
A ponzi scheme promises returns. When the number of new users required to sustain the scheme is not enough it always collapses. Crypto excluding Bitcconnect is an asset. It does not promise a return therefore it is not a ponzi scheme. What is occurring is the majority are buying cryptos with the expectation that it will rise in price and then sell it for profit to the next person who is doing the same. With little selling pressure more and more people start buying at whatever price they can get. As the price quickly rises more people are enticed to buy while those who already bought become ever more reluctant to sell. This creates a feedback loop with more buying and little selling. Eventually new buyers are not enough to sustain the momentum. At this point the market is heavy net long, lots of hodlers, who are yet to sell. Once the selling starts it creates a feedback loop in the other direction: hodler sells which cause another holder to sell and so on. Since the market is heavy net long there are few buyers to counter the immense selling and the price crashes. That's a speculative bubble.

[Anonymous No.4713439]

>>4713392
A ponzi promise return only if the new member enrolls himself new members into the scheme. Just like bitcoin. Educate ya self

[Anonymous No.4713470]

>>4713439
>Just like bitcoin
Bitcoin doesn't promise a return you dumbfuck.

[Anonymous No.4713476]

>>4712803
I agree they are some sort of delusional cult
most of them missed BTC train and don't technically understand what they are holding

[Anonymous No.4713483]

Also another hilarious contradiction that you see all the time in the past year is people boasting about decentralization and the fact that crypto is unregulated- " were finally taking back our money into our own pockets, away from the banks and the financial mafia". They will say this and then have no hesitation in calling for lawsuits, regulation and state enforced legislation when their account inevitably gets hacked and wiped or their exchange exit scams. You cant have it both ways.

[Anonymous No.4713528]

>>4713360

Keep telling yourself that. There is no actual limitation to the greater fool theory. Every bubble has popped due to a fundamental characteristic of the given item failing.

[Anonymous No.4713547]

>>4712830
>revolutionary
for a very very niche type of systems. not everything needs to be in a blockchain or in a smart contract, dunno why people think everything should be in a blockchain

[Anonymous No.4713558]

>>4713470
Yes it does. Let's take a simpler case, because bitcoin is a ponzi on a global scale. You could have someone creating a crypto, PonziCoin, where it says : Buy this PonziCoin, and I assure you you will be able to sell it at a higher price if you can convince 2 people to buy PonziCoin too. Well this is what happens with bitcoin, but there is no guru to tell you how it works, and if another dude brings 4 friends and you 0 you still profit.

tldr: Investing in bitcoin promises return only if you can find other people to invest in (definition of a ponzi)

[Anonymous No.4713571]

>>4713392
it's not exactly the right term, but it has the same sense of maliciousness and there isn't anything else that fully describes exactly what's going on.
with bubbles people generally buy in because they somehow see the value of what they're trading shooting up for legitimate reasons. with crypto, especially the smaller ones, people are financially encouraged to bring more people into the market to bring the price up.

[Anonymous No.4713575]

>>4712803

[Anonymous No.4713582]

>>4713079

I think it's just a speculative zero-sum game. Futures are a zero sum game. Somebody is shorting, somebody is going long. There is a loser in every contract. There isn't a loser in every bitcoin transaction, at least not directly. There is a loser at the end of every transaction. Somewhere a bagholder is paying for everyone's profits.

[Anonymous No.4713598]

>>4712803

> posts a graphic explaining what a Ponzi scheme is
> doesn't get that crypto is not a Ponzi scheme

You can say crypto is a bubble, it's overhyped and unproven, but you can't say it's a Ponzi scheme. You buy an asset and it appreciates (or not) in value. You can say it's overinflated, but it's not just transferring early investor money to later investors, so it's not a Ponzi.

[Anonymous No.4713627]

>>4713575

Money isn't debt free by nature. It's a debt obligation, we had this discussion over here

>>4711652

[Anonymous No.4713633]

>>4713575
>>4712803
>MUH PONZY SCHEME MUH PONZY SCHEME
youre already in one: the US Dollar

[Anonymous No.4713639]

>>4713582
naw forking already took care of that, shows you can make value out of thin air, which is the cayse of hyper inflation but
>muh deflationary currency

cant calculate the madness of markets

[Anonymous No.4713715]

>>4713575
The simplest explanation of the economy I've come across if you feel like being brain washed by the fed or whatever.
https://www.youtube.com/watch?v=jAg1YxW30Eg

[Anonymous No.4713743]

>>4712803
I know my example is different because Bitcoin is king r/bitcoin was same in 2013 way as ethtrader is now.

[Anonymous No.4713773]

>>4713558
In a ponzi scheme you are guaranteed a return if you recruit new members that is before the system collapses. With crypto there is no guarantee even if you recruit new members because you have no control of other stake holders from selling.

Crypto is in a speculative bubble. They do share similarities since they both require new buyers to continue but if nobody sold once there were no new buyers the bubble would not pop. An increase in selling would also stop the bubble from forming even with new recruits. In a ponzi the system will collapse if new recruits are not found it also can not mechanically stop from being a ponzi scheme where in a speculative bubble can stop from forming.

[Anonymous No.4713783]

>>4713743
>>4713743
Wtf did I just have a stroke? That should say,

>I know my example is different because Bitcoin is King but in 2013 r/bitcoin looked like how ethtrader does right now and those guys were absolutely right about everything.

[Anonymous No.4713801]

>>4712803

I bought eth because I expect ethereum to be the legal system of the world time will tell but I'm still convinced it will be.

[Anonymous No.4713819]

>>4712866

/thread

Now get the fuck out no coiner boomer.

[Anonymous No.4713971]

>>4713256
good example but explain how BTC is the best item in the game?

[Anonymous No.4714231]

>>4712866
Except that gold has a real use case- it's a rarity and demand will never fall.

Bitcoin's only use case is money laundering and buying fucked up experimental drugs.

Before 2013, Bitcoin proponents argued it was a currency. When it became clear it's deflationary and volatile nature coupled with its complexity made it useless as a currency, they now argue it's a "store of value".

This is a stupid argument for the reasons I said above.

[Anonymous No.4714342]

>>4714231

>Gold has a real use case
>demand will never fall

Literally the only thing gold has going for it is history and consensus, bitcoin will have that in time. As for the limited industrial applications, those can all be done better by cheaper metals. Just accept that golds value is literally only because of demand and literal supply, the same exact fundamentals as bitcoin. Does gold have the psychological advantage of being a physical good? Yes. But change is the only constant, people will evolve, in time BTC will be seen as the 'safest' invesment possible with extremely low returns (think 100k to 101k in a year).

[Anonymous No.4714456]

People putting everything on the blockchain is a fucking scam and will one day fall

However a digital currency is not a concept that will go away. It's a great concept and one day one may make it far enough to be considered a universal currency across the world

[Anonymous No.4714468]

>>4714456

USD is largely digital as it is.

[Anonymous No.4714504]

>>4714468

Still a currency controlled by a single government which can print more whenever they want

[Anonymous No.4714526]

>>4714342
As I said, Gold has real use cases- electronics production, jewelry, medicine etc.

Bitcoin has none of these, it's only significant use is in illegal transactions and crime. The only thing driving Bitcoin's value up is a ton of people expecting to get rich quick. There is nothing backing it- no production, no earnings report, no applications.

In order for it to be a proper store of value it's necessary to have some form of inherent value, not just a market guided by greater fool theory.

[Anonymous No.4714560]

>>4714526
>Gold has real use cases- electronics production, jewelry, medicine etc.

Its industrial uses hardly justify how high of a price gold goes for. Also Bitcoin's (or any cryptocurrency in general's) 'value' could be considered its technology. It's the reason that I don't think BTC will make it in the long-run, but one crypto will

[Anonymous No.4714623]

>>4714560
The fact that it has these applications decreases the possibility of it being in a speculative bubble dramatically.

If Bitcoin had some use cases it would also reduce the likelihood that it was massively overvalued. Since it doesn't, it looks like an enormous bubble at the moment.

I agree with your second point though, the blockchain technology itself is ground-breaking and there will definitely be cryptocurrencies which will grow for years or even decades.

I just don't think Bitcoin will last, the only thing driving it is first mover's advantage and lots and lots of dumb money.

[Anonymous No.4714638]

>>4712803
>Reddit lacks the self awareness to realize crypto is a ponzi

Dude it doesn't matter. What matters is if you have balls to put a trade on.

[Anonymous No.4714664]

>>4714623
>I just don't think Bitcoin will last, the only thing driving it is first mover's advantage and lots and lots of dumb money.

That's something we can definitely agree on. It'll be exciting to try and find genuinely good currencies that could have relevant use in the real world

[Anonymous No.4714714]

The real reason cryptos are valuable aren't because they're going to substitute currency or any shit like that. They won't. The reason they are valuable is because they enable nerds like me to feel like Jordan Belfort while sitting with a thumb up my ass, since they're much easier to invest to than stocks.

[Anonymous No.4714720]

>>4712924
*Your

[Anonymous No.4714928]

>>4712924

"You are mom" is a ponzi

>your mom's pussy is a pump and dump

[Anonymous No.4715019]

>>4714504

I don't see the issue desu.

[Anonymous No.4715042]

>>4712855
this anon gets it. money masters, amirite?

[Anonymous No.4715046]

>>4714928
your triggered nazi grammer fag

[Anonymous No.4715069]

>>4713304

Gold and all rare earth have actual industrial uses. Bitcoin has a circle jerk of libertarians.

[Anonymous No.4715143]

>>4715046
>your triggered nazi grammer fag

too stupid for internet

[Anonymous No.4715175]

>>4714231
>demand will never fall

are you fucking autistic?

it's literally in demand solely because of its rarity

[Anonymous No.4715252]

>>4712803
Buy ripple!

[Anonymous No.4715280]

>>4714623
>>4714664
I thoroughly enjoyed this conversational exchange and would like to watch a hentai of the two of you one day please.

[Anonymous No.4715315]

>>4712803
Me on the left.

Bottom left.

[Anonymous No.4715417]

>>4712851
Well stocks are actually shares of a company, and the companies actually have employees that do actual work to build products and sell them to customers.

WTF are blockchain companies? They have 2 people total (COUGH LOOKING AT YOU CHAINLINK), usually have no product (except vaporware, COUGH LIGHTNING NETWORK), and are valued at hundreds of millions of dollars or more.

BTC and other coins DOES often feel like a ponzi scheme, and this is from someone who came in in 2013 (ME).

[Anonymous No.4715420]

>>4713971
Agreed that BTC might not be the **best** item there is but it’s certainly up there. But then again, what IS the best item? We won’t know until one of them reaches the point of being as regularly as fiat currency, which I don’t think is yet the case with BTC.

[Anonymous No.4715453]

>>4715420
*COUGH* "Our mission is to help Bitcoin Cash serve one billion users within five years." - https://thebitcoincash.fund/

[Anonymous No.4715484]

>>4715417
They’re not backed by literal assets– they are backed however by an unseen ability to purchase shit anonymously (and more, only been taking a look off and on at crypto for a month now).

[Anonymous No.4715579]

>>4712803
>You see posts about guys who bought eth at 3 bucks

I wish id listened to those fukers at the start of the year. I trade fx for a living. A mate of mine, a big fx trader, said hes just bought £10000's worth of ripple on the recommendation of https://twitter.com/_db______

In my discord we are all pulling wedge from fx. We are known as individual on twatter etc. We do big months, this past one has made my year on GBP crosses.

Belle reckons XRP is a buy and hold. Looks promising, but are they really going to have their transaction rate utilised by the big boys or is STRAT a better buy. I think STRAT is, i have no XRP yet. Still open to buying it, but there is a mix bag on the news front with them.

[Anonymous No.4715630]

>>4713256
>>4713971
A better example would be a RS party hat.
Something that was given out for free years ago ended up being worth more than any new player could come by honestly.
It has no reason to drop in price unless people want to get rid of theirs and people won't pay a huge price.

[Anonymous No.4715647]

Get into ripple, it's amazing, The pool is huge, jump in.

[Anonymous No.4715718]

>>4712970
That would mean if satoshi cashed out all his bitcoin. Even then the price could just recover and bitcoin is not dead. People who buy this know it can drop 50% in a week. Which, if he would he'd probably had done when the price was 1000$ in the beginning. And i don't think he wants to scan his id card to send to an exchange.

People know they will lose money gambling, yet they gamble.

It's not a ponzi

[Anonymous No.4715725]

>>4715579
God bless you all.

[Anonymous No.4715762]

>>4715647

Nobody wants to invest in your meme coin. Jk I have some

[Anonymous No.4715776]

>>4715718
>People know they will lose money gambling, yet they gamble.

Right, but is that a personal justification for watching the world go by and make money on this? There is still room to buy. I think BTC is heading to 500k. The only thing that matters is the integrity of the exchanges. If they fail then its fuckery.

[Anonymous No.4715863]

>>4715776
>I think BTC is heading to 500k.
Me too, friend, me too

[Anonymous No.4715880]

>>4713558
Not necessarily, there is one difference between usual ponzis and bitcoin, and that is that the price of bitcoin increases not only with new adopters but also when existing adopters have transactions on the network (because there are costs involved).

So whereas in a regular ponzi you need new money AND ONLY NEW MONEY to keep the price, in bitcoin you need either new money OR more transactions. Because the number of coins is limited, if you have 10 coins and you want to do 20 transactions then the coin is cheap, but if you have 10 coins and there are 100 transactions to be done, then there will be scarcity and coins will appreciate in value.

This is the only thing making Bitcoin not a scam, the hope that it will actually be accepted as a means of exchange and people will start accepting it for other products and services. That's why the Bitcoin holders need to promote the shit out of bitcoin if they want the price to continue rising

[Anonymous No.4715941]

>>4715880
>That's why the Bitcoin holders need to promote the shit out of bitcoin if they want the price to continue rising

But Bitcoin's a piece of shit. We should promote good alternatives to it to hopefully become accepted and mainstream

[Anonymous No.4716189]

>>4715941
And that’s why there’s a race. Whichever coin earns the most trust via its associated technologies will claim a huge chunk of the future trillion-dollar market. BTC clearly hasn’t achieved that, else its value would be WAY more than what it is currently.

[Anonymous No.4716192]

>>4715941
I know, I never said Bitcoin was good. In fact I think the Bitcore people were caught with their pants down by Bitcoin-cash, I think they thought they were safe just being "Bitcoin" and not really delivering a good project. A lot of people bought into BCH simply because of the block size.

As things are now I can't discard a 1:1 situation where Bitcoin and Bitcoin-cash are worth the same price, simply because Bitcoin-cash was more aggressive on promotion and marketing

[Anonymous No.4716209]

>>4715175
And? What's your point lmao. Angry little manlet.

[Anonymous No.4716239]

>>4713101
>then let those technologies and applications come to fruition.
You're one stupid faggot.

[Anonymous No.4716263]

>>4716192
>As things are now I can't discard a 1:1 situation where Bitcoin and Bitcoin-cash are worth the same price, simply because Bitcoin-cash was more aggressive on promotion and marketing

I think that will kill the Bitcoin brand by confusing people on why there is Bitcoin and another thing called Bitcoin. That would actually be the best situation to allow another alt to rise up

[Anonymous No.4716286]

>>4716263
yes, naming is super important. I wonder how much new ICOs spend on finding out the right name for their coin.

[Anonymous No.4716349]

>>4713392
the implied promised return is easy, effortless financial gain

[Anonymous No.4716413]

>>4716286

It's the one thing I'm apprehensive about with Chia. Everything I hear about it ticks all the right boxes, but the name's dumb as fuck (it does have the benefit of being very simple though)

[Anonymous No.4716958]

>>4712803
think about it for a second

what is bitcoins and normal moneys difference? on a computer, FUCKING NOTHING, other than with bitcoin you can lie its value and only a retard would give up their countrys currecy for other currecy THAT YOU CANT BUY SHIT WITH

bitcoins are indeed a sceme and sooner countries end it the better

[Anonymous No.4716981]

>>4712803
Ethtrader IS a cult.

But crypto isn't a ponzi. It might be a scam, maybe, but that's not what a ponzi is.

[Anonymous No.4717002]

>>4714231
its use-case as a currency is still ok, just one with comparable fees (or higher depending on the situation) to those of paypal and credit cards
that doesnt make it a non-currency that makes it fierce competitor

[Anonymous No.4717023]

>>4712803
>not adding any real value to the world
we make bamkers free from hes worck
so he will do something other and add some real value to the world
its is good and God love it

[Anonymous No.4717035]

>>4716958
>Difference
Ease of access, most secure form of currency in the world (but not the best store of value), easiest to transport.
>What can you buy with it
https://www.bitcoinluxurymarketplace.com/

[Anonymous No.4717051]

>>4713351
bitcoin is getting more and more used though, its network effect is expanding. For example I found out the other day that I can buy plane tickets and hotel rooms using bitcoin

[Anonymous No.4717101]

>>4717051
literally anyone can make an e-commerce webshop using wordpress and sell whatever they want. In bitcoin among others. "literally can't buy shit" meme is a lie. people that dont see it never tried actually buying producs and services with it, obviously they believe they dont exist or are in denial

[Anonymous No.4717128]

>>4716192
>In fact I think the Bitcore people were caught with their pants down by Bitcoin-cash
Not really. there are so many amazing technologies they are developing. The fact is that they acknoledge Bitcoin is perfect and that is why they are trying to improve it, but that takes time since it's uncharted territory. Not that a bcash brainlet would understand how serious developing works..

[Anonymous No.4717129]

>>4713022
Right in a rational world. Wrong in reality. Net present value x like 100 is what companies price at. Its all bullshit game of chicken.

[Anonymous No.4717146]

>>4717128
*acknowledge
*is not perfect

[Anonymous No.4717237]

>>4713101
what exactly are you suggesting? that we value the technology based on the current value it brings to society today? that's like saying that anyone who invested in Microsoft or Google or any other startup was overvaluing the investment because they were valuing it at higher than the sum of it's outputs at that time (aka before they were even cash flow positive or before they were even a business).

basically you are a fucking autistic luddite

[Anonymous No.4717251]

ADMIT IT

BITCOIN IS ACTUALLY JUST PAJEETCOIN, WITH PAJEETS AND THEIR OVER TEN COMPUTER MINING FOR THEMSELVES

BITCOIN=INDIA CURRENCY UNRESTRICTED, YOU ARE INVESTING IN PAJEETS AND NOT INTO YOUR OWN COUNTRY!

[Anonymous No.4717259]

>>4717128
>Bitcoin is perfect

[Anonymous No.4717280]

>>4712803
Ethereum is not simply a ponzi
It's a ponzi platform where anyone can create their own ponzi

[Anonymous No.4717327]

>>4717259
>>4717146

[Anonymous No.4717352]

>>4717327

Gotcha. I still don't think it will ever improve like it needs to with the sheer amount of shit that comes up the moment any suggested change comes along (such as BCH)

[Anonymous No.4718314]

>>4713256
haha mmos are the definition of dead unless growing user base

[Anonymous No.4718351]

>>4713528
bitcoin is fundamentally a bad coin

[Anonymous No.4718383]

Do you think Diamonds are a ponzi scheme too? The only real use they have is jewelry and they're only used in jewelry because of their value.

[Anonymous No.4718479]

>>4713547

>The telephone is a niche because majority of messages are sent by letter! Who would even need a telephone in his home?
>The radio is a niche, all news you get from the newspaper. No need for the normal user to buy an expensive radio
>TVs are a niche. News you get from the radio and movies you watch in the cinema. Who needs a personal TV at home?
>Computers are an absolut niche. Aside from companies using it for complicated calculations, nobody needs them.
>The Internet is a niche. Who even needs to connect their computer with another to exchange information except for companies?
>Mobile Phones are a niche. You already got normal phones and phone booths. Why would you need to carry around a phone yourself?
>Smartphones are a niche. You already got a phone and you got Internet at home. If you really need Internet during travel you can always bring your laptop. Who needs a Smarthphone

Fast Forward to today
>crypto is a niche. Who even needs instant and automatic contracts when you can just use a regular paper contracts. Who will even use this besides companies

[Anonymous No.4718584]

Close but not quite a PONZI more of an admission fee to join the online casino. You put your FIAT in, get bored and eventually get into the trading hobby. This is the same as the mid 2000's texas hold em boom. As long as you are distracted playing and buying more chips to lose to the house or having that arbitrary number increase on the exchange you aren't going to ask too many questions.

[Anonymous No.4718595]

>>4718479
Lol. This. OP's post reminds me /biz/ is mostly filled with underage who not only don't have historical tech experience but also aren't even in/Haven been in the workforce long enough to understand how the world runs.

[Anonymous No.4718873]

>>4712803
It's speculation, not a ponzi.

>And the only reason people bought them is because they thought one day they could be that guy too.

You mean they bought something hoping it would worth more one day? Every single investment in stocks or precious metal is a ponzi then.


>>4714231
Gold has no real use case outside of a very little utility in technology which accounts for less than 8% of its value. As a store of value Bitcoin defeats gold in every single aspect.

[Anonymous No.4718907]

>>4712803
People lack of self awareness to realize federal reserve is the greatest ponzi scheme of all time

[Anonymous No.4718917]

>>4712803
this is the cold hard truth but we dont wanna speak it cause we wanna leech off normies lel

[Anonymous No.4719080]

>>4718479
embarassing to compare this innovations to shitcoins.

I an invested and want it to go higher. but if u cant see that all these meme coins are mostly a scam kys

[Anonymous No.4719150]

>>4719080
dude, except for a few deluded, the rest knows this. They just wanna shill crypto to suck in more fools and sell them their bags but this is not really the place to do so. They should shill where the normies hang

[Anonymous No.4719205]

>>4717280
LMAO

I like my eth but holy cow this is gr8

[SAGE No.4719228]

>>4712803
do not engage with or feed the shill
SAGE

[Anonymous No.4719319]

>>4712970
If I buy a car expecting its price to magically rise after keeping it in my garage for 5 years then I'm retarded, I won't call the dealership a scam. I could have just used the car for its intended purpose...

[Anonymous No.4719331]

>>4713022
Ok explain Facebook shares then. Their only product is digital (information about users) just like Bitcoin

[Anonymous No.4719469]

>>4719080

>he thinks Dogecoin and Fedoracoin represent Cryptocurrencies and Blockchain

[Anonymous No.4719683]

>>4719331
People are the product and the platform allows companies to target them more efficiently and spread their products/services on the global markets.

[Anonymous No.4719775]

>>4714231
>Bitcoin's only use case is money laundering and buying fucked up experimental drugs.
No matter how much you keep saying that, that's still a legitimate purpose with a relatively high amount of demand in world of criminalized drugs. There's a lot of other trivial things people accept BTC for in order to mask their identities as well. There's nothing wrong with that no matter how much you deride them for it, and it's explicitly not a ponzi scheme. The government created the demand for Bitcoin through their monetary and criminal policies.

It's being used both as currency and store of value by different people for their own reasons.

[Anonymous No.4719831]

>>4712915
I'm buying Ethereum because I want a hedge against a potential collapse of my country and the euro. I live in Francistan and the screws are tightening on what little freedoms we have left. Besides that, it's nice to travel between countries without being assraped by fees or having to trust new start-ups even shadier than banks. I won't pretend I'm not happy it appreciated against the euro, but most of my investment is a one-way street with no interest in cashing out.

[Anonymous No.4719864]

This. It's literally easier to buy into crypto than to buy into regular stocks. It's just two clicks and creditcard to buy btc, took me 2 weeks to set up a stock trading account. All the money coming in to this is just normies buying in, by definition this can't go on forever.

[Anonymous No.4719922]

>>4719683
>people are the product
What a load, that's not producing shit.

[Anonymous No.4720022]

>not adding any real value to the world
we make bankers free from hes worck
so he will do something other and add some real value to the world
its is good and God love it

[Anonymous No.4720311]

>>4714526

Except the price of gold isn't from it being used. Your logic is broken, this is basically your reasoning:

The price of gold based on its actual uses should be $200 an ounce, however because people believe gold is valuable it's worth $1500, in your opinion this is not a bubble because it has some use. So by your logic if q-tips were worth thousands of dollars it would also not be a bubble because they have some fundamental use.

The price of gold is drive almost entirely by peoples faith in its value.

[Anonymous No.4720549]

>>4713076
*uses recovery key*

[Anonymous No.4721124]

>>4719922
its a middleman
arguably they dont produce anything, just move shit around

[Anonymous No.4721139]

>>4714231
>Except that gold has a real use case
>Proceeds to indicate a real use case of BTC

[Anonymous No.4721186]

ponzi still made people back then rich. At least those who invested first.
Thats how it works.

[Anonymous No.4721205]

>It's another OP doesn't know what ponzi is episode

[Anonymous No.4721224]

>>4712841
This. Life is a ponzi only a below average intelligent normie can't see it. The first at everything always wins out at the expense of everyone else assuming they don't quit or die. Just look at generational/inherited wealth.

[Anonymous No.4721259]

Speculation is not a ponzi. Here many people say the same thing about the stock market.

[Anonymous No.4721275]

>>4721224
Tell that to the first humans, whose elders were 30 years old at most.

[Anonymous No.4721327]

Crypto is making the whole financial sector obsolete. Finance has three main functions store wealth, facilitate transactions and provide liquidity.

Crypto is better as a store of wealth because it is safer but more than that because it's way cheaper, to accomplish this goal banks spend a lot of resources, accountants, clerks, directors, etc. Meanwhile crypto does the same just using a bit of electricity.

Second are transactions, I don't need to explain how crypto transactions are better, faster and cheaper than bank wires and checking accounts.

And lastly is the function that I find by far the most important which is to provide liquidity. An economy creates wealth by producing goods and services but we don't accumulate goods and services we produce them to sell them, when new goods are created the producer needs demand for their products, banks through loans and governments printing money provide that liquidity to grow the demand. But what happens with crypto is that the the same producer of the good or service can create its own liquidity embedded directly in its service code. With crypto the developers are creating their own liquidity and taking away from the financial sector its more important function.

In my opinion finance has no future in the long term but in the short term it will start migrating to the blockchain, their master move in my opinion will be taking control of bitcoin, through Blockstream, which is nothing more than a financial service, but in the long (and I mean LONG) I don't think bitcoin will still be valuable either.

[Anonymous No.4721914]

>>4712843
>>4712866
>>4712874
>>4713022
>>4713023
>>4713079
>>4713225
>>4713392
>>4713598
>>4715718

Shills take a lesson from MLM propoganda
https://www.youtube.com/watch?v=p7vpTCFUqqU
>"Always make sure when someone asks you if it’s a pyramid scheme or pyramid scam that you don’t make it a bigger issue than it really is.


>Another one that’s kind of funny that I got from my best buddy Jonny Wimbrey is when someone asks you, “Are you doing a pyramid scheme?” you ask them, “Are you a bank robber?”.

>And when they look at you crazy just say, “Well you asked me if I’m doing something illegal so I’m asking you if you’re doing something illegal!” LOL

>So if they aren’t quite understanding what it is, I always go back to the Mary Kay example and ask if they are familiar with them and remind them they do over $3 Billion a year in revenue."

[Sage No.4721942]

>>4712803
read your post 4/10
look at number of answers 9/10 gz

[Anonymous No.4722000]

Money sucks, crypto is for cool guys like me.

[Anonymous No.4722865]

>>4712995
a ponzi cannot be decentralized, you absolute retard. the absolute point of a ponzi is that it's a centralized hierarchical system