crypto is a ponzi scheme

[Anonymous No.53935764]

Why does crypto feel like a giant pump and dump ponzi scheme?

its been like 15 years and it was suppose to be a currency but literally nobody uses it as such. People only buy it to sell it for a higher price to someone else and everyone looks at it as a get rich quick scheme. what the fuck happened?

[Anonymous No.53935788]

>>53935764
Because it is, the only use cases are:
1. Gambling
2. Scamming

[Anonymous No.53935873]

>>53935764
name a single asset that is bought, held, and sold without the intention to make a loss instead of profit

[Anonymous No.53935886]

>>53935873
*with the intention
haha

[Anonymous No.53935889]

>>53935764
Technically it’s a greater fool scheme

[Anonymous No.53936666]

>>53935764
You're only just figuring this out?
Most people here don't give two fucks about the technology, no matter if they claim they've read the White Paper of whatever shitcoin project they're "investing" in (they haven't) and have no real interest in the currency replacing Fiat because ultimately Fiat is all that matters. When people make it on /biz/, they're cashing out their assets instead of building up their cryptocurrencies thinking it'll be a new currency.

[Anonymous No.53937173]

>>53935764
>its been like 15 years and it was suppose to be a currency but literally nobody uses it as such

They do, you just don't like the usecase for it. Dunno why people say this when there's literally no easier alternative to crypto if you wanted to send money from someone in another country within a few minutes. Or buy digital goods like NFTs, which are assets natively priced in crypto.

>No no but that doesn't count because my bagels at the deli aren't priced in BTC and still use USD on the signs!

ok boomer. I'll use my crypto debit card if I want to convert it to USD for in-store usage,

[Anonymous No.53937187]

>>53935764
Correction
*EVERY asset is a ponzi scheme. Welcome, newfag. It will take time for you to accept this fact.

[Anonymous No.53937223]

>new coworker
>talks about bitcoin
>said he had half a million or whatever but lost most of it since the crash
>tells me to invest ALL my savings into bitcoin despite the current price
are they all cucked. it was an interesting experience meeting someone like that in real. even though he lost almost everything he was still conviced its the way to go.

[Anonymous No.53937368]

>>53937223
Its kinda inevitable cripto takes over the us dollar this recession didn't need to happen if the goverment didn't print as much money the last 20 years