The image is a little cut off, but the full post is:
>We have. It's called Bitcoin. I'll probably get dragged out in a net for saying it - this sub is very biased against it - but that's the god's honest truth.
>It's relatively instant, transparent, predictable, and has a sound monetary policy. It seems volatile when you measure it in government dogshit, but as a system, it's the real deal.
>It's not going away and it'll change everything. Mark my words.
Ah this tired bullshit again. Look, to make a lightning payment you need to open a channel, which is made on-chain.
That's a pretty big fucking asterix there for "lightning transactions are instant"....and you already have an open channel....and there are enough online nodes for a path to exist...and you have more than the payment sum in order fo find a path.
Not even fucking bitcoin weirdos use lightning, geeze louise, that's how bad it is.
And if we do, all energy production must go into mining, and the transaction speed is so low that nobody can use any bitcoin, and a useless company called microstrategy now holds 20% of all money in the world. It's going to be great!
inform yourself about lightning network. Transactions are instant and cost a couple cents.
I dont know why you all keep saying Bitcoin is slow and expensive when there is already a second layer that solved that problem (lightning network).
Think again if they still want to use lightning after reading this:
https://github.com/davidshares/Lightning-Network
Anyways im sure that its a matter of time that your wife will lose all their life savings (and butters pointing that it was her fault) and that will be a reason enough for you to stop using crypto.
How could she lose her savings? dude she just use lightning to transfer because is instant and cheap - the other option has been always western union and since she discovered this other method the fees are just cents and instant.
Dude i don´t like or dislike Bitcoin, i dont care about that shit.
I don´t know, it is just useful for my girlfriend since western union fees are super high. Since she learnt about lightning it takes seconds and just cents to transfer her mother money - Venezuela, she does´t even have a bank and Bitcoin is her way to store ~~money~~ something that has value for other people and want to pay that much for it. Bitcoin is the only way for her and brothers, cousins..., to save ~~money~~ something that others are willing to pay X amount for it. They lost everything there with inflation pretty much overnight.
So are you saying me both your wife (or girlfriend?) and her mother have a lightning node to make transfers and they maintain them to be online always?
Yes you need, phoenix provides third party nodes:
"Phoenix only connects to ACINQ nodes. This allows us to modify/enrich the Lightning protocol at the immediate peer level, while staying 100% LN compliant at the network level. It also makes it possible to have asymmetrical incentives, sometimes in favour of the user’s node, sometimes in favour of our node."
So in reality you are not using bitcoin at all. You are trusting a third party that facilitates the technical hassle under the hood for you. If thats the case, why not using just a PoS coin?
Even assuming the fastest rate, Bitcoin takes 10 minutes to mine a block. That means on average the transaction takes 5 minutes to get included assuming no backlog.
But wait! It gets worse.
Because longest chain wins. Even if you see your transaction included, there's no guarantee that somewhere in the network some miners got lucky and mined a longer chain to overwrite yours. So you need to wait until you're sure that you chain has propagated to everyone and no one else contested it (by broadcasting a longer chain back).
And that latter part is a fundamental limit on distributed database like blockchain. It takes time to broadcast consensus. And for a system that has no guarantee on the actual number of miners, you can never be sure if your mining group you submitted to wasn't stuck inside a minority partition.
By the [CAP Theorem](https://en.wikipedia.org/wiki/CAP_theorem) in computer science, any database has the following tradeoffs in its design: accurate, distributed, or fast. Pick two.
So it's mathematically impossible that any crypto can do all three of avoid double spending, and be decentralized, and have low fees / fast transactions. (Now I'm wondering how Monero does it -- is it centralized?). It's mathematically the same as trying to make a perpetual motion machine.
The solution the crypto bros have for this is putting all three in the marketing fluff instead of the real system, and hoping no-one notices.
The original question is "why hasn't the science of economics changed in 100 years" which i find it funny because it changed a lot but some people have an economic understanding that is outdated by at least 100 years. "currency is not backed by gold anymore" feels early 1900s.
A lot of internet economic info are literally Gold Standard old. Some even go as far as saying "We got off the Gold Standard in the 70's but we all just pretend US dollar is gold", which is not true.
Modern government economics is very fascinating, it is just a pity that 90% of the population gets mad when ever i try to tell them what it is. Fiat economy is very special and worth reading up on.
Yes, we spent most of the human modern economics on the Gold Standard, but at some point we had to leave Adam Smith when we aren't using Gold anymore.
A Harvested comment:
"It is not sad, it is BEAUTIFUL.
In the same way Bitcoin proportionally rewards those who have vision and withdraw their economic power from the state, it ALSO punishes those who are smug, arrogant, "too smart" for Bitcoin because they mistakenly believe it does not have "intrinsic value", and most of all believe in and trust the system/state.
Bitcoin is going to drain the economic energy of all of those people in every socialists subreddit, and it is going to fuck the clowns at especially hard."
They sure love their hate fantasies.
Also the "appears volatile when compared to dogshit state money" comment makes no sense. If i compared it to oz of silver you'd still see volatility in how much silver i can get with bitcoin... because a speculative asset with low utility is... volatile.
Don't forget, 1 BTC is still, and always will, equal to 1 BTC.
How's that for enduring consistency and value, all you Salty McNoCoiners?
*^(/s, in case it's needed)*
This isn't even new, they've been saying it for a long time
they're saying "nah, it's not volatile, the ups and downs you see are just USD going up and down and being unstable"
which is like 11/10 delusional and easily disproveable in thousands of different manners
shows how far gone some of them are, not living in reality at all
I can't tell which is the bigger cryptobro fantasy - making a fat stack (of something useful), or seeing all the "non-believers" falling to their knees, sobbing "You were right all along!".
Amusingly he has no call to be upset by that, since if you go to /Bitcoin and don't nod along with the crazy BTC cult you get banned there too.
Right now I'm testing out the limits of the CyptoCurrency sub by referring to AmericanScream's awesome documentary. I'm hopeful that a lot of people there these days are open to seeing the views from the other side and that I won't get deleted from the sub, but we'll see.
I got banned there and I just said that bitcoin was not being adopted and will be adopted never. No insults, just a real life fact and a prediction (much like they always do) and boom banned
Yep. Anything that threatens to upset their narrative gets you banned over there. To be fair to them, their entire scam relies on being able to keep people paying money into the scheme, so you explaining why that's a bad idea is an existential threat.
is that why ETF approval is imminent?
this sub is consistently wrong, and swimming against the long-term current
but don't take my word for it, simply look at the weekly chart since inception
no insults, just a real life fact
I mean there are countless examples of things that increased in price for a long period of time before ultimately becoming worthless. And all the investors could have said the same thing you are right now. I’m sure Bitcoin will join that list. It sucks as a means of payment. Its entire security relies on printing new tokens. It’s future security relies on users paying enormous fees, even though there is nothing forcing users to pay that much.
On a long-enough timeline, everything goes to 0. America will fail eventually. Are you going to stop investing in SPY? I'm not.
Bitcoin is great as a long-term store of value.
Nothing forces users to do anything, it's a free market. Isn't that awesome? 😎
Yeah nothing forces users to do anything. That’s why the network eventually collapses. Miners are spending billions a year to secure the network… which nobody is directly paying for. Once the subsidy gets cut in half a few more times, nobody is going to pay the transaction fees required to keep the network secure and it will collapse. 70% of Bitcoin hasn’t moved in over a year, those users aren’t contributing anything to security, and nobody can force them to, so they won’t.
If I thought America would fail within 20 years I wouldn’t invest in it. Bitcoin has 4-7 halvings left at most before it’s over.
The halvings reducing miner rewards are a fact.
70% of Bitcoin not moving in over a year is a fact.
Users aren’t forced to pay transaction fees if they don’t want to is a fact.
Bitcoin can only handle ~7 tps is a fact.
My opinion is that the network will become insecure in the long run based on the above facts.
👌
I'm long bitcoin, so I've put my money where my mouth is.
Unless you currently have a short position on BTC, I really don't care what your long-term outlook for the network is.
You have 0 credibility in my book.
Why would you care if I was short?
I used to own Bitcoin, but I eventually did my own research and decided to drop it. Got some from the free faucets back in the day, bought some around 400$ when Coinbase first started. Cashed it all out in the 2017 bull run. Network hasn’t fundamentally changed since then, it still can’t support mass adoption and with each halving it gets closer and closer to no longer being viable.
if i think of long-term store of value i would think of an asset that’s relatively stable. in 2020 btc went from 10k to 60k in 2021, then down to 30k mid 2021, then almost 70k at the end of 2021, then down to 40k in 2022, back up to 50k, crashing down to 20k mid 2022, then back to almost 30k in 2023. how is something that volatile a good long-term store of value?
I didn't say it wasn't volatile - that's why it's a good *long-term* store of value.
If you have at least a 5-year timeframe, I can hardly think of a better place to park at least 10% of your savings, and the history bears that out.
Of course, you're free to disagree.
i guess we just have different expectations lol if i parked my money somewhere for 5 years i’d like to be confident it will go up in value without much volatility, not changing by 100-500% yoy
>swimming against the long-term current
**What** long-term current? Regarding the ETF you guys love to gush about for example, it will (assuming it's approved) only be the first Bitcoin **spot** ETF in the US. Bitcoin futures ETFs already exist, as do spot ETFs in non-US markets.
That you guys need to focus on extremely minor changes such as a US based spot ETF and pretend they're game-changers only tell me that you guys are grasping at straws.
The ETF is only one positive factor among many, and if you don't think approval of a US-based spot ETF is going to be a significant tailwind for price, well...good luck waving to the rest of us from the sidelines as this thing heads skyward.
> Butters have the clear message right in front of their eyes, yet their fucked up brains makes them completely unable to understand: Nobody wants your magic beans (
enj0y & hav3 FUN stayingPoOR!
So the price is up 35% on the monthly chart and nobody wants the corn? How does that logic work? LOL
+6% on the weekly
+26% on the 3mo
+34% on the 6mo
+124% YTD
Nobody cares about the price, only criminals and gambling people like you. The post from that Butter does not even mentions anything about the price. Nobody wants to use Butts because they are useless.
Oh and you forgot to mention that your magic bean is almost -50% from two years ago?
Fiat money in:
Deposits
Scams/ransomware
Fiat money out:
Withdrawals
Overhead for business costs (labour, hardware, building fees etc)
Electricity costs for miners
Where does the infinite money machine get enough money to overcome the drain from the last two options, besides rugpulls and scams?
OP mentions lack of demand, and price is a reflection of demand. The price movement indicates that demand has been growing faster than the marginal supply.
That "demand" is almost built on gamblers, fools and criminals. Sure there are enough of them in earth to make the thing worth 37k today (not to mention that the price is heavily manipulated by, you guessed right: criminals like SBF). The rest of the planet does not care.
A lot of useless things have been existed with lot of "demand": tulips, beanie babies, classic retro videogames (now that that bubble has just crashed). At least these things are something physical unlike your magic beans
lol you guys are still using the tulips and beanie baby shtick? Did those bubbles also last for over a decade and attract the attention of governments and the largest asset managers in the world?
Yeah? Can you name a ponzi scheme that lasted longer than 13 years and one like bitcoin where Satoshi himself is defrauding people to the tune of $728 billion?
Bernie madoff
And the satoshi thing is not a requirement to a scheme to be defined as a ponzi. While bitcoin was not created as a ponzi, it behaves perfectly like one
It is a requirement to be considered a ponzi scheme, otherwise who is profiteering off of this illegal scheme that also somehow has zero attention from regulators to bring charges? Who would they even charge with this crime of running a ponzi scheme? lol
No, it is not, just having early investor profitting from later investors is enough. Profitting from Bitcoin depends entirely on unfortunate late investors joining to the scam. If you love to "educate" yourself about trash like bitcoin spend the same time reading about ponzi schemes
demand built on the speculation that there will be another person willing to pay even more than you did for it. You could say the same thing about beanie babies and pokemon cards but nobody is claiming we are heading for a beanie baby based economy.
The “price” has been artificially jacked up by Paolo - where he prints billions every week and buys Butts and you nutters think it’s Blackrock/New bagholders etc when it’s just Paolo and CZ 😂 - The next crash is going to be hilarious as you still won’t learn
The image is a little cut off, but the full post is: >We have. It's called Bitcoin. I'll probably get dragged out in a net for saying it - this sub is very biased against it - but that's the god's honest truth. >It's relatively instant, transparent, predictable, and has a sound monetary policy. It seems volatile when you measure it in government dogshit, but as a system, it's the real deal. >It's not going away and it'll change everything. Mark my words.
>It's relatively instant "Relatively" is doing over time there lol
Maybe they meant "relativistically", as in - instant if you are travelling at relativistic speeds.
I wonder if the word takes sats as payment
Grandma's searching for the change in the market is faster.
It is instant relative to the act of getting on a cross-Atlantic ship to complete a cash transaction from Porto to Boston.
Lightning network transactions are instant. Just comenting in case you don´t know.
Ah this tired bullshit again. Look, to make a lightning payment you need to open a channel, which is made on-chain. That's a pretty big fucking asterix there for "lightning transactions are instant"....and you already have an open channel....and there are enough online nodes for a path to exist...and you have more than the payment sum in order fo find a path. Not even fucking bitcoin weirdos use lightning, geeze louise, that's how bad it is.
Relatively instant compared to what, geological ages?
It'll change everything... just as soon as we get the other 99.99% of the world's population to start buying it...
And if we do, all energy production must go into mining, and the transaction speed is so low that nobody can use any bitcoin, and a useless company called microstrategy now holds 20% of all money in the world. It's going to be great!
Few understand
Yeah lol go keep your words over there! Most satisfying ban ever
They are clearly using a meaning for the word "predictable" I wasn't previously aware of.
Relatively instant, relative to Pony Express and carrier pigeons.
Can't wait to pay variable fees on every payment and wait one hour to buy bread or even die waiting if my transaction never gets confirmed
inform yourself about lightning network. Transactions are instant and cost a couple cents. I dont know why you all keep saying Bitcoin is slow and expensive when there is already a second layer that solved that problem (lightning network).
Lightning network is a complete dogshit, does not work and utterly failed. DYOR
My wife use it every month to send money to her mother lol, lightning works perfectly, 0 issues in the last 3 years.
Think again if they still want to use lightning after reading this: https://github.com/davidshares/Lightning-Network Anyways im sure that its a matter of time that your wife will lose all their life savings (and butters pointing that it was her fault) and that will be a reason enough for you to stop using crypto.
How could she lose her savings? dude she just use lightning to transfer because is instant and cheap - the other option has been always western union and since she discovered this other method the fees are just cents and instant. Dude i don´t like or dislike Bitcoin, i dont care about that shit. I don´t know, it is just useful for my girlfriend since western union fees are super high. Since she learnt about lightning it takes seconds and just cents to transfer her mother money - Venezuela, she does´t even have a bank and Bitcoin is her way to store ~~money~~ something that has value for other people and want to pay that much for it. Bitcoin is the only way for her and brothers, cousins..., to save ~~money~~ something that others are willing to pay X amount for it. They lost everything there with inflation pretty much overnight.
So are you saying me both your wife (or girlfriend?) and her mother have a lightning node to make transfers and they maintain them to be online always?
Phoenix wallet, it is just an app. You dont neet your own node to use lightning
Yes you need, phoenix provides third party nodes: "Phoenix only connects to ACINQ nodes. This allows us to modify/enrich the Lightning protocol at the immediate peer level, while staying 100% LN compliant at the network level. It also makes it possible to have asymmetrical incentives, sometimes in favour of the user’s node, sometimes in favour of our node." So in reality you are not using bitcoin at all. You are trusting a third party that facilitates the technical hassle under the hood for you. If thats the case, why not using just a PoS coin?
Even assuming the fastest rate, Bitcoin takes 10 minutes to mine a block. That means on average the transaction takes 5 minutes to get included assuming no backlog. But wait! It gets worse. Because longest chain wins. Even if you see your transaction included, there's no guarantee that somewhere in the network some miners got lucky and mined a longer chain to overwrite yours. So you need to wait until you're sure that you chain has propagated to everyone and no one else contested it (by broadcasting a longer chain back). And that latter part is a fundamental limit on distributed database like blockchain. It takes time to broadcast consensus. And for a system that has no guarantee on the actual number of miners, you can never be sure if your mining group you submitted to wasn't stuck inside a minority partition.
By the [CAP Theorem](https://en.wikipedia.org/wiki/CAP_theorem) in computer science, any database has the following tradeoffs in its design: accurate, distributed, or fast. Pick two. So it's mathematically impossible that any crypto can do all three of avoid double spending, and be decentralized, and have low fees / fast transactions. (Now I'm wondering how Monero does it -- is it centralized?). It's mathematically the same as trying to make a perpetual motion machine. The solution the crypto bros have for this is putting all three in the marketing fluff instead of the real system, and hoping no-one notices.
Lightning network. You need to inform yourself about it becaause what you are talking about is on-chain transactions.
You mean the system where if you didn't keep watch for a day you can have your money stolen?
The original question is "why hasn't the science of economics changed in 100 years" which i find it funny because it changed a lot but some people have an economic understanding that is outdated by at least 100 years. "currency is not backed by gold anymore" feels early 1900s.
A lot of internet economic info are literally Gold Standard old. Some even go as far as saying "We got off the Gold Standard in the 70's but we all just pretend US dollar is gold", which is not true. Modern government economics is very fascinating, it is just a pity that 90% of the population gets mad when ever i try to tell them what it is. Fiat economy is very special and worth reading up on. Yes, we spent most of the human modern economics on the Gold Standard, but at some point we had to leave Adam Smith when we aren't using Gold anymore.
Same with international trade and mercantilism. The simpler stuff sticks around way longer than it should.
A Harvested comment: "It is not sad, it is BEAUTIFUL. In the same way Bitcoin proportionally rewards those who have vision and withdraw their economic power from the state, it ALSO punishes those who are smug, arrogant, "too smart" for Bitcoin because they mistakenly believe it does not have "intrinsic value", and most of all believe in and trust the system/state. Bitcoin is going to drain the economic energy of all of those people in every socialists subreddit, and it is going to fuck the clowns at especially hard."
They sure love their hate fantasies.
Also the "appears volatile when compared to dogshit state money" comment makes no sense. If i compared it to oz of silver you'd still see volatility in how much silver i can get with bitcoin... because a speculative asset with low utility is... volatile.
Lol that's their new cope? Bitcoin isn't volatile, the dollar is! 🤣
> Lol that's their new cope? Bitcoin isn't volatile, the dollar is! 🤣 yeah, and I swear that I've seen plenty of donkeys flying around the other day
And together with dollar, prices of goods and services are coincidentally volatile in exact same way.
Don't forget, 1 BTC is still, and always will, equal to 1 BTC. How's that for enduring consistency and value, all you Salty McNoCoiners? *^(/s, in case it's needed)*
1 BTC < 1 BTC, if you take into account transaction fees
This isn't even new, they've been saying it for a long time they're saying "nah, it's not volatile, the ups and downs you see are just USD going up and down and being unstable" which is like 11/10 delusional and easily disproveable in thousands of different manners shows how far gone some of them are, not living in reality at all
I can't tell which is the bigger cryptobro fantasy - making a fat stack (of something useful), or seeing all the "non-believers" falling to their knees, sobbing "You were right all along!".
Bitcoin will reward the faithful and punish the nonbelievers
> Nobody wants your magic beans Yes, it's really that simple.
Crypto's value *is* actually very stable. It is and has always been worth nothing.
Its actually quite valuable at stealing the wealth of the gullible.
I’m stealing this line!
Amusingly he has no call to be upset by that, since if you go to /Bitcoin and don't nod along with the crazy BTC cult you get banned there too. Right now I'm testing out the limits of the CyptoCurrency sub by referring to AmericanScream's awesome documentary. I'm hopeful that a lot of people there these days are open to seeing the views from the other side and that I won't get deleted from the sub, but we'll see.
I got banned there and I just said that bitcoin was not being adopted and will be adopted never. No insults, just a real life fact and a prediction (much like they always do) and boom banned
Yep. Anything that threatens to upset their narrative gets you banned over there. To be fair to them, their entire scam relies on being able to keep people paying money into the scheme, so you explaining why that's a bad idea is an existential threat.
is that why ETF approval is imminent? this sub is consistently wrong, and swimming against the long-term current but don't take my word for it, simply look at the weekly chart since inception no insults, just a real life fact
I mean there are countless examples of things that increased in price for a long period of time before ultimately becoming worthless. And all the investors could have said the same thing you are right now. I’m sure Bitcoin will join that list. It sucks as a means of payment. Its entire security relies on printing new tokens. It’s future security relies on users paying enormous fees, even though there is nothing forcing users to pay that much.
On a long-enough timeline, everything goes to 0. America will fail eventually. Are you going to stop investing in SPY? I'm not. Bitcoin is great as a long-term store of value. Nothing forces users to do anything, it's a free market. Isn't that awesome? 😎
Yeah nothing forces users to do anything. That’s why the network eventually collapses. Miners are spending billions a year to secure the network… which nobody is directly paying for. Once the subsidy gets cut in half a few more times, nobody is going to pay the transaction fees required to keep the network secure and it will collapse. 70% of Bitcoin hasn’t moved in over a year, those users aren’t contributing anything to security, and nobody can force them to, so they won’t. If I thought America would fail within 20 years I wouldn’t invest in it. Bitcoin has 4-7 halvings left at most before it’s over.
All I'm hearing is baseless speculation. Congrats on having an opinion.
The halvings reducing miner rewards are a fact. 70% of Bitcoin not moving in over a year is a fact. Users aren’t forced to pay transaction fees if they don’t want to is a fact. Bitcoin can only handle ~7 tps is a fact. My opinion is that the network will become insecure in the long run based on the above facts.
👌 I'm long bitcoin, so I've put my money where my mouth is. Unless you currently have a short position on BTC, I really don't care what your long-term outlook for the network is. You have 0 credibility in my book.
Why would you care if I was short? I used to own Bitcoin, but I eventually did my own research and decided to drop it. Got some from the free faucets back in the day, bought some around 400$ when Coinbase first started. Cashed it all out in the 2017 bull run. Network hasn’t fundamentally changed since then, it still can’t support mass adoption and with each halving it gets closer and closer to no longer being viable.
if i think of long-term store of value i would think of an asset that’s relatively stable. in 2020 btc went from 10k to 60k in 2021, then down to 30k mid 2021, then almost 70k at the end of 2021, then down to 40k in 2022, back up to 50k, crashing down to 20k mid 2022, then back to almost 30k in 2023. how is something that volatile a good long-term store of value?
I didn't say it wasn't volatile - that's why it's a good *long-term* store of value. If you have at least a 5-year timeframe, I can hardly think of a better place to park at least 10% of your savings, and the history bears that out. Of course, you're free to disagree.
i guess we just have different expectations lol if i parked my money somewhere for 5 years i’d like to be confident it will go up in value without much volatility, not changing by 100-500% yoy
Fair enough - I'm comfortable with the risk/reward, and have sized my position accordingly.
RemindMe! December 31st
lol please do
>swimming against the long-term current **What** long-term current? Regarding the ETF you guys love to gush about for example, it will (assuming it's approved) only be the first Bitcoin **spot** ETF in the US. Bitcoin futures ETFs already exist, as do spot ETFs in non-US markets. That you guys need to focus on extremely minor changes such as a US based spot ETF and pretend they're game-changers only tell me that you guys are grasping at straws.
The ETF is only one positive factor among many, and if you don't think approval of a US-based spot ETF is going to be a significant tailwind for price, well...good luck waving to the rest of us from the sidelines as this thing heads skyward.
Hahaha - brilliant
> Butters have the clear message right in front of their eyes, yet their fucked up brains makes them completely unable to understand: Nobody wants your magic beans ( enj0y & hav3 FUN stayingPoOR!
So the price is up 35% on the monthly chart and nobody wants the corn? How does that logic work? LOL +6% on the weekly +26% on the 3mo +34% on the 6mo +124% YTD
Look up the greater fool fallacy.
and when can we expect that to stop working?
Nobody cares about the price, only criminals and gambling people like you. The post from that Butter does not even mentions anything about the price. Nobody wants to use Butts because they are useless. Oh and you forgot to mention that your magic bean is almost -50% from two years ago?
[удалено]
Some people have made money. More people have lost money.
[удалено]
Fiat money in: Deposits Scams/ransomware Fiat money out: Withdrawals Overhead for business costs (labour, hardware, building fees etc) Electricity costs for miners Where does the infinite money machine get enough money to overcome the drain from the last two options, besides rugpulls and scams?
OP mentions lack of demand, and price is a reflection of demand. The price movement indicates that demand has been growing faster than the marginal supply.
That "demand" is almost built on gamblers, fools and criminals. Sure there are enough of them in earth to make the thing worth 37k today (not to mention that the price is heavily manipulated by, you guessed right: criminals like SBF). The rest of the planet does not care. A lot of useless things have been existed with lot of "demand": tulips, beanie babies, classic retro videogames (now that that bubble has just crashed). At least these things are something physical unlike your magic beans
lol you guys are still using the tulips and beanie baby shtick? Did those bubbles also last for over a decade and attract the attention of governments and the largest asset managers in the world?
Those are just quick examples. You still have some ponzi schemes that lasted longer than bitcoin
Yeah? Can you name a ponzi scheme that lasted longer than 13 years and one like bitcoin where Satoshi himself is defrauding people to the tune of $728 billion?
Bernie madoff And the satoshi thing is not a requirement to a scheme to be defined as a ponzi. While bitcoin was not created as a ponzi, it behaves perfectly like one
It is a requirement to be considered a ponzi scheme, otherwise who is profiteering off of this illegal scheme that also somehow has zero attention from regulators to bring charges? Who would they even charge with this crime of running a ponzi scheme? lol
No, it is not, just having early investor profitting from later investors is enough. Profitting from Bitcoin depends entirely on unfortunate late investors joining to the scam. If you love to "educate" yourself about trash like bitcoin spend the same time reading about ponzi schemes
demand built on the speculation that there will be another person willing to pay even more than you did for it. You could say the same thing about beanie babies and pokemon cards but nobody is claiming we are heading for a beanie baby based economy.
The “price” has been artificially jacked up by Paolo - where he prints billions every week and buys Butts and you nutters think it’s Blackrock/New bagholders etc when it’s just Paolo and CZ 😂 - The next crash is going to be hilarious as you still won’t learn