BITCOIN as an alternative to regular currency

[Big Bad Barney]

Early adopters of crypto were the really smart ones.

...sure - as is always the case with ponzi schemes, it's being most aware of when will the music stop

I don't know if you'd want to go correlating early adoption with smart. You could just as well correlate ignorance.

Pretty sure there's lots of people who have won the lottery and can't do the math on what a poor investment that ticket was...

[danwall1]

Bitcoin i feel is an unregulated currency. Who actually says its worth what it actually is? only the people who started it. I feel (and many will disagree) its like the modern day pyramid schemes.
please find below a funny video link of how I think Bitcoin and all crypto currency are really worth. Before you slate me have a look at the video and have a really good think about.

https://youtu.be/ZiJa9diJOMk

[Euler]

This was probably the only tech bubble I never had an early interest in. But having lived through so many, this has been quite spectacular. But it seems each generation has this sort of moment when they pile into something simply on the basis that people are piling into it.

[alexmr2]

...as always "stupid is as stupid does" so a wise man once said

Just thinking of one advantage, if you found bitcoin in the grave next to Arch Stanton's instead of gold then it would have been easier to carry through the desert

[Tuco]

Just thinking of one advantage, if you found bitcoin in the grave next to Arch Stanton's instead of gold then it would have been easier to carry through the desert

[Zenyatta]

Big plunge again now, nose-diving hard. I get the distinct impression that one day one if these big plunges is just going to keep on going and take the price to zero.
Bitcoin passing 36K, 35, 34, 33, 32, 31......

[firlandsfarm]

Big plunge again now, nose-diving hard. I get the distinct impression that one day one if these big plunges is just going to keep on going and take the price to zero.
Bitcoin passing 36K, 35, 34, 33, 32, 31......

Isn't Bitcoin a Ponzi scheme by another name?! It is not supported by assets and new buyers are effectively funding old sellers.

When more want to sell (get out with a profit) than buyers the price must fall made worse by the addition of new coins being mined constantly. It's value is only upheld by it's fashionable popularity and as we know things go out of fashion and become unpopular.

[wearthefoxhat]

Big plunge again now, nose-diving hard. I get the distinct impression that one day one if these big plunges is just going to keep on going and take the price to zero.
Bitcoin passing 36K, 35, 34, 33, 32, 31......

Isn't Bitcoin a Ponzi scheme by another name?! It is not supported by assets and new buyers are effectively funding old sellers.

When more want to sell (get out with a profit) than buyers the price must fall made worse by the addition of new coins being mined constantly. It's value is only upheld by it's fashionable popularity and as we know things go out of fashion and become unpopular.

Sort of.

More information about Bitcoin and its' creation is known in advance. (halving). In an actual Ponzi, the creator runs out of new investors/new money and then tries to run away when everyone wants to cash out. There have been Ponzi's associated with Bitcoin, ie: Operators of Bitconnect, but it wasn't actually Bitcoin that was the Ponzi.

Here's a quick 5 minute YT.

https://99bitcoins.com/bitcoin-mining/halving/

MaxBitcoin.png

[Euler]

It's not strictly a Ponzi, but it is very reliant on people buying and selling it to have any value. But it has no underlying value and its volatility makes it useless for doing anything with it. It's ultimate speculative instrument. It seems every generation has one. But economic relative always kicks in later rather than sooner.

[Kai]

Tricky period for full-time HODLers.

[Realrocknrolla]

Had a ride down this last few weeks and made enough to treat the Mrs.

Can only see it going back up.

https://aggr.trade/

[Kai]

When in doubt, zoom out

[firlandsfarm]

More information about Bitcoin and its' creation is known in advance. (halving). In an actual Ponzi, the creator runs out of new investors/new money and then tries to run away when everyone wants to cash out. There have been Ponzi's associated with Bitcoin, ie: Operators of Bitconnect, but it wasn't actually Bitcoin that was the Ponzi.

Here's a quick 5 minute YT.

https://99bitcoins.com/bitcoin-mining/halving/


MaxBitcoin.png

Hi there WTFH, I understand Ponzi's and Bitcoin (which fits your description of the death of a Ponzi perfectly). When the hype and fashion wears off and the number of sellers and new coins coming into the market (existing investors) wanting to realise their investment is greater than the number of buyers (new investors) the price will collapse just like a Ponzi.

[greenmark]

Bitcoin tumbles below $30,000 on China crypto-crackdown
https://www.bbc.co.uk/news/business-57549543

[jamesedwards]

$33k this morning. $28k by lunchtime. $33k now.

Mad!