Quote:
Originally Posted by topfiverecords
No one is actually investing in BTC. It’s a modified Ponzi scheme that they’re going in aware that the only way they get more out than they put in is if others put money in too in large enough numbers over a short enough period of time.
Without more buys than sells, the price of BTC would stagnate and confidence would erode causing people to begin to take their profit or loss, while others get caught with their pants down.
Because there’s no actual supporting value, once whale holders have made a profit target they can move the market significantly downward causing all the minnows to panic sell. Why are they panic selling if it has some sort of intrinsic value? Because there is no intrinsic value. They are forever on edge of the volatility.
The volatility will never cease because those with large positions use the fact that Bitcoin has no value to their advantage. Oscillating taking gains both ways, picking off the weak positions making poor bets.
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Ummm, what? I know lots of people that invest in BTC, and have done so for the long-term so they can retire. If you're smart you invest what you can afford to lose.
I get the argument that Fuzz is making, but whatever you are babbling on about makes zero sense.