Let's talk about Cryptocurrencies

[dino7c]

Originally Posted by Agamemnon

There is always demand for ponzi schemes, that's how they work, but it doesn't make them efficient for our economy. Some of them can go for years and years before unraveling.

This post won't age well...go back to the start of this thread or the previous Crypto thread lol

[jammies]

Motherf***er. K, avatar me.

[Azure]

Originally Posted by Agamemnon

There is always demand for ponzi schemes, that's how they work, but it doesn't make them efficient for our economy. Some of them can go for years and years before unraveling.

You are delusional or just plain stupid if you think BTC is a ponzi scheme.

[rubecube]

Originally Posted by Azure

You are delusional or just plain stupid if you think BTC is a ponzi scheme.

There are pretty good reasons to view it as a ponzi scheme. I'm not going to debate the dollar value of it, but the predictions that many crypto bros had regarding it's widespread uptake and utility for day-to-day life really haven't come to fruition, nor do they seem any closer to than they did 5 years ago.

Similarly, there was a lot of hype around NFTs when they first came out, and they crashed pretty spectacularly.

[afc wimbledon]

Originally Posted by Azure

You are delusional or just plain stupid if you think BTC is a ponzi scheme.

It is fair to say BTC has parallels with a ponzi scheme, it's an mostly worthless item being sold on the premise that you will double or triple your money on no other basis than other people will join 'the club' and buy your coins off you for a higher price, the difference I guess is the money being defrauded out of the scheme is piecemeal rather than inherent in the coins themselves but if you have enough Sam Bankman Fried's they will kill things just as surely as Bernie Madoff did

[Azure]

When you have billions in investment money via ETFs pouring in, I think you might want to remove the blinders and admit that its likely here to stay.

The utility of it means nothing. The only thing that matters is what value does the market place it at.

Right now its $100k CDN. Next week it might be $50k CDN. Does that make it a ponzi scheme? Perhaps you should go read what a ponzi scheme is.

[rubecube]

Originally Posted by Azure

When you have billions in investment money via ETFs pouring in, I think you might want to remove the blinders and admit that its likely here to stay.

The utility of it means nothing. The only thing that matters is what value does the market place it at.

Right now its $100k CDN. Next week it might be $50k CDN. Does that make it a ponzi scheme? Perhaps you should go read what a ponzi scheme is.

I think what I'm trying to say is that the lack of utility makes it difficult to for an amateur investor to accurately. Dino seems to know what he's doing, but it seems to be a highly volatile asset that you really need to pay attention to or else you can lose your shirt.

[Jason14h]

Originally Posted by rubecube

I think what I'm trying to say is that the lack of utility makes it difficult to for an amateur investor to accurately. Dino seems to know what he's doing, but it seems to be a highly volatile asset that you really need to pay attention to or else you can lose your shirt.

Or just buy and hold the big market cap coins if you believe long term this is an asset class people and funds wants to hold .

It’s actually been impossible to lose money if you didn’t panic sell

[karl262]

Yeah if anyone gets in I hope they consider it a long term thing, what with all the halving events and such. The quick buck kind of people will sometimes get lucky and buy before a spike, then cash out. Otherwise they lose their shirts panic selling after a big drop.
Also, I hope people putting money in consider it being gone, untouchable for 10 years kind of thing.

[chummer]

The last halving for Bitcoin in 2017 it went up 5 times from $200 to a thousand. Then 20 times the following year. I don't think it would be a reach to see Bitcoin at a million by the end of 2025. Many of the alts will go crazy. Like I said earlier I think this is just starting. Enjoy the ride.

[Roof-Daddy]

It's a pretty good bet that bitcoin and many others in this asset class are going to go up substantially for the next 1.5 years or so. They'll fluctuate of course, but the overall trend will be upwards.

No, nobody can tell you exactly how much or for how long, or where exactly the dips will be but that should be the overall trend.

[afc wimbledon]

The trouble is i cannot think of any particular reason BTC can't lose almost all its value other than the fact so far it hasn't, that's the problem with an asset with little utility, as such its a hugely risky long term bet.

I will probably put some cash into Boeing pretty soon, it's a dog of a share right now, company is run by monkeys and doors are falling off its planes in mid air, but it is still the 1/2nd largest aircraft maker in the world, I'd guess that is almost certainly going to get reorganized the guys from McDonald will get punted out and the old Boeing corporate culture will return but even if they don't it's sales, it's patents and products give it utility that is predictable, BTC has none of that, it has no reason to go up or down and no one can really predict what it does because of that

[karl262]

Originally Posted by afc wimbledon

The trouble is i cannot think of any particular reason BTC can't lose almost all its value other than the fact so far it hasn't, that's the problem with an asset with little utility, as such its a hugely risky long term bet.

I will probably put some cash into Boeing pretty soon, it's a dog of a share right now, company is run by monkeys and doors are falling off its planes in mid air, but it is still the 1/2nd largest aircraft maker in the world, I'd guess that is almost certainly going to get reorganized the guys from McDonald will get punted out and the old Boeing corporate culture will return but even if they don't it's sales, it's patents and products give it utility that is predictable, BTC has none of that, it has no reason to go up or down and no one can really predict what it does because of that

I think Boeing is a good blue chip buy. No matter how incompetent or complacent management gets or how many planes fall apart in the sky, the US government won't let Boeing ever fail, too strategically important of a company.

[Osiris]

The entire space is a ponzi scheme. I'm my opinion, there's one real coin that follows the original white paper and that's BSV. The majority of the sector is run by digital currency group. MasterCard is a major player and trying to run the original creator out of the market. The original white paper removes the need for the financial intermediary. It's truly revolutionary invention and if it gains steam it would completely revolutionize the way the world transacts, especially developing nations. COPA vs Wright should conclude in the comings weeks and that outcome could be the start of a truly masterful takedown of some financials giants in the sector. Interesting times ahead!

[dino7c]

Originally Posted by jammies

Motherf***er. K, avatar me.

I won't rub it in, thanks for being a sport and doing the honorable thing
cooking something up, stay tuned

Hey, just be glad I didn't take the 1k

[dino7c]

Originally Posted by afc wimbledon

The trouble is i cannot think of any particular reason BTC can't lose almost all its value other than the fact so far it hasn't, that's the problem with an asset with little utility, as such its a hugely risky long term bet.

I will probably put some cash into Boeing pretty soon, it's a dog of a share right now, company is run by monkeys and doors are falling off its planes in mid air, but it is still the 1/2nd largest aircraft maker in the world, I'd guess that is almost certainly going to get reorganized the guys from McDonald will get punted out and the old Boeing corporate culture will return but even if they don't it's sales, it's patents and products give it utility that is predictable, BTC has none of that, it has no reason to go up or down and no one can really predict what it does because of that

I haven't predicted the exact numbers but I have called nearly every major spike in the last 7 years and it wasn't based on spinning a wheel or flipping a coin. When the demand is high and the supply is squeezed it goes up. As more and more of the limited supply is acquired by "stronger hands" the likelihood of a total collapse goes down considerably. BTC started in 2009, if it's a scam or a scheme its a pretty long play. I'm old enough to remember the .com crash and when this whole internet fad was done because the entire world aren't just going to become computer nerds and do all their shopping and conversing online...

Remember we are talking 21M limited supply but some are lost and unrecoverable so it is even less than that, the demand is obvious. These ETFs are taking in BILLIONS.

[afc wimbledon]

Originally Posted by dino7c

I haven't predicted the exact numbers but I have called nearly every major spike in the last 7 years and it wasn't based on spinning a wheel or flipping a coin. When the demand is high and the supply is squeezed it goes up. As more and more of the limited supply is acquired by "stronger hands" the likelihood of a total collapse goes down considerably. BTC started in 2009, if it's a scam or a scheme its a pretty long play. I'm old enough to remember the .com crash and when this whole internet fad was done because the entire world aren't just going to become computer nerds and do all their shopping and conversing online...

Remember we are talking 21M limited supply but some are lost and unrecoverable so it is even less than that, the demand is obvious. These ETFs are taking in BILLIONS.

all of this is true but it is still based only on the predictability of the customer base, essentially you are betting on the movement of the crowd

I dropped a mint on the guys that make Ozempic and am making a fortune, I also know it's time limited but my bet was based on the fact they have a viable weight loss drug and cannot make enough of it, the company is raking in money hand over fist, because of that I also know the market has jumped in but it is predicated on a thing, the drug.

BTC is predicated on there just being a crowd of buyers, guys like you that have a hunch, followed by a bigger crowd of greedy lemmings, nothing else, historically this is a bubble and all bubbles have burst historically, maybe BTC is different but if so it will be the first time.

I will say if I was in my 30's I'd probably buy some but BTC is a bad bet for anyone over 50

[dino7c]

Originally Posted by afc wimbledon

all of this is true but it is still based only on the predictability of the customer base, essentially you are betting on the movement of the crowd

I dropped a mint on the guys that make Ozempic and am making a fortune, I also know it's time limited but my bet was based on the fact they have a viable weight loss drug and cannot make enough of it, the company is raking in money hand over fist, because of that I also know the market has jumped in but it is predicated on a thing, the drug.

BTC is predicated on there just being a crowd of buyers, guys like you that have a hunch, followed by a bigger crowd of greedy lemmings, nothing else, historically this is a bubble and all bubbles have burst historically, maybe BTC is different but if so it will be the first time.

I will say if I was in my 30's I'd probably buy some but BTC is a bad bet for anyone over 50

15 years is a long bubble especially when it has lost 80% of its value and returned to all time highs

[dino7c]

Originally Posted by jammies

Motherf***er. K, avatar me.

Here you go, I think its pretty tame and all in good fun

Some of you others are free to use it too! seems fitting haha

[Wormius]

Originally Posted by dino7c

Here you go, I think its pretty tame and all in good fun

Some of you others are free to use it too! seems fitting haha

Honesty, it might be better than that avatar of the guy from the Black Keys or whatever.