Search results

To me a low risk sytem in one where the risk is defined and the reward is unlimited.

I think I'm being misunderstood if you think I'm arguing fiat vs bitcoin. I'm arguing that at the moment, bitcoin is not something I would invest in and if I did I would have it on a tight leash. I'm arguing that buy and hold is not a good strategy. I'm arguing that it is difficult to value...

Really. It's a question asked to the coiners who want me to invest in bitcoin at this time.

One thing I found about being a successful speculator is that you have to deal with what you have and take advantage of the opportunities presented at the time. Right now in North America we are dealing in fiat with reasonably stable governments. That's the game I'll play until it changes. How...

Please let's get this straight. Just because I can't figure out how to value bitcoin and the fact I think it's a ponzi of sorts doesn't mean I won't speculate given the opportunity. It's what I do. I have said all along that I'll buy when the trend changes. I've also said that I'll have a stop...

Can't argue with not knowing about it technically. I understand that blockchain is software. It was developed and refined. No one controls it. My concern is what is to stop someone from coming up with a better software that puts bitcoin out of business. Something faster, more secure, less...

:)

And that lie would be?? That bitcoin meets the definition of a ponzi? That there is no practicle way to value bitcoin? That there is no downside to cash when the price of an asset is falling? That bitcoin requires a greater fool to keep increasing in value? That bitcoin is having trouble being...

Geez !! Look at the whole conversation. That's what I like about you John. When you don't have an answer you attack the poster.

We are not discussing how it's traded we are discussing why it is or isn't a ponzi.

Commodities have an inherent value in that there is an end use.

I'm well aware of that. Where is the demand for bitcoin going to come from? Someone who believes the price is going to increase. If you buy your bitcoin from another investor the money stays in the system. if you are going to make a profit you (thru an exchange who takes a small cut whether you...

The thing is that gold has a value as a commodity. there is a demand for it in jewelry and electronic. where is the demand for bitcoin?

But you have to find someone to buy it from you. New money comes in to pay the existing investors. That has to come from someone else. Bitcoin doesn't have any income. That fits the deifinition of a ponzi.

What and just leave it in your wallet until you die? To get your money out you need new money to come in

So if you are an existing investor how do you get your money out? You have to find someone who is willing to put money in? PONZI!!!

Every one seems to be arguing about the guys credentials. Nobody is refruting the claim that bitcoin is a get rich ponzi scheme.

Oh it's sincere. I'm hoping that by having to explan your risk management methodology you might find that there might be things that could improve on it and that others might benefit. I can see your reluctance as anything one does on an open forum is open to all sorts of criticism.

One thing of interest was that 80% of bitcoin mining power is controlled by 6 pools. It must be true because it's on the internet but is there a way to verify that claim?

LOL OK; semantics :) I hope I wasn't wasting other peoples time. I believe that other people should question their belief's and think for themselves. And I still think that other people would be interested in how you control risk. Who knows, some one (one of the other people) might benifit...