Bitcoin by itself is definitelly not a ponzi, as there is no promise of returns. It's just a blockchain.
But the only reason(or one of the main reasons) why people believe in Bitcoin is because the price is going up. Basically nobody knows how Bitcoin even works, it's status of development, status of decentralization, architecture, etc... Probably less than 1% of the participants have a good understanding of it.
Because if you were able to understand any of that, you would have understood that it's a complete joke.
The only reason why Bitcoin is where it's at is because the price is going up, consistently.
And why is the price going up? Is it because the people keep buying? Probably not. We have stablecoin called Tether that i believe employs very few people(very similar to how Madoffx ponzi operated; it was the company with the highest capital managed per employee and Tether is very similar in that fashion).
Tether is not regulated and can print Tethers at will without proof of backing. And there is proof they have done so in the past.
And even if Tether was not a ponzi, they are participating in highly regulated activites(money transmitting and whatnot) without any kind of licenses. Even if Tether was backed by a dollar for every Tether, what they are doing is still highly illegal.
Apparently it is VERY hard to take money out of Tether(as you can not redeem); instead you exchange tethers for USDC and redeem USDC through Circle.
While Bitcoin is not a ponzi, Tether is VERY likely a ponzi and they are likely not backed by a dollar for every Tether. So Therefore Bitcoin is a "ponzi by proxy". Bitcoin is not a ponzi, tether is a ponzi and tethers are used(or were used in the past) to prop up the price of Bitcoin.
That's it, that's the post. Bitcoin is most likely a "ponzi by proxy". Fake tether money has been injected into the market("fake it till you make it") until real people started buying. Upon FTX collapse the institutions bought into Bitcoin and are shilling on national television and unloading their bags at high prices on the retail; moms and pops.
But the only reason(or one of the main reasons) why people believe in Bitcoin is because the price is going up. Basically nobody knows how Bitcoin even works, it's status of development, status of decentralization, architecture, etc... Probably less than 1% of the participants have a good understanding of it.
Because if you were able to understand any of that, you would have understood that it's a complete joke.
The only reason why Bitcoin is where it's at is because the price is going up, consistently.
And why is the price going up? Is it because the people keep buying? Probably not. We have stablecoin called Tether that i believe employs very few people(very similar to how Madoffx ponzi operated; it was the company with the highest capital managed per employee and Tether is very similar in that fashion).
Tether is not regulated and can print Tethers at will without proof of backing. And there is proof they have done so in the past.
And even if Tether was not a ponzi, they are participating in highly regulated activites(money transmitting and whatnot) without any kind of licenses. Even if Tether was backed by a dollar for every Tether, what they are doing is still highly illegal.
Apparently it is VERY hard to take money out of Tether(as you can not redeem); instead you exchange tethers for USDC and redeem USDC through Circle.
While Bitcoin is not a ponzi, Tether is VERY likely a ponzi and they are likely not backed by a dollar for every Tether. So Therefore Bitcoin is a "ponzi by proxy". Bitcoin is not a ponzi, tether is a ponzi and tethers are used(or were used in the past) to prop up the price of Bitcoin.
That's it, that's the post. Bitcoin is most likely a "ponzi by proxy". Fake tether money has been injected into the market("fake it till you make it") until real people started buying. Upon FTX collapse the institutions bought into Bitcoin and are shilling on national television and unloading their bags at high prices on the retail; moms and pops.
