Bitcoin is a "ponzi by proxy"

GlobalMacro90 said:
it’s just like tulips! Except it crashed over 75% 5 times, came back every time, has had triple digit annualized returns for over a decade with a sharpe of over 1.

so actually nothing like the tulips at all lol.
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On the plus side, at least tulips passed the smell test. :)
 
Bitcoin has no intrinsic value and is not backed by ANYTHING. Imagination makes it "real." But, yeah, go at it. People have made money trading it, and good for them. Good for you. But that doesn't make it any less of a musical chair timebomb.
 
deaddog said:
A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.

A financial bubble is a situation where the prices of an asset or an asset class rise rapidly and excessively above their intrinsic or fundamental value. This is usually driven by speculative demand and irrational behavior.

Bitcoin is more of a bubble than a fraud.

As to who's recruiting me to invest, well aside from the ET bitcoiners, there's dozens of Youtubers and soon to be major players like Vanguard and Blackrock.

Anything the Government gives you is a ponzi, and if they run out of money they print more.

FWIW it think BTC is a bubble and will end badly for the HODLers. I'm long BITO until the trend changes.
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If its a bubble,its only part of an everything bubble that may level off before continuing the path that anything of value does.

People need to first consider that their rectangle of dirt with a 600 thousand dollar house on it is magically worth 2 million dollars.

They then need to realise that that is the case due to time honoured laws of supply and demand.

The calibre of people spouting the greater fool theory the last 12 months is beyond laughable.

People bask in the glory of their accomplishments,accomplishments provided by the very same factors driving Bitcoin and scoff at those invested.

If I had said that Real Estate was in a bubble or a manipulation and waited for a correction,I would never have been invested.I knew it was a no brainer,mainly due to my investment horizon.

Talking to nocoiners who try to detract is like to talking to someone who never bought a house 20 years ago when you did,has rented their entire life and tracks you down every time their is a 5% correction to tell you 'things dont look good!i'm glad im not a home owner!'

Its annoying.
 
But is it a ponzi? Forget price, forget criminals and forget what pékelo says , he’s been barking for the last 10 year's reminds me of s0007 :D
 
semperfrosty said:
If its a bubble,its only part of an everything bubble that may level off before continuing the path that anything of value does.
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What value does it have?
It's a method of moving money around. Will it replace fiat, I doubt it as it needs fiat to be of any value.
Is it a hedge against inflation? Ask the guys who bought it at the top.
Is it something you can trade? You bet, just have a method of bailing when the bubble bursts.
 
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