Bitcoin Price Thread

I didn't really have my life ruined by Bitcoin, but there is a grain of truth in every joke. Though many people will have their lives ruined as this ponzi scheme inevitably collapses.

Ponzi schemes are profitable until the very end; until the collapse everyone is making money (just like with Bitcoin).

Bitcoin is just the biggest grift in the history of man-kind. And Bitcoin is not even a problem because it's a joke in terms of technology, utility, etc...

It's technically not a ponzi, but practically it is. Because you have Tether that is giving customers indefinite credit lines, printing Tethers out of nothing and pumping up the price. It's an obfuscated ponzi scheme.

There is no utility or produce from Bitcoin. It's only feature is price going up, much like in a ponzi scheme. Ponzi schemes promise guaranteed returns, bitcoin promises price appreciation.

And price appreciation is achieved with Bitfinex and Tether price manipulation.

Bitcoin price is a complete joke. There is only so much real money in the system and once it collapses it will be rapid and you will not be able to exit.

Once Tether and Bitfinex go bust or are taken down, it will mark an end to endless price appreciation. They just buy every dip with fake money and prop the market back up. Complete joke.
 
good luck luring in new suckers to sustain the ponzi scheme. Couldn't be me.

the market is obviously fucked when even Trump can't pump it up.

Every bear has flipped bullish. The ponzi is now officially fucked. No more suckers left, no more shorts to squeeze.

we pumped back up into the distribution range with lots of good news (eg. ferrari accepting crypto, Trump speaking,...) ..


Can't get a classier sell the news event than this.
 
orbit23 said:
good luck luring in new suckers to sustain the ponzi scheme. Couldn't be me.
the market is obviously fucked when even Trump can't pump it up.
Every bear has flipped bullish. The ponzi is now officially fucked. No more suckers left, no more shorts to squeeze.
we pumped back up into the distribution range with lots of good news (eg. ferrari accepting crypto, Trump speaking,...) ..
Can't get a classier sell the news event than this.
More...
Luckily crypto trend and general mkt trend are appearing uncorrelated.
I'm bullish crypto atm. It's a good place to be if mkt tanks.
 
the market is obviously fucked when even Trump can't pump it up.
More...

Let us understand your logic here...

When Bitcoin rises in price, this is proof it is 'fucked' because Trump is manipulating it.
When Bitcoin lowers in price, this is proof it is 'fucked' because Trump can't manipulate it.

o_O
 
orbit23 said:
It's technically not a ponzi, but practically it is.
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I'm going to be nice in this post.

If tether wasn't around, would you have better opinions of bitcoin? Perhaps not because you just said its horrible technology, but I wonder what would happen if you could get past your issue about tether. There is so much info out there now about how stablecoins are necessary to support the USD. So I think if you got past this issue, no matter how right you are, you might be able to see the light.

orbit23 said:
There is no utility or produce from Bitcoin.
More...
Second point is this. On the one hand, sending value electronically without permission is in itself extremely valuable. But you are right, that outside of savings value for later use, and sending value, bitcoin is completely useless.

But let me ask you this, if a house only provided shelter, if there wasn't an entire industry set up around the trading of houses, if houses weren't sitting empty while they gain in value (which is now the opposite), wouldn't this actually prove to be better for the world because the house was only reduced to its utility value? If investors got no value out of holding 10 houses, then maybe each person who needs a house to live in could have one.

My point is that bitcoin having no utility outside of storing and sending value is exactly why it is the hardest form of money ever created. When you can't do anything else with it, you use it for only one thing, and then it's value is more pure and concrete.

What can you do with a paper bill? Imagine if a paper bill had so much combustible energy that people preferred burning it vs. coal or wood in their fireplace? The government wouldn't be able to print fast enough. But luckily, people only look at the paper bill as a means to exchange it for something else. We don't make jewellery our of it, or clothes, or burn it for heat, or eat it, etc. The paper bill only has one purpose, which is about the only good thing you can say about it, because that value keeps eroding.
 
If Tether wasn't around i would've called it an over-inflated bubble; in a sense that there is some merit to it, but it's overvalued.

With Tether it's just an obvious and straight-out fraudulent ponzi scheme.

It couldn't be more obvious...

Bitcoin is legit (even though it's technology is shitty), but it's price is a ponzi scheme due to Tether.
 
The fact that you have to be grifting Bitcoiners and crypto users is not a sign of strength, but a sign of desperation.

Crypto users are known to be the most gullible people.

At current stage they are gullible and rich at the same time, so they are easy to take advantage of.

Michael Saylor said it himself, the only choice they had was to go under or go the Bitcoin route. They chose Bitcoin out of desperation.
 
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