No. I don't care about opinions. They always cost money
Bitcoin: the World's first decentralised Ponzi scheme
- Thread starter Nighthawk
- Start date
No. I don't care about opinions. They always cost money
It is a Bitstamp problem. They seem to be overwhelmed with one poor soul waiting for $1.8m.
Bitcoin is not a Ponzi.
A Ponzi is a specific mathematical form, dependent on outflows structured to be greater than current assets (plus perpetual return) allow. And thus requiring new assets -- new members be added. That is not Bitcoin.
Bitcoin is a small-moated service that has found *fashion* and favor and now, FOMO: Fear Of Missing Out. It's a service market born into a bubble.
That's it. That's all. Change your man-panties and wait for the long-term market to show itself.
What will Bitcoin (et alia) be worth in the future? Well, what do credit card transactors get per use now? What would *you* pay, for a secure transaction? THAT'S where we're going.
It's not fancy; it's not wild; it's *not* hard to understand, either. It's just economics.
Bitcoin is PayPal on steroids. When credit issuers tender offers to a crypto (the entire entity, not the "coin" per se, the story ends. It won't be $$$$/Bitcoin, it'll be $0.01/transaction. This will happen before calendar 2018 is out.
A Ponzi is a specific mathematical form, dependent on outflows structured to be greater than current assets (plus perpetual return) allow. And thus requiring new assets -- new members be added. That is not Bitcoin.
Bitcoin is a small-moated service that has found *fashion* and favor and now, FOMO: Fear Of Missing Out. It's a service market born into a bubble.
That's it. That's all. Change your man-panties and wait for the long-term market to show itself.
What will Bitcoin (et alia) be worth in the future? Well, what do credit card transactors get per use now? What would *you* pay, for a secure transaction? THAT'S where we're going.
It's not fancy; it's not wild; it's *not* hard to understand, either. It's just economics.
Bitcoin is PayPal on steroids. When credit issuers tender offers to a crypto (the entire entity, not the "coin" per se, the story ends. It won't be $$$$/Bitcoin, it'll be $0.01/transaction. This will happen before calendar 2018 is out.
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You could argue that Bitcoi isn't a ponzi, but you picked the wrong feature...
Actually it is bitcoin or any crypto. For 2 reasons:
1. Because of mining and new coins coming into the market, there is a constant need for new money to come in and buy those new coins. I think it is about 31 million bucks per day right now. What do you think where would the price be if nobody buys the new coins, a la Dogecoin?
2. Even if there is no new coins anymore, a system needs a certain number of users to be viable. It can be a small village or a country, but if a new coin has only 3 users, it won't take off. Bigger the initial release and number of eventual coins, the more people you need to sustain its growth.
Actually it is bitcoin or any crypto. For 2 reasons:
1. Because of mining and new coins coming into the market, there is a constant need for new money to come in and buy those new coins. I think it is about 31 million bucks per day right now. What do you think where would the price be if nobody buys the new coins, a la Dogecoin?
2. Even if there is no new coins anymore, a system needs a certain number of users to be viable. It can be a small village or a country, but if a new coin has only 3 users, it won't take off. Bigger the initial release and number of eventual coins, the more people you need to sustain its growth.
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You insist in going against logic... There are people who accuse those in favor of cryptos of being cultist/religious... Yet, the arguments they use to do so are completely based on opinions or go straight against facts(exactly like cultist/religious people do). You seem to WANT that what you say be true, maybe because you're jealous of the people who were lucky make some money on this rise of bitcoin, who knows?
THE FACT IS: There is no "need for new money to come and buy those coins"... People CHOOSE to buy this or that coin... And like in every free market, there will be a few coins that will remain(those that continue to be chosen by people) and the others will fail. That is the way every market should function.
I don't care whether it is ponzi or not.
I just want to profit from Bitcoin.
When it is uptrend, I want to profit from it.
when its bubble burst, I also want to profit from it.
I just want to profit from Bitcoin.
When it is uptrend, I want to profit from it.
when its bubble burst, I also want to profit from it.
Hey, finally someone tried to argue...
There is a constant selling pressure on Bitcoin, the miners cashing out some/most of their newly mined coins. Now we could argue just how many % it is of the app. 1900 new coins per day, but that is irrelevant to the point.
Use Finance 101. If a certain product keeps coming to the market in a predictable fashion AND there is no willing buyers, what happens to the price? Oversupply what happens and price drops. Right now it looks like we are reaching an equilibrium between the need for new money and the incoming interest.
As price raises assuming the everyday sold coins stays the same, more and more money is needed to keep up the equilibrium. Now you could argue that if prices raises, miners sell less new coins and that might be so, but the math stays the same, a constant incoming flow of money is needed to keep up the price.
There is a constant selling pressure on Bitcoin, the miners cashing out some/most of their newly mined coins. Now we could argue just how many % it is of the app. 1900 new coins per day, but that is irrelevant to the point.
Use Finance 101. If a certain product keeps coming to the market in a predictable fashion AND there is no willing buyers, what happens to the price? Oversupply what happens and price drops. Right now it looks like we are reaching an equilibrium between the need for new money and the incoming interest.
As price raises assuming the everyday sold coins stays the same, more and more money is needed to keep up the equilibrium. Now you could argue that if prices raises, miners sell less new coins and that might be so, but the math stays the same, a constant incoming flow of money is needed to keep up the price.
So what? There's constant selling AND buying pressure everywhere, for anything... If you are so certain the "selling pressure" is so great, why don't you short it? Then it would not be just an opinion/wish on your part.
Again, if you are so certain, why don't you short it?
Who said the price must be kept up? Everything in this world has price flutuations, some bigger, some smaller, but there will always be ups and downs, why should bitcoin be any different? The speculative value of bitcoin is irrelevant. My personal opinion is that it is indeed too high and it will probably have a rather abrupt correction, but this is just an opinion, worthless, because I honestly have no crystal ball, so I don't dare do make wild assumptions(guesses) about the future.
The real importance of it is the concept of having a non-government issued currency(and I could care less if it is bitcoin or any other coin, probably more then one). This is where the REAL value of cryptos is... A widely accepted currency not subject to whims and policital agendas of idiots. This is the real use of it and that is why it has indeed VALUE.
"Bzzzt!" {that's that buzzer thingie...}
1) It can't go to zero: dilution =/= "Ponzi", Mr. Peks.
2) Again, not the Ponzi model. Nope.
