Proof of Work is Proof of Ponzi

D

dozu888

In a technically distributed decentralized vehicle, how do you orchestrate a scam where the late comers pay more?

Satoshi is a genius, not in the sense of coming up with bitcoin... crypto technology is long known... he is a genius in the Proof of Work scheme.

If the price to pay = 0, then how do you convince people to buy from you?
If the price is always pennies per, it might as well be 0;
If the price is always high, then himself would have to pay too much to get his 5% share.

So, set in a way that it's cheap in the beginning, grab a big share, then let late comers pay more.

Genius.... and he will stay faceless.... otherwise if one day the whole world sees the ponzi scheme it is, he will have nowhere to hide, especially from all the drug dealers he has ripped off.

You can't make this stuff up... per Einstein, don't underestimate the human stupidity. (or genius, I guess).
 
this is a trading forum and traders make money through the movement of price

a neutrally biased trader profits from price movement in both directions

the price of bitcoin moves up and price moves down

be neutrally biased and profit from the moves
 
justsomedude said:
this is a trading forum and traders make money through the movement of price

a neutrally biased trader profits from price movement in both directions

the price of bitcoin moves up and price moves down

be neutrally biased and profit from the moves
More...

neutrally biased traders rarely get rich.

People who have made it a big mostly had a bias. Soros, Buffet, the 'Big Short', etc.

Identify a big mistake by the public in evaluating something too high or too low, that's how you make a killing.

A trading edge is not necessarily just in reading price action or what not... Analytical skills should be applied to all aspects of trading.

And valuation judgement is a far more important aspect than price action judgement.

This is a trading forum. The goal is profit, not bias.
 
pity... you seem to have a strong conviction ...

in my experience, bitcoin is liquid and follows market principles and well-established and defined order of events

nevertheless, best to you
 
justsomedude said:
pity... you seem to have a strong conviction ...

in my experience, bitcoin is liquid and follows market principles and well-established and defined order of events

nevertheless, best to you
More...

lol.... the market principles of the whales. 4% of addresses own 90%+ of the coins... this is a true rat poison, for either investing or trading.
 
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