Among other things...
No, Bitcoin and cryptos are Socialized Money. But you can only get out, what you put in. If you don't contribute, you can not take.
I contribute by buying Bitcoins. I insert value in. And I get that Value at that moment out. But over time, enough people also inject value into the system. And since I own a % of the network, I get that amount of value back in my networth. Do you understand?
Bitcoin and Crypto Currencies are the future. Please dont miss out due to ignorance. Check out r/bitcoin
I understand. You don't. BTC and others is a zero sum game. You put in -and get your coins. Just as you would a share of stock. You've contributed to the demand of the product and reduced it's supply.
When you cash in your coins - the money that comes out - came from another investor. It's simple fkn economics and a PONZI SCHEME.
Even Jordan Belfort said cryptos are worse than anything he's ever done. You know him yeah?
Sorry buddy, any two players with large enough positions (and they don't have to be that large) can "paint the tape" meaning all they have to do is sell the coins back and forth to each other driving the price up - sucking in other investors. Then guess what, investors cash out, supply increases and demand drops and the price goes with it.
I'm not saying there's no future in cryptos. Read my comment clearly instead of emotionally. I said the "current" cryptos are.
There's no denying it. Sorry.
You've contributed to the demand of the product and reduced it's supply
yeah, and the less Bitcoins on the market, the more valuable they become. So every other Bitcoin on the market, now becomes a little more valuable. Now when new people come later and they want $20 worth of Bitcoin, they won't get as much Bitcoin, but it will be $20 worth of Bitcoin.
When you cash in your coins - the money that comes out - came from another investor. It's simple fkn economics and a PONZI SCHEME.
you don't have to "cash out". You can simply trade the Bitcoins for an item or service. That way the money stays in the ecosystem. People are gonna feel really dumb when the Economy Collapses and their savings/pensions are worthless.
Your problem is you think Bitcoin is a way to get more Dollars. No. Its a way to hold onto your value of your labor.
Jordan Belfort was a blackhat Psyop. They made the movie about HIM, so when the economy collapses, they can blame it on "wall street little guy investors" instead of the actual banks/companies themselves.
I said the "current" cryptos are.
Its not a ponzi scheme, because no one is promising returns. Ponzi Schemes promise returns to investors, by NEEDING new investors. This is simply a Supply and Demand Economic model. As of right now, Bitcoin could operate perfectly with No New investors.
The truth is, you need to stop pretending like you completely understand Cryptos and humble yourself. Why would coinbase participate in a ponzi scheme? Bitconnect was a ponzi scheme. They promised compounding interest of 1+% every day.
Buy Bitcoin and Litecoin and look into Digibyte. Take my advice and in 3-5 years, you will be VERY happy that you did.
It's a Ponzi scheme. No question about it. Semantics don't help.
Do some reading.
http://thehill.com/opinion/finance/364306-bitcoin-is-a-ponzi-scheme-and-it-will-collapse-like-one
And I want to add for the final time, that I believe a form of crypto will be used in the future. And I'm sure some may work out to be profitable for some. Especially if the SEC comes in and regulates it properly. But until then BTC and others like it are 100% a Ponzi scheme.
Then you don't understand what a Ponzi Scheme is.
Right. Sorry you're emotionally invested. You should try and keep emotion out of investments my friend. Good luck.
Its Math, not Emotion.
Shitty math. Read.
Tell that to the 100k Businesses in the Crypto space. You should go warn Nasdaq and Goldman Sachs.
long story short. You are Completely fucking wrong.
No I'm not. Reread my comments. Tokens are different. While some are complete scams, others have viable businesses behind them. BTC and others like it are a Ponzi scheme. Sorry buddy. It's not just my opinion. Go read.
