I congratulate everyone who pulls money out of this trash ponzi asset. But the ones who call for $1M bitcoin and try to sucker new people into this cult are the culprit of this mental plague. If you admit that it's a ponzi-fueled pump and dump bubble and you are just trying to make money off of it. That's okay. But the ideas that Bitcoin is some revolutionary idea that will make you grandiose wealth by buying at these prices is beyond asinine.
To quote Ricky Gervais: “That’s like going into a town square, seeing a big notice board and there’s a notice with guitar lessons, and you go, ‘But I don’t f*cking want guitar lessons!’” Mimicks complainant dialing the number on the imagined notice and telling the person on the other end of the phone: “Are you giving guitar lessons? I don’t f*cking want any.’” Reverting back to narrator mode, “Fine, it’s not for you then. Just walk away”
I wouldn't call it a Ponzi scheme as it doesn't have a mastermind behind it who is lying to people to get new funds. I've previously called it a decentralized Ponzi scheme but now I think of it more like a multi-level marketing system. Like Amway and Melaleuca, it's here to stay. And if it's here to stay it's most likely going up as more people join the party. Party on dudes!
Ricky is too funny. But if everyone did that .... there would be no social media to speak of. Make that anti-social media.
I get the sense that the "whales" are more or less painting the tape. If so, that makes it somewhat oligopolistic, which, just for the sake of argument, doesn't necessarily preclude a Ponzi.
orbit23 has gone mental on bitcoin and crypto, over and over telling everyone to sell before the bitcoin spot ETF's and afterwards kept going on and on and on to sell before Tether blows up Now he's blaming people who are bullish on Bitcoin going to $1M orbit23 is a sad troll now looking for all the buttons he can push Bitcoin will to go $1M per btc before 2030, and by 2038 it will hit $10M per btc It's simple math. Fidelity thinks $1B but I think it's too bullish 2028 another halving, 2032 another halving and 2036 another halving, bitcoin will be extremely extremely scarce asset
I DESPISE this space. Having that said, what are some interesting meme coins at the moment? Because what i am seeing right now is people talking about how bearish they are on meme coins. (donalt on crypto for example, and also seeing others) But then at the same time the GME degens are eyeing meme coins. So you have people willing to short these shitty assets, but then this retail flow can create enormous force and make big price moves on these assets that have such thin liquidity.