The definition of Ponzi is over 100 year old. The world has changed a lot so the defintion should be adapted. Just like a car from 100 years ago does not match a car from today. Same for all 100 year old products. Crypto's are the newest versions of improved ponzi schemes. There is no underlying value with crypto's, so the price is what people want to pay for air. If a crypto crashes, there is nothing to liquidate, no assets, nothing. And air is for free, so you cannot sell it to recover your crypto losses.
Exactly. The system was designed this way to give the impression of rising wages and prosperity when in reality all this has done is widen the economic gap between rich and poor. Wages have not kept pace with consumer prices. The American and Canadian consumers in real time are worse off than ever before, deeply in debt. All the while the elites like Musk extract hundreds of billions for inferior cars that sell in count at a fraction of the other global car makers. All in the name of profit maximization. Oil prices have come down 24% yet gasoline prices have not moved an inch. I am well aware of the delayed effect of refining oil yet someone here is squeezing the public to death and it is all masked by inflation to give the consumer the false sense of security because their savings accounts and wages increase a measly 2-3% per year.
There are still enough idiots who want to take a gamble. Only problem is: who will have the crypto's when "the music stops to play"?
The thread below made that kind of statements too. Let's see below where we are now as we are a few years further. Your statement has as only purpose to push people to buy and they can never attack you as you will say:"wait till 1/1/2030." That's the optimal answer to cover a scam and give it a few years of time. Ponzi systems need to buy time as much as possible, to maximize their profits. When the time is gone, people go to jail. Like Madoff. With a theoretical lineair growth till 2022, all the periodical returns are behind around 75%. The underperforming of BTC grew systematically and BTC was never able to beat the lineair growth. Today the value of 1 BTC should have been $257,979.22, but is in reality 92.10% behind. So there is $237,597.57 missing for each coin. BTC needs a miracle to reach the 10MM by 2028. The, over 4 years, weakness and inability to even beat the lineair growth tells everything.
The past year, crypto's (-75%) stole 20 years of inflation in one year. That's more criminal than inflation.
A bag of true and completely false information. For example, wealth is not always inherited, it is often times self-made. What is true is that the tax and corporate system greatly favors elites at the expense of the middle class which leads to a society that is out of balance. The only way to prevent riots and a revolution is to manipulate the masses into thinking the American dream is alive and well and that anyone who works hard can make it. That is not true. Riches, especially enormous riches, are a very complicated combination of pure luck, hard work, smarts, and good timing. Not everyone who works hard gets rich.
He didn't suggest otherwise. He just pointed to its snowballing effect. I cannot find a single fault with his presentation.
Give it time to settle. Its still all very early. But when it does settle, the entire world will be using the guaranteed honesty of the network and the price for this will be very high indeed.