Just so it's clear, that wasn't a response to your post. I started typing that up before you made your post. Calling bitcoin a ponzi is a lazy cope at best. You can say a lot of bad things about Bitcoin (e.g. its security policy is completely unsustainable, its PoW system is an unbelievable waste of energy, etc.), but it doesn't meet most criteria of a ponzi. "Ponzi" has just kind of become the blanket term term for nocoiners though, so here we are. Anyways, I prefer tokens that generate a revenue, seems a little less ponzi-ish, amiright
Alright, I invented a new word for the grammatically anals. Cponzi: (from crypto ponzi)a pyramid system where constant inflow of new money is needed to support the price of the system, otherwise it would collapse. Early investors make most of the profits while the newcomers usually end up holding the bag when the system eventually collapses. A cponzi can have useful features/usage or not, that is irrelevant to its basic nature, (and its value not derived from it) what is ultimately making the price constantly go up, and enriching the earliest investors and those who are able to cash out before the inevitable collapse. Happy?
Early investors will make the most in any investment lmao. This isn’t even close to being semi correct
So a ponzi is when early investors make more money than late investors, and people buying makes price go up? That's pretty compelling evidence, but it sounds like you just described any market. Like I said, lazy cope.
Bitcoin is like a technology startup... Click the play and watch a few minutes, it's started at the point discussion
Thanks for sharing that interview. Willy Woo hit the nail on the head. People not in crypto don't understand how 1,000-10,000x returns are possible outside of a bubble, but they don't take the time to understand that those returns are not that unusual if you consider a seed investors returns in a successful tech startup. Many of these tokens launch to the public at seed level valuations, so now we're talking about everyone being able to invest at valuations that are no longer exclusively for VC's or "accredited investors".
Getting hacked Losing your key Data security Not understanding what crypto is useful for (other than crims) Learning a new jargon Unpractical in my life (wtf can I do with crypto) Not recognized by governments as legitimate. These are reasons why I dont partake. Yup, you guys may be making a load of profits, but crypto is another rabbit hole to enter, I have my hands full with my current trading.
Sure. Usually in companies or new technologies that can be useful or profitable later on. As it turned out the original usage of Bitcoin came to a scratching halt. You know, the future of money shit. You also missed the pyramid part and the constant need for money inflow. See post #19 for more education.
Nope. A cponzi is an otherwise not particularly valuable pyramid system with constant need for money inflow. I see you missed the important part. You guys keep getting stuck on the early investors part. That is not the important part of the definition, because with price fluctuation late investors can also make money. Let's repeat it again, a cponzi is: 1. A pyramid scheme. (cryptos keep issuing new coins) 2. Without constant money inflow it collapses. (miners keep selling their newly mined coins) 3. Price is not derived from its intrinsic value or usability. (holy fuck, do I need to explain it?)
People that didn't get into crypto back in 17' or 19' but want to get in now are often worried they're too late. This post is a reminder of how early we still are.