luka
Well-known member
I'm in second place after my sister who is a well adjusted and very wise sensible successful monster
Bitcoin
- Thread starter IdleRich
- Start date
I'm in second place after my sister who is a well adjusted and very wise sensible successful monster
sufi
lala
this fellow has been following and knocking bitcoin for a while https://davidgerard.co.uk/blockchai...ee-years-after-the-last-whats-happening-here/
his line is: if it looks like a ponzi scheme...
his line is: if it looks like a ponzi scheme...
Dusty
Tone deaf
But Bitcoin does have a use-case. It is a hedge against the inflationary dollar.
www.cityam.com
The more governments print extra money out of thin air, or gold is dug out of the ground, the more the hard limit on Bitcoin looks attractive.
Almost a fifth of ALL US dollars were created this year
Around 20 per cent of all US dollars were created this year. The surge has led to a debate about inflation and helped asset prices soar.
www.cityam.com
The more governments print extra money out of thin air, or gold is dug out of the ground, the more the hard limit on Bitcoin looks attractive.
hmg
Victory lap
It's not a Ponzi scheme by any definition. No more so than gold.
www.swanbitcoin.com
Why Bitcoin is Not a Ponzi Scheme: Point by Point
Lyn Alden compares and contrasts Bitcoin to systems that have Ponzi-like characteristics, to see if the claim that Bitcin is a ponzi holds up.
Pandiculate
Well-known member
here he is again, with an updated value
Bitcoin: Newport man's plea to find £210m hard drive in tip
James Howells threw away a hard drive containing bitcoin - now worth £210m - by mistake in 2013.
www.bbc.co.uk
IdleRich
IdleRich
Didn't Warren Buffet say that if you don't understand something, don't invest in it.
Leo
Well-known member
I don't think it's a ponzi scheme, per se, but it is just as susceptible to an "irrational exuberance" bubble as any other investment. supporters point to how banks/institutional investors buying in is a sign of assurance, but those are largely the same institutions that bundled and sold subprime mortgages before the housing bubble burst.
Dusty
Tone deaf
It appears to be the perfect vehicle for bubbles to form. Free from any wordly ties, it's the digital distillation of irrational exuberance, and the resulting lows that crush traders and make normal people lose a lot of money. I pity anyone buying bitcoin now, when in 6 months you will be able to buy it for half the price.
hmg
Victory lap
We need a remind me of this post in six months function.
Dusty
Tone deaf
Markets never change. Buy the bottoms not the tops. I tried to get so many friends to buy Bitcoin at $300. No one was interested. They were happy to pay $10,000 though.
IdleRich
IdleRich
You could do that with lots of securities though couldn't you?
Sound advice! What I was talking about was more about the darkweb cyber attacks and monero then investing in bitcoin or anything like that though.
Mr. Tea
Let's Talk About Ceps
Man offers Newport council £50m if it helps find bitcoins in landfill
James Howells offers to share 25% of the £200m he claims is on hard drive he accidentally threw out in 2013
www.theguardian.com
hmg
Victory lap
He's up against the mulish intransigence of the council. No chance.
Mr. Tea
Let's Talk About Ceps
Sort of thing Poe would have written a story about. A man tortured, consumed and eventually destroyed by his obsession with a lost fortune.