Did Bitcoin become an actual Ponzi scheme ?
Ive always been a believer in Bitcoin technology and price.
I also always laughed with the Ponzi stories.
But lately I started feeling a bit strange. Some comments of new participants really disturb me.
Most of the times without any arguments...
- It has always gone up so it will continue
- 10k by the end of the year, 100k 2018
- Banks are afraid
- Ive put my total savings in
Im not saying it will drop, i just think lots of new comers have no clue about history and the speculative nature.
The rise has to be supported by new entrants and they are not unlimited. Also remember Bitcoin will always be most famous and probably valued but technically it is quite outdated.
Thats why I sold all my bitcoins for now...
@sbrys...for your continued kind gesture towards me,am going to give u my honest opinion.
Firstly,what defines a legit business or investment is the probability of profit and loss,uncertainty and risk are the real investment and reward for uncertainty and risk could be either profit or loss...just as bitcoin increased,it could have decreased instead...we are just lucky to get a positive return
Also u are right to think of btc and crypto in general as too good to be true...some crazy events occur with crypto like a 1000% increase and so on but the fact that makes it fair still exist which is it could also have a 1000% decrease..this makes btc a legit investment
Lastly,selling ur btc might be considered a bad move by some peeps but i think its really cool as i have a different view about btc price in the future...it will surely go up but stabilize around some high price in the future and become closely static at that price. ...there are other crypto people would be concerned about
I advise you to buy some steem and sbd as they might be really the best future investment...steem is used on steemit and we mine steem on steemit everyday and steemit is going to gain more popularity very soon which means increase in users result in increase in steem we generate daily which also increases the steem in supply and demand of steem...therby rapidly increasing its price
Nice post my friend💪👍
Thanks man I fully agree. Today my positions are mostly in EOS (sucks a bit right now :)). I also bought some steem because I really like the platform !
I dont think Bitcoin is a fraud. I just think its current price is sustained by a ponzi pyramid. When there are no more people ready to buy it at higher prices it will stop rising. I have a feeling this point is quite close.
Exactly....who would want to buy btc at 100k $....i see it stabilizing or declining in the nearest future...but steem is the best as its demand and supply would be just fairly elastic
If Steemit improves its platform the sky is the limit. But they have to be carefull with copycats that have faster development teams...
True brother....i think am going to make a post about this....i hope u dont mind
Off course ! You got my vote :)
U are soo kind🙏
Hmm very interesting post mate! As a newbie to crypto all i hear is good things abiut bitcoin.. but this helps me to think alot more!
I think Bitcoin is great but I think there is lots of crazyness in the markets today...
Do you feel the same for all cryptocurrencys or just bitcoin as its the sphere head
I think its a general trend in the market. Most striking is Bitcoin as there is no real reason for this increase besides a hype.
First mover advantage is Bitcoin only remaining asset. All other coins are basically technically more advanced
bitcoin has no use case really. Slow transactions , no stable price so hence not useful for financial institutes to utilise. Feels like the tulps story in netherland
Could you elaborate on this tulps story? I tried googling but I couldn't find anything :/
here you can find some interesting info : https://en.wikipedia.org/wiki/Tulip_mania
Especially the price evolution is nice :)
Yes indeed true. But its the first crypto so probably could be some form of digital gold in a crypto world.
But this current price evolution and comments feel totally off to me...
The US Dollar is a ponzi scheme with unlimited supply. Bitcoin has limited supply.
I agree on the inflation part for fiat currency. There is indeed unclarity about supply. Not sure how fiats can be named Ponzi ?
For a Ponzi you need more and more people to support the layers above. How is this