Is bitcoin a climate killing Ponzi scheme?

[Lemsta69]

On 5/31/2022 at 1:47 AM, Jingthing said:

Thanks but I'm very much set as a crypto skeptic. 

I know, that's why I suggested it. true colours and all that.

[Lemsta69]

2 hours ago, LarrySR said:

I sent $10,000 to a crypto miner in Cyprus and I haven't received my $2,000,000 yet..and its been a FULL WEEK!

 

0/10

[Hummin]

If Fiat money is a ponzi scheme, what is Crypto then? Hm, tough nut

[KannikaP]

On 5/3/2021 at 5:23 PM, Surelynot said:

Probably end badly....but it is all the timing......I have a target price in mind to sell and then I am out........if it doesn't all go pear shaped beforehand.

The shape of the pear seems to be changing regularly.  555

[Jingthing]

Well well well.

 

When Bill Gates is right he's right.

 

https://edition.cnn.com/2022/06/15/tech/bill-gates-crypto-nfts-comments/index.html

 

 

Bill Gates says crypto and NFTs are a sham

 

 

New York (CNN Business)Don't count Bill Gates among the fans of cryptocurrencies and NFTs.

Those digital asset trends are "100% based on greater fool theory," the Microsoft co-founder said Tuesday at a TechCrunch conference, referencing the notion that investors can make money on worthless or overvalued assets as long as people are willing to bid them higher.

[Sparktrader]

5 minutes ago, Jingthing said:

Well well well.

 

When Bill Gates is right he's right.

 

https://edition.cnn.com/2022/06/15/tech/bill-gates-crypto-nfts-comments/index.html

 

 

Bill Gates says crypto and NFTs are a sham

 

 

New York (CNN Business)Don't count Bill Gates among the fans of cryptocurrencies and NFTs.

Those digital asset trends are "100% based on greater fool theory," the Microsoft co-founder said Tuesday at a TechCrunch conference, referencing the notion that investors can make money on worthless or overvalued assets as long as people are willing to bid them higher.

He was mates with Epstein

[Hummin]

7 minutes ago, Sparktrader said:

He was mates with Epstein

Ai, that was a score, and of course BTC is credible because of that, his connection with epstein, who met and had connections with thousands of people around the world. 

[Jingthing]

10 minutes ago, Sparktrader said:

He was mates with Epstein

I hear he likes strawberries.

[Sparktrader]

1 minute ago, Hummin said:

Ai, that was a score, and of course BTC is credible because of that, his connection with epstein, who met and had connections with thousands of people around the world. 

Who cares what Gates thinks????

 

Is he the expert who is right 100% of the time?

[Sparktrader]

1 minute ago, Jingthing said:

I hear he likes strawberries.

I like turkish delight

[Hummin]

1 hour ago, Sparktrader said:

Who cares what Gates thinks????

 

Is he the expert who is right 100% of the time?

Good point, he is a billionaire and really do not need to base his future on lottery, pyramids schemes bubbles or other frauds to continue to be a billionaire, or warren or any other billionaires. Better to promote when finely an unpredictable billionaire hype up BTC, and also predicted bankrupt any time now. An billionaire who is quite impulsive and follow the wind and manage to loose huge on top, before it goes downhill. With that said, not only BTC in mind. But some believe BTC will skyrocket again, or? 

[Sparktrader]

13 minutes ago, Hummin said:

Good point, he is a billionaire and really do not need to base his future on lottery, pyramids schemes bubbles or other frauds to continue to be a billionaire, or warren or any other billionaires. Better to promote when finely an unpredictable billionaire hype up BTC, and also predicted bankrupt any time now. An billionaire who is quite impulsive and follow the wind and manage to loose huge on top, before it goes downhill. With that said, not only BTC in mind. But some believe BTC will skyrocket again, or? 

I have no idea but billionaires know 1 or 2 things well.

 

Buffet didnt buy Amazon or Microsoft cheap. Loses money 40% of years.

 

Musk loves coins. He is richer than both those guys.

 

 

 

 

[Sparktrader]

Dow futures down 500

[Sparktrader]

Why do people quote billionaires?

Like copying Tiger Woods swing and expecting to improve your game by 10 shots lol

 

There would be 100 billionaires that did things Buffet wouldnt like. If they listened to him would still be poor.

 

 

[Hummin]

12 minutes ago, Sparktrader said:

 

 

Buffet didnt buy Amazon or Microsoft cheap. Loses money 40% of years.

 

Musk loves coins. He is richer than both those guys.

 

 

 

 

Wrong, he made himself a billionaire investing what he thought was best for him. I'm quite sure he have invested at some time when they started to make money. 

 

I only risk what I want to risk and can risk based on my fortune, not what others think I should do. 

 

I never invested in a pyramid, and I will never do it in my lifetime. 

 

Never did any currency trading either.

[Jingthing]

Gates didn't predict up or down but his description is undeniably accurate.

 

Those digital asset trends are "100% based on greater fool theory,"

[Sparktrader]

16 minutes ago, Hummin said:

Wrong, he made himself a billionaire investing what he thought was best for him. I'm quite sure he have invested at some time when they started to make money. 

 

I only risk what I want to risk and can risk based on my fortune, not what others think I should do. 

 

I never invested in a pyramid, and I will never do it in my lifetime. 

 

Never did any currency trading either.

Buffet didnt get rich on his own money. He ran a company.

 

He bought Amazon in 2019. About 20 years after they started lol

 

Fiat is a pyramid. You already invest in that. 

 

 

[Sparktrader]

20 minutes ago, Hummin said:

only risk what I want to risk and can risk based on my fortune, not what others think I should do. 

Why quote Buffet then?

 

 

[Hummin]

12 minutes ago, Sparktrader said:

Buffet didnt get rich on his own money. He ran a company.

 

He bought Amazon in 2019. About 20 years after they started lol

 

Fiat is a pyramid. You already invest in that. 

 

 

I have heard to many times we the the BTC haters, (I like to call myself sceptic, and also like to look at it ethically), we do not understand BTC and crypto coins, or block chains and a tendency to idiot explain me and alike. Thats not okay, and basically the same rhetoric I have heard about anything that have been to good to be true. Nobody idiot declared those who left out investing in Apple, Microsoft, Amazon before they managed to establish their money making machinery and became productive with futuristic aspects. That therms appeared and came with BTC. Crypto coins have a long way to prove themselves still. 
 

What I understand, fiat money are backed by governments, and todays Crypto coins, Is not backed by any governments. Thats the difference! 
 

And when we see a government backed crypto, its most likely not anyone ofvthose we see today. 
 

 

Edited June 16, 2022 by Hummin

[Sparktrader]

Just now, Hummin said:

I have heard to many times we the the BTC haters, (I like to call myself sceptic, and also like to look at it ethically), we do not understand BTC and crypto coins, or block chains and a tendency to idiot explain me and alike. Thats not okay, and basically the same rhetoric I have heard about anything that have been to good to be true. Nobody idiot declared those who left out investing in Apple, Microsoft, Amazon before they managed to establish their money making machinery and became productive with futuristic aspects. That therms appeared and came with BTC. Crypto coins have a long way to prove themselves still. 
 

What I understand, fiat money are backed by governments, and todays Crypto coins, Is not backed by any governments. Thats the difference! 
 

And when we see a government backed crypto, its most likely not anyone we see today. 
 

 

El Salvador uses btc.

[Excel]

1 minute ago, Sparktrader said:

El Salvador uses btc.

And how are they fairing ?

[Hummin]

1 minute ago, Sparktrader said:

El Salvador uses btc.

And the central african Republic became the second to accept, not backed BTC. No government cand backed BTC or any existing crypto currency. 

[Sparktrader]

Im.an idiot. I looked at amazon 20 yrs ago

 

 

[Sparktrader]

Just now, Hummin said:

And the central african Republic became the second to accept, not backed BTC. No government cand backed BTC or any existing crypto currency. 

Decentralised. Fiat has lost every year for 100 years. 100 year bear market.

 

 

[Hummin]

4 minutes ago, Sparktrader said:

Decentralised. Fiat has lost every year for 100 years. 100 year bear market.

 

 

Still, if my bank goes bankrupt, my goverment have secured every account I have in every bank with maximum 7 million baht. Thats my insurance if I have money in my bank by a backed currency. 
 

What is really lost of fiat money as long the goverment backing it, nobody backing crypto coins, do you understand the difference? Crypto coins have no safety net. No insurance

[Sparktrader]

5 minutes ago, Hummin said:

Still, if my bank goes bankrupt, my goverment have secured every account I have in every bank with maximum 7 million baht. Thats my insurance if I have money in my bank by a backed currency. 
 

What is really lost of fiat money as long the goverment backing it, nobody backing crypto coins, do you understand the difference? Crypto coins have no safety net. No insurance

I prefer bank shares. 1 higher yields 2 growth LT 3 backed by gov anyway.

 

Better to own the bank then make deposits.

 

Same theory with gold. Own the company not the resource. Yield plus growth.

 

 

[Baron Samedi]

I don't know if the technology is climate killing.

It has the potential to be. But at current scale? I doubt it.

I haven't seen a chart showing bitcoin next to agriculture, transportation or energy production when it comes to CO2 emissions.

Is it a Ponzi scheme ? For sure.

Not the only one out there though.

Real value of a bitcoin = zero.

[placeholder]

On 6/16/2022 at 7:27 PM, Sparktrader said:

Decentralised. Fiat has lost every year for 100 years. 100 year bear market.

 

 

You seem determined to judge currency as a kind of stock share. It's not. What's relevant is not how much value an individual dollar has lost but how many you have. As GDP figures show, over time the total value of how many dollars one has, tends to outweigh the decline in value of each dollar. Now, because of laws and court rulings favoring the wealthy, those gains disproportionately go to them and even lead to a decline in the standard of living of the middle class, working class, and the poor. But that's a different issue.

[GroveHillWanderer]

On 5/6/2021 at 1:37 AM, expatjustice said:

Then they would have managed to scam some of the biggest and brightest companies and individuals in the world ????

You mean like all those supposedly highly financially savvy financial institutions who lost billions (and some who even went under, like Bear Stearns and Lehman Brothers) in the sub-prime housing market collapse?

 

Ring a bell at all?

[Iamfalang]

life might be a ponzi scheme.  Everything you do might be a scam against you.  every....thing.

 

what's not a ponzi?  hard work, open mind, generosity, stacking bills (1000s), and reading everything.

 

I'm sold my 1000000 bitcoins at 68,000.....Do I really care if it's a ponzi??  not a bag holder.