Is bitcoin a climate killing Ponzi scheme?

[inThailand]

Bitcoin won't affect climate change, just the climate of those who invest in smoke and mirrors. 

[wombat]

i dunno about a climate killer, however it is a Ponzi scheme for the tech elite.
how do justify that?
show me a gold shop in Thailand that accepts crypto for gold.

[Skeptic7]

Billionaire investor Mark Cuban has said it was “my mistake” for not doing his homework on the Titan cryptocurrency which dropped from $60 to $0 in a day. ????

 

https://www.news.com.au/finance/markets/billionaire-mark-cuban-regrets-not-doing-the-maths-on-titan-cryptocurrency-after-crash/news-story/cc65d8a50d63fee913c57d0cfbb0bdf1

[fdsa]

1 hour ago, wombat said:

i dunno about a climate killer, however it is a Ponzi scheme for the tech elite.
how do justify that?
show me a gold shop in Thailand that accepts crypto for gold.

show me a gold shop in Thailand that accepts USA dollars.

=> USD is a Ponzi scheme for US bankers.

[allanos]

Lots of folk simply unthinkingly follow the "party line"!  Janet Yellen and Christine Lagarde talk about Bitcoin being used by scam artists, money-launderers, terrorist financers and the like. But they have gone a little quiet, recently, on this angle of their FUD, because the use of fiat currencies (USD, Euro) for these nefarious activities absolutely dwarfs crypto (Bitcoin). And it is far easier to trace large bitcoin transactions on the blockchain, if required, than any kind of trail using fiat. Look at the FBI's recent success in recovering funds from hackers. Without blockchain transparency, it would be almost impossible.

 

So, Yellen, Lagarde, and self-promoter Musk, have all tried to introduce another topic to disparage Bitcoin, that of high energy usage, and the destruction of planet earth through "global warming" (whatever that is).

The shine came off the phrase "global warming" when it was shown that the planet wasn't warming at all. So, to pivot on the narrative, the mantra became "climate change".  There is much debate on how much anthropological activity has contributed to climate change, if at all, but it doesn't stop a lot of stooges talking about it, to support and bolster their own agendas.

 

Musk, in particular, had to pivot regarding his large investment into Bitcoin, and allowing his cars to be bought with it, because Tesla is the recipient of government funds by way of carbon offsets, so he made the astute u-turn to decry the amount of energy going into Bitcoin mining. Btw, without the carbon credit offset, Tesla would show a heavy loss. It actually loses a tonne of money on making motor cars!

 

There is no outcry about the energy use of mining operations, including gold mining, nor the costs of maintaining fiat-based financial systems, which makes Bitcoin mining look puny by comparison.

 

Why is that, you may ask? Because it doesn't suit the elite agenda!

 

As an aside, because of the 4-year "halving" built into bitcoin mining software, Bitcoin is the exact inverse of what a Ponzi scheme is. Stop parroting what you hear, and do a little research. You may be pleasantly surprised!

[Skeptic7]

2 minutes ago, allanos said:

Lots of folk simply unthinkingly follow the "party line"!  Janet Yellen and Christine Lagarde talk about Bitcoin being used by scam artists, money-launderers, terrorist financers and the like. But they have gone a little quiet, recently, on this angle of their FUD, because the use of fiat currencies (USD, Euro) for these nefarious activities absolutely dwarfs crypto (Bitcoin). And it is far easier to trace large bitcoin transactions on the blockchain, if required, than any kind of trail using fiat. Look at the FBI's recent success in recovering funds from hackers. Without blockchain transparency, it would be almost impossible.

 

So, Yellen, Lagarde, and self-promoter Musk, have all tried to introduce another topic to disparage Bitcoin, that of high energy usage, and the destruction of planet earth through "global warming" (whatever that is).

The shine came off the phrase "global warming" when it was shown that the planet wasn't warming at all. So, to pivot on the narrative, the mantra became "climate change".  There is much debate on how much anthropological activity has contributed to climate change, if at all, but it doesn't stop a lot of stooges talking about it, to support and bolster their own agendas.

 

Musk, in particular, had to pivot regarding his large investment into Bitcoin, and allowing his cars to be bought with it, because Tesla is the recipient of government funds by way of carbon offsets, so he made the astute u-turn to decry the amount of energy going into Bitcoin mining. Btw, without the carbon credit offset, Tesla would show a heavy loss. It actually loses a tonne of money on making motor cars!

 

There is no outcry about the energy use of mining operations, including gold mining, nor the costs of maintaining fiat-based financial systems, which makes Bitcoin mining look puny by comparison.

 

Why is that, you may ask? Because it doesn't suit the elite agenda!

 

As an aside, because of the 4-year "halving" built into bitcoin mining software, Bitcoin is the exact inverse of what a Ponzi scheme is. Stop parroting what you hear, and do a little research. You may be pleasantly surprised!

Ponzi meet Scheme. ????

[jack71]

On 5/6/2021 at 12:15 PM, cmarshall said:

Although some will make money, Bitcoin will end in tears, of course, because it is an unproductive asset like tulips or baseball cards.  

not according to el salvador....

[1FinickyOne]

On 5/6/2021 at 4:27 AM, Jingthing said:

Brats?

not merely brats, wurst... 

[khunPer]

Strange that we haven't heard any comment from Greta about Bitcoins and "how dare you"...????

[Susco]

6 minutes ago, khunPer said:

Strange that we haven't heard any comment from Greta about Bitcoins and "how dare you"...????

 

Maybe because of this. How dare she

 

https://medium.com/@gte.io/tron-crypto-founder-justin-sun-contributes-1-mil-to-environmentalist-greta-thunberg-628ff4ad187e

 

Tron Crypto Founder Justin Sun Contributes $1 Mil to Environmentalist Greta Thunberg

 

[Dumbfounded]

I'm more interested to see what happens when the limit of Bitcoins have been mined. I have coins I bought in 2013 @ A$83 each and will wait and see what happens. Just my opinion but I think it will go higher as it gets closer to the limit.

[GrandPapillon]

6 hours ago, Skeptic7 said:

Billionaire investor Mark Cuban has said it was “my mistake” for not doing his homework on the Titan cryptocurrency which dropped from $60 to $0 in a day. ????

 

https://www.news.com.au/finance/markets/billionaire-mark-cuban-regrets-not-doing-the-maths-on-titan-cryptocurrency-after-crash/news-story/cc65d8a50d63fee913c57d0cfbb0bdf1

and yet that didn't stop him from bragging about it when he bought them ????

 

those millionaires can afford the loss, but the poor desperate souls following those "tycoons" thinking they are following the money? Mark Cuban should be criminally prosecuted for his role in that scam ????

[Sig]

On 5/6/2021 at 5:02 AM, bkk6060 said:

Doge is the way to go.

 

If you bought dogecoin at the beginning of the year you’ve enjoyed massive gains over the past four months. A $1,000 dogecoin purchase on Jan. 1, 2021 — at a price of 0.057 cent per coin — would be worth $121,052 at Wednesday’s high of 69 cents, a gain of more than 12,000%

I made an insane profit on Doge Coin. I bought it a couple of years ago. I didn't sell at the all time high, but I sold it at a high enough level to make a major difference in my finances. I don't particularly care for Doge coin, but if you see an opportunity, why on earth wouldn't you take it!? Because you think it's BS? hahahaha Well, idiot naysayers who even admit they don't understand blockchain tech and the various applications being developed around it are all being left behind to eat the dust of others who have enough intelligence to study something worthwhile that is changing the world. And if you can make money while supporting various developing technologies that are changing people's lives around the world, why on earth wouldn't you!? Because it's BS, like this insanely stupid "comedian", Bill Maher, said? The OP posted a video by that guy and he (Maher) let his ignorance and massive pride of being stupid, shine brightly for the world to see.

[Sig]

On 5/6/2021 at 12:15 PM, cmarshall said:

Although some will make money, Bitcoin will end in tears, of course, because it is an unproductive asset like tulips or baseball cards.  

Hahahaha "unproductive", Yeah, just like baseball cards and tulips ended in tears, right?
well... Topps baseball card company is laughing all the way to the bank and back with their "unproductive asset"! Personally, I don't find $1.3 BILLION something to flick off of my collar since it is so unproductive.
https://edition.cnn.com/2021/04/06/investing/topps-spac-stock-nft/index.html
And tulips, you may ask... America isn't in tulips as big as the Netherlands, but they still managed a $66,000,000 volume in 2018 and in the Netherlands, they managed to export 215,000,000 Euros (around $256,740,000 USD) worth of the "unproductive asset" of tulips. https://www.statista.com/statistics/581482/value-of-the-import-and-export-of-tulip-bulbs-in-the-netherlands/
I'd say that it seems like there are probably many people who are very happy with "unproductive assets". But I hope your assets are much more productive than such unproductive nonsense like that.
I'm guessing that your grasp of tulip and baseball card profitability is probably about as good as that of your grasp of technologies in and behind the crypto industry.

[Sig]

5 hours ago, allanos said:

Lots of folk simply unthinkingly follow the "party line"!  Janet Yellen and Christine Lagarde talk about Bitcoin being used by scam artists, money-launderers, terrorist financers and the like. But they have gone a little quiet, recently, on this angle of their FUD, because the use of fiat currencies (USD, Euro) for these nefarious activities absolutely dwarfs crypto (Bitcoin). And it is far easier to trace large bitcoin transactions on the blockchain, if required, than any kind of trail using fiat. Look at the FBI's recent success in recovering funds from hackers. Without blockchain transparency, it would be almost impossible.

 

So, Yellen, Lagarde, and self-promoter Musk, have all tried to introduce another topic to disparage Bitcoin, that of high energy usage, and the destruction of planet earth through "global warming" (whatever that is).

The shine came off the phrase "global warming" when it was shown that the planet wasn't warming at all. So, to pivot on the narrative, the mantra became "climate change".  There is much debate on how much anthropological activity has contributed to climate change, if at all, but it doesn't stop a lot of stooges talking about it, to support and bolster their own agendas.

 

Musk, in particular, had to pivot regarding his large investment into Bitcoin, and allowing his cars to be bought with it, because Tesla is the recipient of government funds by way of carbon offsets, so he made the astute u-turn to decry the amount of energy going into Bitcoin mining. Btw, without the carbon credit offset, Tesla would show a heavy loss. It actually loses a tonne of money on making motor cars!

 

There is no outcry about the energy use of mining operations, including gold mining, nor the costs of maintaining fiat-based financial systems, which makes Bitcoin mining look puny by comparison.

 

Why is that, you may ask? Because it doesn't suit the elite agenda!

 

As an aside, because of the 4-year "halving" built into bitcoin mining software, Bitcoin is the exact inverse of what a Ponzi scheme is. Stop parroting what you hear, and do a little research. You may be pleasantly surprised!

Yes! I find it amazing how people are pulled around as though there is a ring in their nose and those in positions of power just give it a little tug here and there to get their little pawns to go sacrifice themselves where they want them, all the while these tools are professing how superior they are and what fools the others are.

[Gulfsailor]

5 hours ago, allanos said:

Lots of folk simply unthinkingly follow the "party line"!  Janet Yellen and Christine Lagarde talk about Bitcoin being used by scam artists, money-launderers, terrorist financers and the like. But they have gone a little quiet, recently, on this angle of their FUD, because the use of fiat currencies (USD, Euro) for these nefarious activities absolutely dwarfs crypto (Bitcoin). And it is far easier to trace large bitcoin transactions on the blockchain, if required, than any kind of trail using fiat. Look at the FBI's recent success in recovering funds from hackers. Without blockchain transparency, it would be almost impossible.

 

So, Yellen, Lagarde, and self-promoter Musk, have all tried to introduce another topic to disparage Bitcoin, that of high energy usage, and the destruction of planet earth through "global warming" (whatever that is).

The shine came off the phrase "global warming" when it was shown that the planet wasn't warming at all. So, to pivot on the narrative, the mantra became "climate change".  There is much debate on how much anthropological activity has contributed to climate change, if at all, but it doesn't stop a lot of stooges talking about it, to support and bolster their own agendas.

 

Musk, in particular, had to pivot regarding his large investment into Bitcoin, and allowing his cars to be bought with it, because Tesla is the recipient of government funds by way of carbon offsets, so he made the astute u-turn to decry the amount of energy going into Bitcoin mining. Btw, without the carbon credit offset, Tesla would show a heavy loss. It actually loses a tonne of money on making motor cars!

 

There is no outcry about the energy use of mining operations, including gold mining, nor the costs of maintaining fiat-based financial systems, which makes Bitcoin mining look puny by comparison.

 

Why is that, you may ask? Because it doesn't suit the elite agenda!

 

As an aside, because of the 4-year "halving" built into bitcoin mining software, Bitcoin is the exact inverse of what a Ponzi scheme is. Stop parroting what you hear, and do a little research. You may be pleasantly surprised!

Gold mining creates an annual retail value of around 1.7 trillion USD per year based on today’s prices, yet it consumes around 60% more than the energy it costs to mine the approximate 350,000 bitcoins this year, trading at 12 billion USD at today’s prices. And gold is not just used as a speculative product but also in industrial and electrical applications.

as for the banking sector; it’s estimated the worlds energy consumption is less than double that of Bitcoin, yet it takes care of USD 1.25 quadrillion in transactions annually. Bitcoin transactions are estimated to be around USD 4 trillion USD per year.

It cannot last, and it won’t once the average investor realizes he’s basically sending his hard earned cash to a Chinese miner. 

Edited June 25, 2021 by Gulfsailor
Recalculated something.

[WingFat]

I recently read it is possible to mine a bitcoin using your smartphone...only takes about 26 years to run all the computations. Get busy folks, you're mostly locked down anyway.

[WingFat]

Yeah riigghhht...Bitcoin is the future ??? The future of what ??? One day it's worth $65,000 then a few weeks later it's worth $30,000, then bounces up to $38,000, now today it's down to $32,000.

 

The key to any successful currency is stability. Bitcoin is a bipolar disaster. 

 

Hey, I think I'll start my own crypto currency: Bipolar Coin...There are plenty of saps who are 99 watts short of being a 100 watt lightbulb who will buy it.

[Stargeezr]

Bit coin, is what? A piece of nothingness floating on the air, existing inside a computer?

  If you cannot remember your password to that piece of nothingness, you can lose it all.

Well at least with real money or a piece of gold, I actually have something that does exist

and I do not need to remember some complicated password, or know that a lot of energy has 

been spent on the Mining of this piece of nothing.

  Geezer

[brenton]

I am a 2014 OG. I thought S.N was rude when he wrote,if you dont get it or understand it,sorry i don't have time to explain it. I know how he feels

[mrwebb8825]

I'm just going to put this out here and hope some of you "in the know" can offer some constructive advice.

My friend talked me into opening a Binance account about 2 months ago. To do this, I needed to "purchase" USDT which could then be used to purchase different cryptos.

My original investment was $500 but is currently only worth about 20% of that. Please have a look and advise what you would do: (serious advice only please-naysayers can stick to the thread)

ETH  0.03528468  0.00203296

≈ $65.35

DOGE  193.61300000  0.00149663

≈ $48.11

EOS  13.15683000  0.00147751

≈ $47.49

SHIB  3,616,297.08000000  0.00080282

≈ $25.81

BTT  8,291.05397707  0.00061276

≈ $19.70

DOGE and SHIB were my friend's suggestions, the others were my own attempts based on some reading. I've never been part of the investment world so I don't understand all the terminology and acronyms.

I also didn't write down anywhere what I bought at (error on my part)

I read all 3 pages of this thread so far and although I didn't understand some of the "tech talk" I was heartened slightly by the mention of DOGE and looked up SLP. 

I haven't disciplined myself enough yet to logon and watch 2-3x a day so will work on that. ????

Thank you in advance for any "plain speak" advice/constructive criticisms.

[fdsa]

@mrwebb8825 be careful with that friend, you might get infected with his virus of dumbness.

 

OK, serious advice: hold ETH and EOS, and stick the other three in your friend's "where sun doesn't shine".

[Heng]

21 hours ago, wombat said:

i dunno about a climate killer, however it is a Ponzi scheme for the tech elite.
how do justify that?
show me a gold shop in Thailand that accepts crypto for gold.

 

That's like saying... show me where you can get the Pfizer vaccine in Thailand or I don't believe it exists.  

 

A simple google search would suffice.   Personally recommend JM Bullion in Dallas or Bullionstar in Singapore.   You can purchase as a walk in but it's better to pay and pick up a few hours later unless you want to sit around waiting for the confirmations to clear in the store.

[Dave0206]

On 5/6/2021 at 5:02 AM, bkk6060 said:

Doge is the way to go.

 

If you bought dogecoin at the beginning of the year you’ve enjoyed massive gains over the past four months. A $1,000 dogecoin purchase on Jan. 1, 2021 — at a price of 0.057 cent per coin — would be worth $121,052 at Wednesday’s high of 69 cents, a gain of more than 12,000%

Quite rightly so or buy it at .69 and your $1000 today is worth less than a third crypto is a big gamble I've got some but it's not a real investment when you go to bed with enough crypto to buy a house and can wake in morning not knowing if its enough to buy the whole street or just enough to buy breakfast even the joke currency like Nigeria does not swing so fast

[Sig]

On 6/26/2021 at 3:44 AM, mrwebb8825 said:

I'm just going to put this out here and hope some of you "in the know" can offer some constructive advice.

My friend talked me into opening a Binance account about 2 months ago. To do this, I needed to "purchase" USDT which could then be used to purchase different cryptos.

My original investment was $500 but is currently only worth about 20% of that. Please have a look and advise what you would do: (serious advice only please-naysayers can stick to the thread)

ETH  0.03528468  0.00203296

≈ $65.35

DOGE  193.61300000  0.00149663

≈ $48.11

EOS  13.15683000  0.00147751

≈ $47.49

SHIB  3,616,297.08000000  0.00080282

≈ $25.81

BTT  8,291.05397707  0.00061276

≈ $19.70

DOGE and SHIB were my friend's suggestions, the others were my own attempts based on some reading. I've never been part of the investment world so I don't understand all the terminology and acronyms.

I also didn't write down anywhere what I bought at (error on my part)

I read all 3 pages of this thread so far and although I didn't understand some of the "tech talk" I was heartened slightly by the mention of DOGE and looked up SLP. 

I haven't disciplined myself enough yet to logon and watch 2-3x a day so will work on that. ????

Thank you in advance for any "plain speak" advice/constructive criticisms.

With such small amounts, it's hardly worth selling. I'd just sit on it. Some may go to never-never land, but I think you can be pretty sure that others (and maybe all) will recover eventually and make some gains. Just as with any investment, don't put in any more than you can afford to lose. Personally, I never put in more than would make me feel terrible or depressed, even if I could afford the loss. I personally wouldn't look to the vast majority of alt coins as a long term investment. It could turn out great in the long run, but smaller alt coins can be very risky unless you know what you're doing and are actually trading and not just holding longer term. As they say - High risk, High reward (or devastating loss). It's a very volatile market, so you should expect the kind of swings you saw. It sounds like you entered at a high point of the market and you and your friend knew nothing of technical analysis that would have shown you not to buy in at that particular time. It's a very common mistake and that's why so many people lose... because they don't know what they are doing and enter a volatile market at all the wrong times. Good technical analysts knew the high was hit back around 63k on bitcoin and they shorted it all the way down to around 32k and made a fortune. That low point was the place to buy... of course there is still a chance it can go lower, but if you're in it long term, personally I don't think you need to worry much. But it sounds like you really did buy in at a high point, so it may take a while to recover, but then again, who knows... it could recover dramatically quickly. At the moment, I don't think it is so clear, but I believe it will become clear pretty soon (soon... a week to a few months?). And that's why you set stop losses and learn how to analyze the charts. Even though there's all of this nonsensical talk by people who know virtually nothing of what they are talking about and go on and on about how terribly it has dropped, etc., etc., the past month has been an awesome time making money for swing traders!

 

[lavezzi]

On 5/5/2021 at 5:53 PM, fdsa said:

  

google:// pos vs pow

 

I hope you'll stay in Bitcoin when majority of users will move to a better alternative.

what do you mean as better alternative?

You mean users will move to more secure and more decentralized crypto than bitcoin or do you mean users will move to other crypto more usefull as store of value?

[fdsa]

8 hours ago, lavezzi said:

what do you mean as better alternative?

You mean users will move to more secure and more decentralized crypto than bitcoin or do you mean users will move to other crypto more usefull as store of value?

I meant "more useful for everyday usage", more decentralized too but in the first place - less power consuming.

Bitcoin still could be considered as a store of value in the short term but I am not sure that it will be same in the next few years given all of its disadvantages and advantages of its forks and other projects.

Edited June 29, 2021 by fdsa

[fdsa]

8 hours ago, Sig said:

Just as with any investment, don't put in any more than you can afford to lose.

and don't put anything in the meme tokens at all.

[ozimoron]

On 6/26/2021 at 6:14 AM, mrwebb8825 said:

My original investment was $500 but is currently only worth about 20% of that. Please have a look and advise what you would do: (serious advice only please-naysayers can stick to the thread)

ETH  0.03528468  0.00203296

≈ $65.35

DOGE  193.61300000  0.00149663

≈ $48.11

EOS  13.15683000  0.00147751

≈ $47.49

SHIB  3,616,297.08000000  0.00080282

≈ $25.81

BTT  8,291.05397707  0.00061276

≈ $19.70

 

Do nothing. Check back in a year and you won't need to ask again. Don't sell any of these.

 

The first bitcoin transaction was 2 pizzas for 2 bitcoins. Right now they would be worth $70,000. A couple of years ago far more than that. A couple more years, way more again.

 

Edited June 29, 2021 by ozimoron

[Sparktrader]

Climate change movement is mostly a scam. That's obvious if you research it. 50 years of fluff.

 

Crypto coins are just a hedge against inflation ie like gold but easier to transfer.