Is bitcoin a climate killing Ponzi scheme?

[Iamfalang]

15 minutes ago, GroveHillWanderer said:

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?

Those managers got 100000000000000000000000000 USD in bonuses 

 

not one of them is broke.  100% super rich.

 

savvy enough, if you ask me.  

[Sparktrader]

Fiat ponzi

Govt ponzi

 

What makes you income without costs?

 

Shares that pay dividends is the only thing

Property costs money

Gold no income

Crypto no income

Fiat has low income but inflation eats all of it

 

 

[Sparktrader]

6 hours ago, placeholder said:

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.

Rich people buy land and shares. Land goes up. Shares go up.

 

 

[placeholder]

2 minutes ago, Sparktrader said:

Rich people buy land and shares. Land goes up. Shares go up.

 

 

 Land and shares are measured in dollars. As far as I know, the amount of dollars that land and shares are worth tends to outpace inflation. So what's your point?

[Hummin]

1 minute ago, Sparktrader said:

Rich people buy land and shares. Land goes up. Shares go up.

 

 

Rich people buy low, sell high, they can sit back and have better resources to wait. Middle class often have to borrow money, and when it's going downhill, interest up, and we all know how it goes.

[ozimoron]

USDT is slowly dropping. If that fails it will be crushing for crypto.

[Sparktrader]

2 minutes ago, Hummin said:

Rich people buy low, sell high, they can sit back and have better resources to wait. Middle class often have to borrow money, and when it's going downhill, interest up, and we all know how it goes.

Rich buy dips and dont sell.

 

 

[Sparktrader]

4 minutes ago, placeholder said:

 Land and shares are measured in dollars. As far as I know, the amount of dollars that land and shares are worth tends to outpace inflation. So what's your point?

Buy assets that outstrip inflation.

 

Land and shares do that the most.

 

Gold barely covers it.

 

Fiat loses.

[Hummin]

2 minutes ago, Sparktrader said:

Rich buy dips and dont sell.

 

 

Yes they do when the price and timing is right. We talking about land and shares now right?

 

Another thing, rich people often have better thefts to buy profitable land and stocks, because they can.

 

Most foreigners in Thailand invest in projects that they get stuck with and when first have any buyers, they sell with loss. 

 

Seen that to much during my time in Thailand. What I can afford, is not worth it, because it doesn't have the location or premisses to increase in any near future or decades. Looks promising, but in most cases it is only that. It looks promising.

 

 

[placeholder]

5 minutes ago, Sparktrader said:

Buy assets that outstrip inflation.

 

Land and shares do that the most.

 

Gold barely covers it.

 

Fiat loses.

This is utterly irrelevant to your argument about fiat currency. People who have money to invest, mostly don't hold it in fiat currency. For the rest, currency isn't an investment. It's a medium of exchange. And they can count themselves doing well if the amount of currency the have at their disposal gives them greater purchasing power than they had before.

[Sparktrader]

1 minute ago, placeholder said:

This is utterly irrelevant to your argument about fiat currency. People who have money to invest, mostly don't hold it in fiat currency. For the rest, currency isn't an investment. It's a medium of exchange. And they can count themselves doing well if the amount of currency the have at their disposal gives them greater purchasing power than they had before.

Correct. They wait and invest.

[placeholder]

1 hour ago, Sparktrader said:

Fiat has low income but inflation eats all of it

If inflation eats all of it that means that those who have large quantities of cash on hand, don't see opportunities for investment. During the recession, banks and other large insititutions were actually accepting negative interest rates because they had nowhere to go with their money. This surplus of cash reflects the way the rich and the powerful have gotten laws passed that result in them paying lower and lower taxes. This is why we have seen massive inflation in beach houses and art works. Things that are inherently scarce. It also explains the rise of cryptocurrencies. Too much cash chasing too few investments.

[Sparktrader]

Average Market Return for the Last 30 Years

Looking at the S&P 500 for the years 1991 to 2020, the average stock market return for the last 30 years is 10.72% (8.29% when adjusted for inflation).

 

https://www.sofi.com/learn/content/average-stock-market-return/#:~:text=Average Market Return for the Last 30 Years&text=Looking at the S%26P 500 for the years 1991 to,% when adjusted for inflation).

[GroveHillWanderer]

22 hours ago, Iamfalang said:

Those managers got 100000000000000000000000000 USD in bonuses 

 

not one of them is broke.  100% super rich.

 

savvy enough, if you ask me.  

Because they managed to send their companies intro bankruptcy and caused a worldwide financial crash that ruined people and institutions all over the world but still profited personally, that makes them models to be followed and emulated then?

 

Not in my book.

 

[GroveHillWanderer]

Bitcoin and Ethereum both down ~40% over the past week.

 

Bitcoin price falls below $20,000 for first time since 2020

[Neeranam]

On 6/19/2022 at 11:27 AM, GroveHillWanderer said:

Bitcoin and Ethereum both down ~40% over the past week.

 

Bitcoin price falls below $20,000 for first time since 2020

I hope you bought, 

[freeworld]

10 minutes ago, Neeranam said:

I hope you bought, 

With my luck if I had bought it would have gone down further.