Topic: Don't buy bitcoin because it won't be fine - page 19. (Read 4749 times)

It's quite funny to look at your posting history. So much posts with zero substance, all contra bitcoin.

May i ask why you waste your time by posting into this forum if you believe bitcoin is 'ponzi' and 'scam' ? Isn't your time more valuable than wasting it here ?
It's not like you are achieving something with it..

I don't know why you are posting so much bullshit (maybe bought at 20k ? Or lost all of your coins because you didn't manage to write down a seed ?), but letting your anger out here is just sad.
Especially because all of your posts don't even make sense.

If you are trying to attack bitcoin.. at least use arguments with substance.



Trustless and worldwide transfer of value without a middlemen.

I can name a number of them.

A way to transfer value between users cheap, fast, traceable and without a way to charge back, which IMO is great. Let's forget for a moment that at this stage most of us had to buy BTC at exchanges. This is still an early stage, a spot where companies like Apple and Microsoft were in the early 90s. When we reach a point where most people know about BTC and have an ability to receive a payment, it will create huge new opportunities.
You want to bid at an auction overseas and have no local currency, or it's Saturday, or it's a bank holiday, whatever,. You just call them and send BTC. They get it within 10 minutes.

You want to move money from one country to another but your local laws prohibit you from taking a lot of money with you. If you took cash it would get confiscated. If you take a credit card you will have to pay fees. So you take BTC, which has no fees and is impossible to detect. You can move it around in the memory of your smartwatch if you want to.

Your country is financially unstable and you want to store value somewhere. You could buy gold but it's heavy and difficult to carry. It's also undivisable and you can't pay with it. Choose BTC!

You want to gamble, but in your country it's illegal. Fine, but they're also not allowing you to gamble outside the country, which IMO goes against basic human rights. You can always gamble with BTC, which they aren't able to control.

If in your view BTC doesn't have its uses then payment systems like visa, paypal, WU, also don't. BTC gives you full control, which is priceless in today's world.

Name just one, please.

With regard to fiat, money is a huge confidence trick and the banks are the ones who play this trick. If I put $20,000.00 in the bank, it's not lying in the bank waiting for me to come and take it back. It's being paid in loans to the public and salaries to bank employees. The banks are just fooling us. So what you've just told me is that crypto currency which is simply a record, has no real value. Well, if everything is kept on the ledger and it's impossible to cheat, how come hackers can steal my crypto currency? Can't Blockchain technology come up with a solution to hackers? Just asking.

Hi, very good text about Ponzi scheme!

But I think Bitcoin does not fulfil those attributes.

Bitcoin has a use, more than one.

I disagree with your opinion.

The dollar or any other fiat currency is practically utilized every day when loan payment liability must be fulfilled and borrowers are forced to give goods and services to dollar owners.

That's your opinion but my opinion even I don't have enough money to buy bitcoin I will choose to believe that it will rise again. Did you know that recovery is real? In due time bitcoin and altcoins will recover again no matter what will happen in the market. It takes time before it will happen.

Each person will have his own idea and make it perfectly reasonable as well as investing in Bitcoin or should not invest in it. Analysis then opinions and reasons given to the market crypto. Bitcoin plays a major role does not seem to work. Bitcoin always goes against all the rules of the currencies that people are using. I believe in Bitcoin and i will invest it because i realize that is the engine. Assembly is larger than any other area.

Basically, bitcoin has a very good development and continues to provide good points for its holders, if it is able to manage bitcoin then the results obtained also do not disappoint, all this depends on those who buy and manage it.

now you are just showing your desperation in the market regarding the price, specially since you copy pasted the same bullshit in another topic with the title Don't buy Bitcoin because it won't be fine.
it is really sad how some people don't know how to make profit and have to succumb to these methods

I transfer money from my card to amazon in a one way transaction which is recorded on my statement. No physical cash is moved, all digital. Bitcoin is what we will be transferring in future

I perform a one-way transaction sending bitcoins to APMEX and they perform a one-way transaction sending gold to me. That sounds a lot like money.

The world is gradually shifting towards digital currency and a cashless society. In before the advent of bitcoin and the blockchain technology.
Calling bitcoin a ponzi scheme or a one way trip transaction is an ill advised statement.
Bitcoin has been recorded to be used to purchase a real estate property. It is accepted in some online and offline stores by merchants as a payment option. And it is even encouraged as some offer discounts in bitcoin payment. This for me is utility.

you can play with words all you like but that will never change any facts about bitcoin.
bitcoin matches the definition of a currency, a medium of exchange and a payment system perfectly well https://en.wikipedia.org/wiki/Currency and it has been designed to do that in a decentralized manner and has been doing exactly that in the past 10 years.

Umm...what? You do not just get a record, you actually get spendable coins, which is a utilizable resource on its own. Everything is a series of one-way transactions, even traditional cash payments (you give them money, they give you what you pay for), so why are transactions in Bitcoin any different?

The way you're trying to tie it up neatly to a bow as a ponzi is a reach, too. Ponzis lure investors, and use the new investors' money to pay out old investors. Bitcoin has no payouts whatsoever -- it utilizes the simple concept of supply and demand to gain value. It has nothing to do with handing out utilizable recources, for free or otherwise.

The dollar or any other fiat currency can not be practically utilized but are assigned a value by the banking sector of their country of origin. The dollar has no intrinsic value, no equal effort is put into making it, $5 cost as much as $100 bills.

Bitcoin is also a currency which is assigned a value, not by the banking sector but by the community as it is decentralized. And this value is designed to be higher than the cost of production.

The problem lies in the fact that you see BTC/USD pairs on exchanges, and it appears to be pegged to the US dollar.
With increased adoption it would gain more practical use and can be easily pegged to commodities or labour.
Of course there are limitations to such level of mass adoption, but that doesn't make it a ponzi scheme or a one way transaction protocol.

I agree with you. Money and assets are utilizable resources,while payment system is meant to transfer utilizable resources from one party to another. Bitcoin on the other hand is a mere record of the fact that investors handed out there utilizable resources in a Classical Ponzi scheme.

You've just indicated the reasons it's called invisible money. Of course it has no physical existence, nor has no common document. It's just your wallet and the number of your coins. That's why it's easily decentered and can be kept anonymous.

In a fraudulent investment scheme, like Ponzi, investors transfer their utilizable resources, be it money, goods or services, and then they end up to with something which has zero utilization capacity, like promise or non-binding record of investment. After the investment, the only possible way for them to get utilizable resources back is if new investors join the scheme and in that way bring such resources with them.

The opposite is true in a legitimate investment business, where investors transfer one type of utilizable resource and in return they receive another type of such resource. An utilizable resource is anything that can be practically utilized by humans. For e.g. a car can be practically utilized for driving, a dollar for loan payments, a stock for participation in company's profitability, food for providing nutritional support, a raw material for producing finished products etc. Hence, an utilizable resource is not something that is just passed from hand-to-hand on a market for investing or speculation purposes, but something which has final users who will consume, utilize or otherwise put the thing to practical use. And this practical use by final users is how things got to the market in the first place. For e.g. dollars got to the market because they have final users the same as food. In other words, loan contracts and collaterals force people to use dollars for loan payments the same as hunger forces people to use food. Since all dollars (either paper or digital) are loan based, they are not just passed from hand to hand, but also utilized by borrowers who are forced to give goods and services to dollar investors, speculators, or regular users, when loan payment liability must be fulfilled. In the same way hungry people are forced to give money goods or services to food producers.

In a fraudulent investment scheme there are no final users, which is why a thing that lures members into the scheme is just passed from hand-to-hand, from member-to-member... until it is realized that the only profit can come from utilizable resources invested into the scheme.

And this finally brings us to bitcoin and the following question. When investors transfer their utilizable resources like money, goods or services into bitcoin do they end up with another utilizable resource, i.e. a resource which can be utilized by some final user? Well, the obvious answer is: no, they do not. Instead, they end up only with a record in a table(blockchain) or in other words, only with a number associated with their bitcoin address. And this number cannot be practically utilized like food is utilized by hungry people or dollar by borrowers, but it can only be passed from address-to-address, from hand-to-hand,  from member-to-member. And this is exactly how classical fraudulent schemes operate - they use something to lure people into the scheme, but the thing itself is non-utilizable, which is why it is just passed from one person to another. Once people realize that profit or utilizable resources can come from new investors only, the whole scheme collapses. And this is the ultimate fate of bitcoin. So, do not buy it.