Bitcoin is quite difficult to understand for a non tech-savvy person. But the ones that understand it, know its pure genius, because it will trigger a revolution that will set us a free from the bankers and financial elites.
And most of the people understanding it is buying BTC to never look back.
Plenty of room to grow
Topic: Peer to peer digital Ponzi. (Read 2906 times)
Bitcoin: The Ponzi with an Endgame ™
An open source ponzi. 
Well if it is a joke it certainly is a profitable joke! http://dustcoin.com/mining
You hit the nail on the head.
what did you buy whit bitcoin in 2010 ?
how was bitcoin mined in 2010 ?
how was bitcoin mined in 2010 ?
What's your point? I still think Litecoin is a joke.
It offers little to no improvement over the current protocol.
Just a bunch of GPU miners sad they finally got axed from Bitcoin.
Well if it is a joke it certainly is a profitable joke! http://dustcoin.com/mining
Following this logic, gold is also a ponzi scheme
Normally when people can acquire the gold/coin through mining, they will go that way instead of buying, but there is only 3600 coin per day, that is a deadly design
Normally when people can acquire the gold/coin through mining, they will go that way instead of buying, but there is only 3600 coin per day, that is a deadly design
The Internet was a pretty geeky past-time which only had value for a few small groups, until over the course of a decade it commercialized and become absolutely essential for everything. Bitcoin has this potential, which drives the value. There is definitely risk here, but as the risk decreases the price goes up.
"The United States has released the patent under a royalty-free license."
Are you tin foiling? Make me one while you're at it.
that does not mean the US dont hold the patent only that the patent if for free, there was a long discussion about this topic free license is not public domain Are you tin foiling? Make me one while you're at it.
myself, BTW, your panic button is broken, wanted to tell you this for some time now. I click it and we're still at $141.
As for litecoin minable with gpus, thats only because it is a joke. If it ever gets serious, same thing would happen. But it never will, so I guess it'll be using GPUs forever
As for litecoin minable with gpus, thats only because it is a joke. If it ever gets serious, same thing would happen. But it never will, so I guess it'll be using GPUs forever
Jeebus, without merchants why would anyone choose litecoin over bitcoin? About the only claimed advantage of litecoin over bitcoin, is that the confirmations take less time, where can it find some uses without merchants accepting it?
And no, next time when bitcoin goes up 800% in one day I will call it a bubble about to bust/pump and dump/whatever you like, like what litecoin is doing now.
And no, next time when bitcoin goes up 800% in one day I will call it a bubble about to bust/pump and dump/whatever you like, like what litecoin is doing now.
oh yeah, we will see single digits soon 
single digits for mBTC
Not quite
But I won't tell you because explaining it would be giving away an advantage.
But I won't tell you because explaining it would be giving away an advantage.
You talking about hedging with it?
It offers little to no improvement over the current protocol.
litecoin dont use SHA256 and that's patented by US government "The United States has released the patent under a royalty-free license."
Are you tin foiling? Make me one while you're at it.
It offers little to no improvement over the current protocol.
litecoin dont use SHA256 and that's patented by US government 
what did you buy whit bitcoin in 2010 ?
how was bitcoin mined in 2010 ?
how was bitcoin mined in 2010 ?
What's your point? I still think Litecoin is a joke.
It offers little to no improvement over the current protocol.
Just a bunch of GPU miners sad they finally got axed from Bitcoin.
Plus some reasonably wealthy people pumping value in the system.
True.
I'd argue a lot of that is Bitcoin though.
Once you're in crypto it's easier to go into another crypto than it is to go back into fiat.
Not quite
But I won't tell you because explaining it would be giving away an advantage I'd rather keep.
what did you buy whit bitcoin in 2010 ?
how was bitcoin mined in 2010 ?
how was bitcoin mined in 2010 ?
What's your point? I still think Litecoin is a joke.
It offers little to no improvement over the current protocol.
Just a bunch of GPU miners sad they finally got axed from Bitcoin.
Plus some reasonably wealthy people pumping value in the system.
True.
I'd argue a lot of that is Bitcoin though.
Once you're in crypto it's easier to go into another crypto than it is to go back into fiat.
Here's another Ponzi scheme for you: Mozart! I mean, after all, what value can waves through the air possibly have?
The network has become sentient and figured out how to get people to give it government backed money.
This bit is awesome!
Y'know Vladimir - we (the world, that is) don't have any experience with any currency/commodity/whatever like bitcoin. We all know that.
But we also have no experience with a network of the size and power that bitcoin has created.
What if....?
I wonder if it's possible to insert snippets of code into the blockchain that might hasten some singular process...
what did you buy whit bitcoin in 2010 ?
how was bitcoin mined in 2010 ?
how was bitcoin mined in 2010 ?
What's your point? I still think Litecoin is a joke.
It offers little to no improvement over the current protocol.
Just a bunch of GPU miners sad they finally got axed from Bitcoin.
Plus some reasonably wealthy people pumping value in the system.
what did you buy whit bitcoin in 2010 ?
how was bitcoin mined in 2010 ?
how was bitcoin mined in 2010 ?
What's your point? I still think Litecoin is a joke.
It offers little to no improvement over the current protocol.
Just a bunch of GPU miners sad they finally got axed from Bitcoin.
Not I.
Troller coaster, put your hands up when we hit this hill.
Troller coaster, put your hands up when we hit this hill.
I sure do.
weee!
so the same technology is serious business on btc but on ltc is a fucking joke
Troll post or you're ignorant. Pick one.
I can't buy anything with Litecoin besides some cookies.
I still think ASICs > GPU.
how was bitcoin mined in 2010 ?
Not I.
Troller coaster, put your hands up when we hit this hill.
Troller coaster, put your hands up when we hit this hill.
so the same technology is serious business on btc but on ltc is a fucking joke
Troll post or you're ignorant. Pick one.
I can't buy anything with Litecoin besides some cookies.
I still think ASICs > GPU.
Now who's mad?
so the same technology is serious business on btc but on ltc is a fucking joke
Troll post or you're ignorant. Pick one.
I can't buy anything with Litecoin besides some cookies.
I still think ASICs > GPU.
I fully disagree.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
versus
First ya pump, then ya dump.
Dude, come on. That comment is on Litecoin, which is a fucking joke.
so the same technology is serious business on btc but on ltc is a fucking joke
I fully disagree.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
versus
First ya pump, then ya dump.
Dude, come on. That comment is on Litecoin, which is a fucking joke.
I fully disagree.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
versus
First ya pump, then ya dump.
oh yeah, we will see single digits soon
I fully disagree.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
It doesn't take some financial wizard to look at the fundamentals and recognize that everything is on the positive.
I still think these prices are fine.
Bitcoin doesn't work the way you want it to. It was designed to deflate and deflate hard.
People want their money in something that deflates like this. There is no such thing as a "savings account" in the bank world anymore.
I agree. This is pure speculation and the risk is a huge correction.
I am now of the opinion that bitcoins are a Ponzi. As in most of the gains are coming from new investors and not from any economic activity.
Quote
As in most of the gains are coming from new investors and not from any economic activity.
Quote
new investors
Quote
investors
OP are you sure that's the correct term ?
I am now of the opinion that bitcoins are a Ponzi. As in most of the gains are coming from new investors and not from any economic activity.
It is hard for me to conceive of enough drugs, gambling and Alpaca socks to justify all this value. Then again if I really think about it is hard for me to believe that there are seven billion people in the world.
It is hard for me to conceive of enough drugs, gambling and Alpaca socks to justify all this value. Then again if I really think about it is hard for me to believe that there are seven billion people in the world.
Common mistake is to assess market price based only on current value without taking into account estimations of future value. You shouldn't make investment decisions considering only the bubble that is the present.
The reason is that people have been screwed again and again by the fiat-based economy run by the government yet cannot do anything, because it was the only option. Now with Bitcoin they have a bargaining chip, with which they don't need to do away with the government, but can somehow threaten the governments to get more diligent with their work whenever they can't get off their ass to solve their problem. And people will certainly make sure to invest enough to keep their bargaining afloat.
Bitcoin is just like an opposition party of money, it may never get elected, but it must exist.
Bitcoin is just like an opposition party of money, it may never get elected, but it must exist.
The one problem with that is all taxes have to be paid in the local government currency. If you make a capital gain in bitcoins most governments expect you to pay capital gains profits in the local currency. Now, with bitcoin it's quite easy to conceal your profits and as long as you don't get MtGox to send you money then all is good. Otherwise, be careful that your government doesn't select you to make an example out of you.
Bitcoin doesn't need to do what fiats have been doing, it just needs to prove it has the potential to do so.
The reason is that people have been screwed again and again by the fiat-based economy run by the government yet cannot do anything, because it was the only option. Now with Bitcoin they have a bargaining chip, with which they don't need to do away with the government, but can somehow threaten the governments to get more diligent with their work whenever they can't get off their ass to solve their problem. And people will certainly make sure to invest enough to keep their bargaining afloat.
Bitcoin is just like an opposition party of money, it may never get elected, but it must exist.
The reason is that people have been screwed again and again by the fiat-based economy run by the government yet cannot do anything, because it was the only option. Now with Bitcoin they have a bargaining chip, with which they don't need to do away with the government, but can somehow threaten the governments to get more diligent with their work whenever they can't get off their ass to solve their problem. And people will certainly make sure to invest enough to keep their bargaining afloat.
Bitcoin is just like an opposition party of money, it may never get elected, but it must exist.
Anyone who promises bitcoin cannot lose value is a fool.
everything will loose its value sooner or later. Your bet is what will be first fiat money or bitcoin.
i dont know if you noticed but everything on earth (including earth) that holds any promise of not loosing value becomes ponzi schemes fast. My favorites are useless painting of famous artists that sells for billions $$$. I think we cant be worse and lets make biggest bubble know to human that will eat all other bubbles.
and thus the BAGEL INDEX was born!!
this is too much fun. hopefully nobody gets hurt.
this is too much fun. hopefully nobody gets hurt.
OK so the bagel index (BGI) is now 13%. Bitcoins and litecoins are growing at a rate of 13% per bagel consumed.
Simple - once the network has all fiat money and wealth of every human depends on it's existence, it can command us to do tasks needed to extend and strengthen it's operations.
Oh wait, it already does that... Yes master, must mine more coin...
Oh wait, it already does that... Yes master, must mine more coin...
Two months ago all my digital coins together were worth less than the amount of money I just made while eating a bagel.
I am now of the opinion that bitcoins are a Ponzi. As in most of the gains are coming from new investors and not from any economic activity.
It is hard for me to conceive of enough drugs, gambling and Alpaca socks to justify all this value. Then again if I really think about it is hard for me to believe that there are seven billion people in the world.
The network has become sentient and figured out how to get people to give it government backed money.
Like all Ponzi's I wonder: What is the network going to do with all that money?
I am now of the opinion that bitcoins are a Ponzi. As in most of the gains are coming from new investors and not from any economic activity.
It is hard for me to conceive of enough drugs, gambling and Alpaca socks to justify all this value. Then again if I really think about it is hard for me to believe that there are seven billion people in the world.
The network has become sentient and figured out how to get people to give it government backed money.
Like all Ponzi's I wonder: What is the network going to do with all that money?
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