BITCOIN BTFO

youtube.com/watch?v=DnQ7aiBz6Ys

how can it ever recover

nocoiners, when will they learn

everytime btc dips they come out of the woodwork

video t. some fat fuck who knew he could've gotten in anytime in may, june, july, or even early august and made mad gains compared to whatever stock options he held in the same time period

Gordon miller is worth 100 million though

Moderately established old system people like this being butthurt/not understanding/implying "wait for bitcoin to go to zero" more than balance out the Finmans and Bilzerians of the world

He probably has a lot invested in it on the down low...Never trust this fucking rich white dudes. Giving educated advice to us stupid people. Why don't we just do what they did?!!! Surely we'll have the same results they did?!!! RIGHT??!!!!

Fucking morons. Strip them of every privilege they ever had and make them start from zero, in a place where they have no connections and let's see them become millionaires.

no one is dealt the same cards. you deal with what you have. thats life

literally a nocoiner fudding

True but seeing these types of guys making fun of people trying to make a life for themselves really burns me. If he doesn't believe crypto is a good investment just shut the fuck up and go about your life.

Yes, we should do what he says and leave crypto behind forever. Please, enlighten me Oh great rich white man.

>do not buy the bitcoin
>im working on my own coin which will be even better, thats the coin you want to buy

Investing should have no emotional bearing. You should give up now, because I promise you're going to fail with that attitude.

this has nothing to do with investing. It has to do with hating dudes like him.

He's the one relying on his emotions not investing in bitcoin. As for me, I started like everyone else, learned from my mistakes and I'm well above my initial investment.

Will I fail in the future? Probably. Will I learn from it? Definitely.

how does a man that hodls so much fat not understand how to hodl crypto?

He's a child

this guy is a fucking idiot, typical Boomer knowledge here.

The technology is what is important. Go back to 1993, and this guy would be saying the same thing about the internet.

>call a man with 100 million in the bank a poor no coiner

never change Veeky Forums


that being said this guy is just shilling his own own crypto lol. salty fucker

Scams lose you money. Bitcoin is a ponzi scheme, not a scam.

I like how you disliked it

>when you put money into BTC and panic sell after it drops 4%
>lose millions of dollars
>so upset that he decides to shill his own coin
>claims people's stuff went from "sky high to next to nothing over night" when it literally has shown to continue on an upward trend and they only people who lose money are the ones that panic sell

LMAOOOOOOOOO yeah this fat fuck definitely panic sold at a loss

Wikipedia defines a ponzi scheme in the following way:

"A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme."

Now let's see if that fits bitcoin:
-Does bitcoin have central authority? No.
-Does bitcoin pay returns to its investors? No.
-Does bitcoin require an ever increasing flow of money to sustain it? No.

Bitcoin is not a Ponzi scheme. It's a true innovation in computer science and solves a well known problem called the Byzantine Generals problem.

It's a new type of monetary system based on mathematics and rare numbers. That's why it's a game changer. That's why we see 5-10 million investments to bitcoin startups every week. It has nothing to do with a Ponzi scheme.

>Does bitcoin have central authority
Either chinks (miners) and (((blockstream))) jews

>Does bitcoin pay returns to its investors
Through unspoken promises of long term gains

>Does bitcoin require an ever increasing flow of money to sustain it
No money is generated from Bitcoin unlike stocks where companies earn revenue. It's a zero sum game. For someone to gain, someone must lose. Early adopters use this to accumulate wealth and dump on latecomers.

under rated post of the year on /biz

@3160004 WT*! just sold 100k ty op

Inb4 retards say "Yeah it's low now and then people buy in and sell it for more money later to more people!!! Total Ponzi!"


"Oh, you mean like a startup?"

Did half you morons even watch the whole video? This guy is just trying to shill for himself to become even richers.

>i'm in the process of making my OWN digit currency, so much better than bitcoin!

Get the fuck out of here

>-Does bitcoin have central authority? No.

Yes, the people who make the decisions on the direction in which to take Bitcoin (segwit, 8mb blocks etc.)

>-Does bitcoin pay returns to its investors? No.

Yes because people expect to see a positive return on their investment in Bitcoin.

>-Does bitcoin require an ever increasing flow of money to sustain it? No.

Yes, the more people use Bitcoin, the bigger the network grows, and the more money is needed to sustain it.

looks like he is in a used ford. Tha fuck?

Do you even understand what ponzi did or what?
I don't fucking get the insistence that "bitcoin is a ponzi".
You're implying that someone is taking new investors' money and using it to pay returns for old investors.
This is NOT THE SAME AT ALL as buying something and selling it later at a higher price.

The more I read Veeky Forums, the more I realize just how fucktarded 99% of you are.

Typical Boomer knowledge here.

The thing that scares old school traders is that crypto market is extremely volatile and they cannot handle that.
Stocks usually move very little and when there is a crash (brexit, brazilian scandal, lehman brothers) the market are forced to close, to prevent panic sellings.

Bitcoin follows the same pattern as the stages of grief:
DENIAL: "nothing is better than fiat and plastic money, this is ilegal and not regulated"
ANGER: "It's a bubble, it's a scam, it's a ponzi, drug dealers and hackers, it will crash"
BARGAINING : Ok the blockchain technology is a good idea...maybe we can use that
DEPRESSION: I regret not invested earlier, I should listen
ACCEPTANCE