When this ponzi is going to crash, Veeky Forums ?

When this ponzi is going to crash, Veeky Forums ?

When we see $3k btc and $190 eth again ?

By the end of this week.

What day .. and why ?

last chance to buy btc under $4k ever again

Wasn't a china banning exchanges? Lol

Not a ponzi, you uneducated turd.

/thread

how you say that

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? No.

It's heading towards that direction. Do you have a say in Bitcoin's future? No.

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

Yes. Why would investors be investing then?

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

Yes, because there are always people mining Bitcoin, selling Bitcoin, and running the Bitcoin network. All that requires a constant supply of money going into Bitcoin. If no one wants to buy Bitcoin, it's price would become zero.

>If no one wants to buy Bitcoin, it's price would become zero.

The horse has bolted on that one, it is an established currency.

If the price dropped to $500 tommorow, how many on Veeky Forums alone would buy as much as they could?

Not until one more artificial tether backed gigga pump to 5k

id buy 5 - 10 more coins without a doubt

actually, 10 -20

>>-Does bitcoin have central authority? No.
>It's heading towards that direction. Do you have a say in Bitcoin's future? No.
I actually think that mining cartels can be considered as some kind of "authority" for bitcoin. The only reason for 4k pump was to make BTC mining more profitable than BCC IMO. It definitely wasn't the holy spirit doing that pump..

What you actually need to be worried about are the potential forks because of egotists (bittalk admins), regulation from Europe, and the banks like JP Morgan who are studying crypto and were helping last weeks crash. Also need to be wary of another coin just coming up and taking over. Not likely for the last but it's always plausible.

>-Does bitcoin pay returns to its investors? No.
>Yes. Why would investors be investing then?
It doesn't pay dividends idiot. Investors buy it because they believe it'll appreciate in value.

>-Does bitcoin require an ever increasing flow of money to sustain it? No.
>Yes, because there are always people mining Bitcoin, selling Bitcoin, and running the Bitcoin network. All that requires a constant supply of money going into Bitcoin. If no one wants to buy Bitcoin, it's price would become zero.
I, and many others, see immense value in a decentralized, immutable record of who-owns-what and prefer to keep wealth there instead of undercapitalized bank accounts that could be frozen with a court order in my sleep. Who knows; maybe when enough people start keeping their wealth in Bitcoin and the governments can't tax rape our incomes willy nilly, they will actually have to listen to their citizens and provide services they need.

>governments listening to their citizens
HAH.

>tether market cap increased 160 million dollars june 25 to july 25
>another increase of 120 million dollars since end of august
Yeah nothing wrong here guys, totally not a ponzi scheme propped up by counterfeit money at all.

There are literally no real world use cases on any major coins.

The only reason people invest is for monetary gain. Unless there is anything useful then you're relying on greater fool theory, hoping that there are people more stupid then you to sell your bags to.

It's completely unsustainable, it will probably carry on like this till 2020 by which point all it takes is one trigger event for the whole house of cards to fall.

I look forward to that day.

Considering we're all trading values of gift cards for shops that haven't opened yet.

Then yes, there is the potential for the shops to not open and the market to btfo

>maybe when enough people start keeping their wealth in Bitcoin and the governments can't tax rape our incomes willy nilly, they will actually have to listen to their citizens and provide services they need.


LMAO

getting fomo at just the thought?

>Byzantine Generals problem.
how does solving this benefit bitcoin at all

Nocoiner is mad that we make more monies in a month that he makes in years