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Crypto Currency Mining a Giant Pyramid Scheme?

Bitcoin is an obvious Ponzi scheme and even some of the biggest proponents are admitting to it now.
Every time it was in trouble they launched new campaigns to get more people into the Scheme to support those at the top. In one Interview I saw one of the leading people who had over 1 billion in bitcoin was talking about the steps that had been initialized in the past when they saw problems happening. Then in 2021 when they saw a huge dive they realized it was coming to an end so they blitzed the airwaves and the super bowl with ads to fatten up the pot with new people. Then when it stabilized at a new high those at the top removed their cash by using commercials by Matt Damon and other celebrities to get Younger People to Invest more so no one noticed a slide as the top dogs cashed out.
 
The real scheme is paper fiat currency, which under this admin is now losing value at 10%. Not sure if thats per month or per year yet. Once we took the dollar off the gold standard, its just paper.
They cannot print Bitcoin.
You have any data to back up that 10%? I follow currency trading and the US dollar has not dropped 10% versus any other currency.

The Gold Standard had to be removed, I suggest you do some research and you will see exactly why the Republicans removed the Gold Standard. I always find it amusing as a independent that anytime the Democrats screw up something it quickly labeled as the Democrats did it. When it's the Republicans that Screw up something their supporter just say that the Government screwed it up. I had a debate with a friend who was angry that Biden had Given people so much free Covid money via Government checks. I had to Point out to him that Trump was the one who gave out two checks valued at $1800 and Biden had only Given out one check valued at $1400. Also Trump was the one that bailed out the airlines and all sorts of institutions with 3.2 Trillion dollars. All throughout his term we heard nothing about the deficit, which was ballooning fast. Now all of a sudden the first words about Deficits are starting to roll out of the mouths of The GOP once again.

I am all for presidents doing what they need to do in order to maintain stability but lets keep the criticism fair and not hammer one party for doing the same thing the other party is doing. Both of them have their hands in the cookie jars and are getting rich by pushing the agendas you want to hear.

I like that statement "they cannot print bitcoin"!
That's the only Green part about Bitcoin. Unfortunately they can make up another set of needless math equations to create more fairy dust money.
 
You have any data to back up that 10%? I follow currency trading and the US dollar has not dropped 10% versus any other currency.

The Gold Standard had to be removed, I suggest you do some research and you will see exactly why the Republicans removed the Gold Standard. I always find it amusing as a independent that anytime the Democrats screw up something it quickly labeled as the Democrats did it. When it's the Republicans that Screw up something their supporter just say that the Government screwed it up. I had a debate with a friend who was angry that Biden had Given people so much free Covid money via Government checks. I had to Point out to him that Trump was the one who gave out two checks valued at $1800 and Biden had only Given out one check valued at $1400. Also Trump was the one that bailed out the airlines and all sorts of institutions with 3.2 Trillion dollars. All throughout his term we heard nothing about the deficit, which was ballooning fast. Now all of a sudden the first words about Deficits are starting to roll out of the mouths of The GOP once again.

I am all for presidents doing what they need to do in order to maintain stability but lets keep the criticism fair and not hammer one party for doing the same thing the other party is doing. Both of them have their hands in the cookie jars and are getting rich by pushing the agendas you want to hear.

I like that statement "they cannot print bitcoin"!
That's the only Green part about Bitcoin. Unfortunately they can make up another set of needless math equations to create more fairy dust money.
Why are you turning this political? The 10% is a VERY conservative number. Have you purchased any food, gas, or ammo lately? Inflation is at 40 year highs.
 
Bitcoin is an obvious Ponzi scheme and even some of the biggest proponents are admitting to it now.
Every time it was in trouble they launched new campaigns to get more people into the Scheme to support those at the top. In one Interview I saw one of the leading people who had over 1 billion in bitcoin was talking about the steps that had been initialized in the past when they saw problems happening. Then in 2021 when they saw a huge dive they realized it was coming to an end so they blitzed the airwaves and the super bowl with ads to fatten up the pot with new people. Then when it stabilized at a new high those at the top removed their cash by using commercials by Matt Damon and other celebrities to get Younger People to Invest more so no one noticed a slide as the top dogs cashed out.

Is it possible most investments are ponzi schemes? There are a lot of talking heads online, over the radio and TV talking up or talking down about every investment available. In the 2000s the mantra was, "They aren't making any more land," therefore real estate would go up forever. In the late 90s, tech stocks convinced me I could invest in the stock market and never have a day job. Nowadays, some estimate the percentage of "zombie" corporations ranges from 20-40%. Without cheap debt, these corporations cease to exist.

Where ever there is a buck to be made, you can be sure bad actors will flock to make that buck.
 
Is it possible most investments are ponzi schemes? There are a lot of talking heads online, over the radio and TV talking up or talking down about every investment available. In the 2000s the mantra was, "They aren't making any more land," therefore real estate would go up forever. In the late 90s, tech stocks convinced me I could invest in the stock market and never have a day job. Nowadays, some estimate the percentage of "zombie" corporations ranges from 20-40%. Without cheap debt, these corporations cease to exist.

Where ever there is a buck to be made, you can be sure bad actors will flock to make that buck.
The difference with Crypto is the technology is one of the most impactful since the Internet. Blockchain is a disruptive platform that will be used to automate most transactions in the future.
Lawyers are going to hate it, which makes me happy. The implicit trust, security, decentralization, and transparency of blockchain creates a mechanism for complex contract automation across MANY industries. It will also be as simple as a credit card transaction is today.
MANY of the "coins" people are buying now will become useless though, and I agree that those are ponzi schemes. People created many coins as a joke, and then became rich. You need to study the underlying technology behind the crypto currency to understand if its real, and will last. An example is Cardano, which was created as a faster alternative to Ethereum. Bitcoin is the gold standard, and everything else is trying to be the silver, or coins that facilitate the transactions. All the other "coins" may get you rich quick if you are a trader, but they will not last into the future. Like all investments, you need to do your homework. BTW, Will Prouse is also a Bitcoin miner as another of his hobbies. You can tell by the license plate on his Tesla. ?
 
The difference with Crypto is the technology is one of the most impactful since the Internet.
The only thing history will say Crypto was impactful on was the environment.

It will probably go down as one of the stupidest things ever created and it makes sense since the inventor of Bitcoin seems to be Either an Anonymous person or the Chinese Govt. Whichever one it is they don't want to take credit for it and that alone speaks volumes.
 
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gold mine owners being super rich
our past

money printers being super rich
our current

those with the most computers being super rich
maybe this can be our future... ?
 
The only thing history will say Crypto was impactful on was the environment.

It will probably go down as one of the stupidest things ever created and it makes sense since the inventor of Bitcoin seems to be Either be an Anonymous person or the Chinese Govt. Whichever one it is they don't want to take credit for it and that alone speaks volumes.
Do you feel the same about all the gamers out there running Nvidia cards? How about SETI@home? Should we shut down Amazon? Google? The Internet? The computer or cell phone you are using to type on?
Stop charging your cell phone? No more Air conditioning?
Perhaps turn off all the energy inefficient oxygen machines in hospitals around the world? Freaking light bulbs? What else needs to be shut off to make you happy?
BTW, did you know that most crypto is moving to proof of stake and not proof of work? More efficient than your credit card transactions.
I too wish we were all farmers again riding horses and burning whale oil for lights, but I'm a romantic.
 
Do you feel the same about all the gamers out there running Nvidia cards? How about SETI@home? Should we shut down Amazon? Google? The Internet? The computer or cell phone you are using to type on?
Stop charging your cell phone? No more Air conditioning?
Perhaps turn off all the energy inefficient oxygen machines in hospitals around the world? Freaking light bulbs? What else needs to be shut off to make you happy?
BTW, did you know that most crypto is moving to proof of stake and not proof of work? More efficient than your credit card transactions.
I too wish we were all farmers again riding horses and burning whale oil for lights, but I'm a romantic.
Those things have nothing in common with crypto currency. Crypto is just a ridiculous concept based on spending an endless amount of energy to create something that has nothing backing it. Anyway all the smart ones on the top knew when this Ponzi scheme was ending and they bailed months ago.
 
Those things have nothing in common with crypto currency. Crypto is just a ridiculous concept based on spending an endless amount of energy to create something that has nothing backing it. Anyway all the smart ones on the top knew when this Ponzi scheme was ending and they bailed months ago.
This type of roller coaster has happened multiple times, just like the stock market.
 
I wonder if fractional reserve banking and a digital currency would be compatible. If not, I have trouble believing that the banks would let the ability to lend almost 10x more money than they actually have just slip away.
 
Why are you turning this political? The 10% is a VERY conservative number. Have you purchased any food, gas, or ammo lately? Inflation is at 40 year highs.
I paid $3 for a cheeseburger a few days ago that was 99¢ 4 years ago. I used (~5 years) to be able to spend $150 at the grocery store and leave with enough food for 2 weeks, now $150 is just enough for meat and condiments. Gas is obvious.

You want to really boil your blood, make an Amazon list with a bunch of stuff in it. Let it sit for a year or two, and go back; it shows price increases over that period. My wedding registry from 2019 has increased in value well over 25%.

This has nothing to do with politics. Neither side is going to stand up against the Federal Reserve. Blue and red are just an illusion of choice, both parties really want the same thing in the end.
 
Do you feel the same about all the gamers out there running Nvidia cards? How about SETI@home?
Folding@Home was about curing diseases, quite direct utility

SETI@Home, i still think was worthwhile. the universe is huge and it would be a waste of space for only earth to have life ?☀️

getting to the core of the point perceived, providing a secure platform for interoperation is a value delivered.

i hope the lessons of secure and universal interoperability are adopted by "traditional" systems.

islanding is an issue in systems that span many people participating

also, playing a video game delivers a huge value from the energy consumed. people enjoying life is utility delivered ?
 
The wave of investors led to an increase in demand, which, with a limited number of tokens, meant an increase in their prices. At some point, bitcoin was so "bloated" that many "seasoned" owners began mass selling cryptocurrencies. These were people who had a large number of tokens extracted from them in the past. Judging by the information I received on blog.bhero.com bitcoin has every chance for another big growth, and it's worth investing in.
 
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Yeah, but if you bought a bitcoin yesterday, you would have made $2500 today. Unless you deal drugs, your not going to get a better return elsewhere. I made 18k on paper in one day this week.
 
Yeah, but if you bought a bitcoin yesterday, you would have made $2500 today. Unless you deal drugs, your not going to get a better return elsewhere. I made 18k on paper in one day this week.
Bitcoin depends on people having your kind of mindset.
The real question is how much have you lost since January of this year? Around $24,000 per BT and that is why financial institutions and large businesses are dumping it fast and the small guys are buying it up and seeing it as an opportunity. Two different kinds of mindsets are at work here.
 
Bitcoin depends on people having your kind of mindset.
The real question is how much have you lost since January of this year? Around $24,000 per BT and that is why financial institutions and large businesses are dumping it fast and the small guys are buying it up and seeing it as an opportunity. Two different kinds of mindsets are at work here.
Nope. Depends on when you bought. Many of us are still up a few thousand percent. Even Will Prowse is a bitcoin miner using solar power to run his systems. Win/Win.
 
Nope. Depends on when you bought. Many of us are still up a few thousand percent. Even Will Prowse is a bitcoin miner using solar power to run his systems. Win/Win.
Win/Win if the equipment is free. Not if you Spent $12K per miner and another $40K on Solar.
 
Win/Win if the equipment is free. Not if you Spent $12K per miner and another $40K on Solar.
You will make it back fairly soon. I expect Bitcoin to hit $200K in the near future. Cardano should be about $5, and Ethereum back to over $4k. BUT, its going down to about 14K first HOPEFULLY! I have been pissed with the recent rise, as I expect some funds soon I wanted to invest. I have never mined, and probably never will. Just buying the dips.
 
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