BTC is near end, proof block 2

[dohh]

This topic will be probably be locked very soon and I have to repost it to CNC.
In my opinion BTC is a pyramid, a ponzi and a pump and dump scheme at the same time. Here is why:

1) BTC is a pyramid scheme for 2 reasons.

a) only way to generate new coins, is to mine. And mining is getting 2 times more pointless with every halvening. That is an optimistic estimation and is precise only in condition is number of miners remains constant. If number of miners doubles within one halvening period, mining will get 4 times more pointless!

Satoshi (and small group early miners):  huge reward in return of computing power                        $$$$$$$$$$$$$$$$
After few halvenings (much bigger group of miners): 2 times less money in return of same task                $$$$$$$$
Now (huge group of miners): many times less money for same task                                                             $

A clear pyramid.

b) Pyramids are defined as schemes that dont involve a real product behind it. BTC supporters claim, they have product. Well, I say, its just a camouflage. Kyäni masked scheme with juice drink, Kairosplaner masked scheme with whole user interface. They were still schemes.

BTC is scheme because it can not be scaled to necessary volumes (or even nearly close) and this information is kept secret. Instead of admitting it, users are promised with savious like lightning network etc.

2) BTC is also a ponzi scheme.

In Ponzi schemes "investors" are being paid with money, that come from new joiners. That is also the case with BTC. You can earn either with mining (which is a pyramid) or by selling Your coins to Greater Fool. Although this is well masked with sites, that do BTC brokering and give quite authentic feeling of trading with real "asset", its not the case. Only way, You earn with BTC, is by selling it to another person.

3) BTC is also a pump and dump scheme. For understanding that, You should read more about this kind of frauds and then start to record BTC price change. Every important price change (without exceptions) happens in few minutes, leaving other users outside pumpers a marginal change to react. I know, it sounds rude, but thats how it is.
Median transfer value is several hundred dollars, while few whales drive to to several thousands.

I´m sorry, I dnt have any better news for those who sincerely think, BTC is a phenomenal technology and investment opportunity.

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[boyknightvn]

Thanks for your opinion, but I have the another opinion.
I think BTC is a good future technology because it's feature, but that feature (decentralization) make it trouble when no one can control it lead to many bad organizations or bad guys make a profit from it.
The same thing happens with the market, the whales manipulate the price to get a big profit.
I think cryptocurrency have to develop in a long time to use in the future.
Anyway, this is a new industry and still a lot of risk, so I think we have a safe way to invest in this market.

[Nanagyasi]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

[krishnapramod]

Lol, no. I didn't get paid for inviting someone to Bitcoin, maybe I overlooked the ponzi aspect, would have gained from it

Do we have the dividends? Nope. Forks ain't part of Bitcoin. Get your head into decentralization and grasp, understand.

I have seen a lot of echo chamber ethics and I hate to say, you're part of it. Mining is energy consuming, we as a community or energy sector (green) would find the solution.

Don't understand what couple of people say about Bitcoin. Grasp, you have the time.

[dohh]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

[dohh]

Lol, no. I didn't get paid for inviting someone to Bitcoin, maybe I overlooked the ponzi aspect, would have gained from it

Do we have the dividends? Nope. Forks ain't part of Bitcoin. Get your head into decentralization and grasp, understand.

I have seen a lot of echo chamber ethics and I hate to say, you're part of it. Mining is energy consuming, we as a community or energy sector (green) would find the solution.

Don't understand what couple of people say about Bitcoin. Grasp, you have the time.

You (as an early enthusiast community) get paid premium for inviting new folks to BTC, by selling air to newcomers.

[Darooghe]

Thanks for your opinion but it's a Bullshit!
Lock the thread ASAP.

[dohh]

Thanks for your opinion but it's a Bullshit!
Lock the thread ASAP.

Go ahead, wont bend the reality.

[davis196]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

Bitcoin is not an asset,it's a currency.People,who think bitcoin is an asset take the responsibility for their wrong assumptions.Is bitcoin a ponzi sheme?No ,but bitcoin can be and actually is used as a currency in many ponzi schemes(just like fiat money).You can't blame the ponzi scheme currency for the ponzi scheme itself.
Is bitcoin pump&dump?Yes, and so what?

[dohh]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

Bitcoin is not an asset,it's a currency.People,who think bitcoin is an asset take the responsibility for their wrong assumptions.Is bitcoin a ponzi sheme?No ,but bitcoin can be and actually is used as a currency in many ponzy schemes(just like fiat money).You can't blame the ponzi scheme currency for the ponzi scheme itself.
Is bitcoin pump&dump?Yes, and so what?

So what? P&D is monetary fraud, thats what.

[dohh]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

Bitcoin is not an asset,it's a currency.People,who think bitcoin is an asset take the responsibility for their wrong assumptions.Is bitcoin a ponzi sheme?No ,but bitcoin can be and actually is used as a currency in many ponzi schemes(just like fiat money).You can't blame the ponzi scheme currency for the ponzi scheme itself.
Is bitcoin pump&dump?Yes, and so what?

BTC is not a currency, it just claims to be one. It wont scale to become a currency and thats precisely what I wrote in OP.

If I call myself Chuck Norris, it wont make me him.

[Cryptotissue]

I'm sad you feel and think this way. You should understand that the market price of bitcoin is determined by the demand and supply of bitcoin in a particular point in time. The drop in the price of bitcoin was meant to happen, because the total number of bitcoin circulating is more than the amount that was circulating in 2017.

[dohh]

I'm sad you feel and think this way. You should understand that the market price of bitcoin is determined by the demand and supply of bitcoin in a particular point in time. The drop in the price of bitcoin was meant to happen, because the total number of bitcoin circulating is more than the amount that was circulating in 2017.

That is not serious argument. So price of gold should drop with every next ounce mined? That would be equal statement.

[xbiv2]

1. BITCOIN HAVE LIMITED QUANTITY, IN DIFFERENCE FROM TULIPS, DOLLARS AND Ethereum
2. GOLD EXACTLY SAME A PYRAMID SCHEME AS A BITCOIN BUT ALREADY ABSORB ALL IN
https://pastebin.com/ZUxTmR99

[krishnapramod]

Lol, no. I didn't get paid for inviting someone to Bitcoin, maybe I overlooked the ponzi aspect, would have gained from it

Do we have the dividends? Nope. Forks ain't part of Bitcoin. Get your head into decentralization and grasp, understand.

I have seen a lot of echo chamber ethics and I hate to say, you're part of it. Mining is energy consuming, we as a community or energy sector (green) would find the solution.

Don't understand what couple of people say about Bitcoin. Grasp, you have the time.

You (as an early enthusiast community) get paid premium for inviting new folks to BTC, by selling air to newcomers.

This is why I avoid posting on this board. You didn't understood what I said. Premium, haha. I could give you reasons to make you understand, but you don't want it.

Tulip mania neither gold brought decentralization with it. Ponder upon it.

[davis196]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

Bitcoin is not an asset,it's a currency.People,who think bitcoin is an asset take the responsibility for their wrong assumptions.Is bitcoin a ponzi sheme?No ,but bitcoin can be and actually is used as a currency in many ponzi schemes(just like fiat money).You can't blame the ponzi scheme currency for the ponzi scheme itself.
Is bitcoin pump&dump?Yes, and so what?

BTC is not a currency, it just claims to be one. It wont scale to become a currency and thats precisely what I wrote in OP.

If I call myself Chuck Norris, it wont make me him.

OK,bitcoin is not a currency,it's a meta-currency or "something like a currency".But using btc for trading and purhasing  goods and services is legal in most of the countries,worldwide.
Pump and dump is a monetary fraud.I know it is ,but again....SO WHAT?
Pump and dump schemes can be seen on so many other financial markets.Is anyone punished?Nope.

[ACCOUNTSTRADER]

I dont think like you mate, im listening this kind of shit since 2010.... Bitcoin have a long and strong live, trust me

[wairawein]

It looks like it's not finished, it has long been recognized and traded in some countries, looking in the direction it is a good medium and it will not end there.

[dohh]

Lol, no. I didn't get paid for inviting someone to Bitcoin, maybe I overlooked the ponzi aspect, would have gained from it

Do we have the dividends? Nope. Forks ain't part of Bitcoin. Get your head into decentralization and grasp, understand.

I have seen a lot of echo chamber ethics and I hate to say, you're part of it. Mining is energy consuming, we as a community or energy sector (green) would find the solution.

Don't understand what couple of people say about Bitcoin. Grasp, you have the time.

You (as an early enthusiast community) get paid premium for inviting new folks to BTC, by selling air to newcomers.

This is why I avoid posting on this board. You didn't understood what I said. Premium, haha. I could give you reasons to make you understand, but you don't want it.

Tulip mania neither gold brought decentralization with it. Ponder upon it.

Try to use less colloquial language, English is my 3rd language.
Language of math, however, is universal.

[dohh]

I wish to say that your argument is highly biased and skewed. Sometimes I just wish people who present such arguments do so fairly. Talking about btc being a scheme just because it is sold to others before you earn from, then what is gold and all the other things. I have never seen an asset which is not sold before.
What at all do you want us to do with it. Decorate our rooms with it?

Now, thats a semi-truth. The crucial difference is, that with BTC You earn ONLY by reselling it, there is no organic cashflow from service itself. Its very different with normal assets.

Bitcoin is not an asset,it's a currency.People,who think bitcoin is an asset take the responsibility for their wrong assumptions.Is bitcoin a ponzi sheme?No ,but bitcoin can be and actually is used as a currency in many ponzi schemes(just like fiat money).You can't blame the ponzi scheme currency for the ponzi scheme itself.
Is bitcoin pump&dump?Yes, and so what?

BTC is not a currency, it just claims to be one. It wont scale to become a currency and thats precisely what I wrote in OP.

If I call myself Chuck Norris, it wont make me him.

OK,bitcoin is not a currency,it's a meta-currency or "something like a currency".But using btc for trading and purhasing  goods and services is legal in most of the countries,worldwide.
Pump and dump is a monetary fraud.I know it is ,but again....SO WHAT?
Pump and dump schemes can be seen on so many other financial markets.Is anyone punished?Nope.

Yeah, all clear with You. You know its P@D and You are OK with it. Im not, because people lose money because of that. But thats just difference between me and You.