Don't buy bitcoin because it won't be fine

[KotiKo]

Indeed the market situation has been red lately so many crypto currency players are hesitant to play bitcoin again. I am one of the people who is also doubtful about this situation. I am a crypto currency fighter who plays crypto currency without using capital so I am looking for the safe not to buy bitcoin. I am afraid of the bitcoin price fluctuations because if I take the wrong opportunity then I will experience a huge loss. Indeed the decision I made not to buy bitcoin is also not good because the market situation will take longer to reach normal conditions. But I have not dared to take big risks.

Even in spite of the fact that we have been observing the red market for quite a long time, I do not cease to believe in successful investments in cryptocurrency. And even more so I never doubted bitcoin

[1714489849]

1714489849

[1714489849]

1714489849

[QuestionAuthority]

Don’t be an idiot. Bitcoin is not a Ponzi scheme. It’s a vehicle developed to support criminal activity and long cons.

Whatever the motives behind the Bitcoin's development, it still cannot be consumed by nobody in its circulation chain. Meaning, profit or benefit for investors, criminal or not, can be obtained only by using funds from new investors. Hence, Ponzi scheme.

It is definitely NOT a Ponzi scheme.  In a Ponzi scheme early investors make money off of newly injected money into the system.  With bitcoin, criminals make money by using an uncontrolled unregulated transfer of value system or con men use various schemes to convince people to send them their money using an unregulated irreversible currency.

Well, criminals are just people who have committed a crime and as such they are not immune to Ponzi schemes. A Ponzis scheme is NOT when early investors make money off of newly injected money into the system, because every investment fits that definition. For e.g.  if you had put 1000 USD into Apple stock at the beginning of the year, and sold it today, you, as an early investor, would have made money off of newly injected money into the system - which is injected by new investor, the buyer of your stocks. So, is Apple a Ponzi? No. A Ponzis scheme is when investors put in consumable resources  - resources with the capacity to be used, consumed or practically utilized by end consumers for satisfying their needs, and end up with non-consumable item which has no end consumers and as such it cannot be used by anyone. For e.g. a car is used by end consumers for driving, a dollar for settling loan obligations, food for providing nutritional support, a raw material for producing finished products etc. Hence, investing into dollar, car or food industry,  crude oil, etc., is a not a Ponzi scheme because funds are transfered into something that is used for satisfying actual human needs, and these needs are the very reason why economic activity that produces and trade consumable resources exists. But, when funds are transfered into bitcoin - a number associated with an address, this is a Ponzi scheme because this number cannot be used for satisfying actual human needs. Instead, it can only be transferred from hand-to-hand, from member-to-member, from address-to-address. If an owner of this address is criminal, nothing changed - Bitcoin is still a non-consumable item and thus, putting your funds into it is investment into a Ponzi scheme.

Wrong: https://en.m.wikipedia.org/wiki/Ponzi_scheme

“Ponzi scheme
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 through legitimate sources.”

https://www.merriam-webster.com/dictionary/Ponzi%20scheme

“A Ponzi scheme is an investment scam that pays existing investors out of money invested by new investors, giving the appearance of earnings and profits where there are none. Ponzi schemes are also known as pyramid schemes.”

These definitions are correct, but imprecise since an existing investor who bought an Apple stock and sell it immediately for a small profit would not have made money from company's profit or earnings but from funds invested by a new investor - the buyer of the stock. Hence, given the definitions you provided, Apple is Ponzi. As you can see, it is not solely the source of the profit what defines a Ponzi scheme. You must also consider the type of resource in which was invested. In the above example it was invested into resources such as buildings, machinery, equipment, vehicles and tools that Apple uses to produce their products. All these resources are consumable - they can provide benefit to a human. That is why investment into Apple is not investment into Ponzi. But, by investing into Bitcoin it was invested into number associated with an address, and this number obviously cannot be consumed by humans, but only transferred from address-to-address. That's why Bitcoin is a Ponzi scheme.

You can’t just change the meaning of a word. You can call bitcoin a bad thing if you like but it’s not a Ponzi.

[Lexurdania]

Bitcoin not only used for transfer address to others address. If you are in certain country like Japan or Germany, you can use bitcoin for paying goods in merchant, restaurant etc.

[Marbelli]

I can tell you that right now you need to buy Bitcoin if you want to make money because from the beginning of 2019 it will start to grow very actively

[Ronaldcoin2017]

Bitcoin is still fine, the dip is really a normal thing in crypto. I see that the bitcoin is now on the huge dip that it seems like it's price so bored and slowly moving. But I've been on crypto for do long now and this things is already happens before it  is really normal and repeatetive. So I think the only thing we can do now is to hold because anytime bull run may runs and we need to have more patience.

[Twentyonepaylots]

There is an assumption that in December we can also go to 4k.

And about the use of the cue ball as a means of payment, it turns out interesting. A year ago, many PP rushed to add a cue ball as a means of payment, as well as payments to my mother. And now somehow everything smoothly removed this function ... I don’t really like it.

  It is individual choices whether to buy, invest or not to buy, invest in Bitcoin? we have a lot of news items being available for us, as reference on our investment in the Crypto market yet, one should consider the ups and down of the market and the correction after of such drop. Bitcoin/ Crytpo been here for more than 10 years now, if consumer's or investors do not believe on these, we can not have the crypto market as we speak/discuss.

[RadjorBlade]

Maybe you right with how bad of bitcoin situation at the first January until November, but I am not agree with your opinion about how bad situation of bitcoin and altcoin price bacause I think bitcoin will get back to higher price again some day.

Don't be too pessimistic about the price of bitcoin, because the price will rise again even though it's not as drastic as last year, but there is price movement because bitcoin is always volatile. Bitcoin trading occurs because there are people who sell and buy. The dynamics of this trade will create prices. So optimistic that the price of bitcoin will definitely rise again.

[apilpirman.bisnis]

We have waiting again for buying bitcoin right now, we have check at the last two month of the end year bitcoin price still not growing up and still down, we have waiting maybe until last month for checking how much of bitcoin is growing up.

[ngerok]

Bitcoin is still fine, the dip is really a normal thing in crypto. I see that the bitcoin is now on the huge dip that it seems like it's price so bored and slowly moving. But I've been on crypto for do long now and this things is already happens before it  is really normal and repeatetive. So I think the only thing we can do now is to hold because anytime bull run may runs and we need to have more patience.

yes, I agree with you, I'm sure with Bitcoin. what I did when the market went down was to buy bitcoin because I thought this was an opportunity to buy at a cheap price and wait until the price went up, then sell and I would get a profit.

[giagia95]

Thank you for your project, let me know when we can start on the delivery of the token.

[kokobaba880]

Bitcoin is good to buy and it is important for us that if we use online shooing we have to keep crypto for payment purpose and i want to buy bitcoin for short term because i think that price of bitcoin will rise soon so for three months i want to keep bitcoin in safe wallet and short term buying is not a bad thing but if you are a wise person you have to keep bitcoin with you.

[bummm]

Bitcoin is the good most future profit coin,and many time give us proved it is the right currency.investment is the good makes future profit for the bitcoin.holding trading also bitcoin is the number one currency all of them.so I believe bitcoin and I have fell against 2017 year last month back to back my profit.

Bitcoin proved its best already, though this time bitcoin is not in good standing however, many of us still believe that bitcoin will be fine.

All the guys that know about the advantages of the cryptocurrency will simple laugh when they read something like that : "do not buy Bitcoins". They know the real value of BTC and its advantages.

[PlusOne88]

You might have misunderstood what bitcoin is really all about. It is not really because it is not physical like money that it cannot be used. Apology to you but I must disagree with some ideas you have posted. While some of your ideas is correct and bitcoin appears to be more like a ponzi scheme but honestly it is not what it is intended to be. Who cause it to become a fraud as you might have think are the ways people use it. It is like a knife in the kitchen that is supposed to cut meat but can be used to do murder. Yet it was just a tool and who uses it makes it either good or bad. The judgement must be based on the users and not to the tool itself. Can you not buy a product using bitcoin? Can you not use it daily given that there are stores accepting it? Can you not create any demand for it? If not then I would say you are perfectly right and it is all just a matter of transfer. But bitcoin is something that can be utilized though for now it doesn't get as much support that it needs. People keep holding it for nothing but waiting for the price to move up and sell it in order to gain. This is what makes it appear more like a Ponzi scheme. The people who created bitcoin a different character when it was intended not to be what it is now. Just don't be so negative about bitcoin. You want to change things? then do it now! Build your stores accept bitcoin payments and you can create new demands and opportunities for earning money the realistic way as it was meant to be.

[fxsurfer]

Don’t be an idiot. Bitcoin is not a Ponzi scheme. It’s a vehicle developed to support criminal activity and long cons.

Whatever the motives behind the Bitcoin's development, it still cannot be consumed by nobody in its circulation chain. Meaning, profit or benefit for investors, criminal or not, can be obtained only by using funds from new investors. Hence, Ponzi scheme.

It is definitely NOT a Ponzi scheme.  In a Ponzi scheme early investors make money off of newly injected money into the system.  With bitcoin, criminals make money by using an uncontrolled unregulated transfer of value system or con men use various schemes to convince people to send them their money using an unregulated irreversible currency.

Well, criminals are just people who have committed a crime and as such they are not immune to Ponzi schemes. A Ponzis scheme is NOT when early investors make money off of newly injected money into the system, because every investment fits that definition. For e.g.  if you had put 1000 USD into Apple stock at the beginning of the year, and sold it today, you, as an early investor, would have made money off of newly injected money into the system - which is injected by new investor, the buyer of your stocks. So, is Apple a Ponzi? No. A Ponzis scheme is when investors put in consumable resources  - resources with the capacity to be used, consumed or practically utilized by end consumers for satisfying their needs, and end up with non-consumable item which has no end consumers and as such it cannot be used by anyone. For e.g. a car is used by end consumers for driving, a dollar for settling loan obligations, food for providing nutritional support, a raw material for producing finished products etc. Hence, investing into dollar, car or food industry,  crude oil, etc., is a not a Ponzi scheme because funds are transfered into something that is used for satisfying actual human needs, and these needs are the very reason why economic activity that produces and trade consumable resources exists. But, when funds are transfered into bitcoin - a number associated with an address, this is a Ponzi scheme because this number cannot be used for satisfying actual human needs. Instead, it can only be transferred from hand-to-hand, from member-to-member, from address-to-address. If an owner of this address is criminal, nothing changed - Bitcoin is still a non-consumable item and thus, putting your funds into it is investment into a Ponzi scheme.

Wrong: https://en.m.wikipedia.org/wiki/Ponzi_scheme

“Ponzi scheme
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 through legitimate sources.”

https://www.merriam-webster.com/dictionary/Ponzi%20scheme

“A Ponzi scheme is an investment scam that pays existing investors out of money invested by new investors, giving the appearance of earnings and profits where there are none. Ponzi schemes are also known as pyramid schemes.”

These definitions are correct, but imprecise since an existing investor who bought an Apple stock and sell it immediately for a small profit would not have made money from company's profit or earnings but from funds invested by a new investor - the buyer of the stock. Hence, given the definitions you provided, Apple is Ponzi. As you can see, it is not solely the source of the profit what defines a Ponzi scheme. You must also consider the type of resource in which was invested. In the above example it was invested into resources such as buildings, machinery, equipment, vehicles and tools that Apple uses to produce their products. All these resources are consumable - they can provide benefit to a human. That is why investment into Apple is not investment into Ponzi. But, by investing into Bitcoin it was invested into number associated with an address, and this number obviously cannot be consumed by humans, but only transferred from address-to-address. That's why Bitcoin is a Ponzi scheme.

You can’t just change the meaning of a word. You can call bitcoin a bad thing if you like but it’s not a Ponzi.

If no human being is able to use Bitcoin for satisfying his or her needs, but only transfer it to another's address, how can someone in Bitcoin circulation chain benefit from it? Well, only by leaving it. And in order to do something like that, a new investor must join the chain by bringing usable resources like dollar, car, food, mobile phone, software, share in a company, etc. These resuorces can then be actually used. Either for fulfilling loan obligations, driving, eating, sending and receiving phone calls, text editing or producing goods and services. So Bitcoin in itself is useless the same as membership in a Ponzi scheme and one can benefit from it only by leaving it.

[ansarose1]

Yes, we might say bitcoin is a invisible money, however it is a potential coin a digutal coin that has huge value, and by bitcoin investments, many got rich and many also earning huge profit fron it, so we can't conclude and just say not to buy bitcoin because it won't be fine.

[fxsurfer]

Bitcoin not only used for transfer address to others address. If you are in certain country like Japan or Germany, you can use bitcoin for paying goods in merchant, restaurant etc.

What is "paying for goods" if not transfer from address to address?

[hastag_80]

In a fraudulent investment scheme, like Ponzi, investors transfer their utilizable resources, be it money, goods or services, and then they end up with something which has zero utilization capacity, like promise or non-binding record of investment. After the investment, the only possible way for them to get utilizable resources back is if new investors join the scheme and in that way bring such resources with them.

The opposite is true in a legitimate investment business, where investors transfer one type of utilizable resource and in return they receive another type of such resource. An utilizable resource is anything that can be practically utilized by humans. For e.g. a car can be practically utilized for driving, a dollar for loan payments, a stock for participation in company's profitability, food for providing nutritional support, a raw material for producing finished products etc. Hence, an utilizable resource is not something that is just passed from hand-to-hand on a market for investing or speculation purposes, but something which has end consumers who will consume, utilize or otherwise put the thing to practical use. And this practical use by end consumers is why things got to the market in the first place. For e.g. dollars got to the market because they have end consumers in the form of borrowers the same as food has such consumers in hungry people. In other words, loan contracts and collaterals force people to use dollars for loan payments the same as hunger forces people to use food. Since all dollars (either paper or digital) are loan based, they are not just passed from hand to hand, but also utilized by borrowers who are forced to give goods and services to dollar investors, speculators, or regular users, when loan payment liability must be fulfilled. In the same way, hungry people are forced to give money, goods or services to food producers.

In a fraudulent investment scheme there are no end consumers, which is why a thing that lures members into the scheme is just passed from hand-to-hand, from member-to-member... until it is realized that the only profit can come from utilizable resources invested into the scheme.

And this finally brings us to bitcoin and the following question. When investors transfer their utilizable resources like money, goods or services into bitcoin do they end up with another utilizable resource, i.e. a resource which can be utilized by some end consumer? Well, the obvious answer is: no, they do not. Instead, they end up only with a record in a table (blockchain) or in other words, only with a number associated with their bitcoin address. And this number cannot be practically utilized like food is utilized by hungry people or dollar by borrowers, but it can only be passed from address-to-address, from hand-to-hand,  from member-to-member. And this is exactly how classical fraudulent schemes operate - they use something to lure people into the scheme, but the thing itself is non-utilizable, which is why it is just passed from one person to another. Once people realize that profit or utilizable resources can come from new investors only, the whole scheme collapses. And this is the ultimate fate of bitcoin. So, do not buy it.

Update 1:
I see a lot of posters are unable to differentiate between the terms "usage of bitcoin" and "transfer of bitcoin". "Using" X is not the same as "transferring X". If I say that iPhone has a use, that mens it is used as communicating device, music player, gaming console, camera, and so on. If I say that dollar has a use, that mens it is used by borrowers for fulfilling their loan obligations - which is the reason it came into existence in the first place. Passing iPhone or dollars from hand to hand is not usage - it is transfer. Nearly everything that is in existence has the capacity to be transferred from one person to another, either electronically or manually.

However, that does not mean that everything has the capacitly to be used, consumed or practically utilized for satisfying human needs. And it is the capacitly to satisfy human needs why things are produced and why they came to the market in the first place. For e.g. there are lots of people who have needs to consume goods or services they don't own. But how can they get them? Well, by borrowing them, with the implied or expressed intention of returning them back in the future. And here is where the banks kick in with their product - dollar. Dollar is produced by the banks to satisfy needs of these people. Its main feature is that it is composed of two crucial parts: contract and collateral. These components guarantee that borrowers who traded produced dollars to people for their goods and services, return goods and services back to them, which happens every time their contract obligates them to make loan payments.

Hence, dollar is product like food or clothing, with the capacity to be used, consumed or practically utilized by its end users - borrowers.

Bitcoin on the other hand has no such utilizable capacity - it cannot be used, which is why it can only be transferred - i.e. passed from address-to-address, from hand-to-hand, from member-to-member. In other words, in the bitcoin circulation chain, nobody is able use bitcoin, like in the case of dollars, goods, services and similar utilizable resources..., which is why such resources can be obtained from new investors only. And this is the definition of a classical ponzi or pyramid scheme.

Buying bitcoin is worthy in my own thought,because its a new resources or investment in new mellennial age and its like an asset that  you invest for your own future,even though we face a bearish situation of all price value,but we now for sure thats everythings will resolves soon in the certain proper amount of time,thats why we need patience to overcome this we face trials now about cryptocurrency.

[rumexx]

I do not understand this post in relation to bitcoin being called Ponzi or did I understand what the post is talking about. Let him come out to tell us that bitcoin is scam or Ponzi after more than a decade. Do you know that bitcoin has a fixed quantity of 21 million since inception meaning bitcoin can not increase in quantity but can only rise in market price and the developers of bitcoin never call it an investment but a P2P payment system. I will like to be part of a ponzi that will last for 10 years and continue to go strong.

[humanCNC]

The current btc price is $ 6k4. It is not a high price but it can be seen that the current market volatility is very stable, so why demand at a high price. Unless you are keeping many btc. With the current volatility  of the market, traders can still make a profit. Although the profit is not high, it is less risky with a upside-down  market.

[MostafaGamal]

A lot of speculation and a lot of expectations, I see that the situation is still difficult to predict, at any moment it is possible to rise significantly .. As we approached the end of the year