Cypto / Bitcoin do you do it ??

1 lurker | 11 watchers

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Chrisull Jun 2021 1:22pm, 28 Jun 2021 17,916 posts	0 Chrisull It's a ponzi scheme. End of story.
FenlandRunner Jun 2021 1:30pm, 28 Jun 2021 6,725 posts	0 FenlandRunner Nailed it Chrisull.
The_Saint Jun 2021 3:30pm, 28 Jun 2021 6,853 posts	0 The_Saint It isn't a Ponzi Scheme in the true sense, it is more like a speculative bubble. With a Ponzi Scheme there is no product or any mechanism for generating money other than what new "investors" hand over. With Bitcoin there is a product even though it is intangible but having said that money itself is an intangible social construct. Not that I approve of it.
Jun 2021 8:53pm, 30 Jun 2021 2 posts	0 [Removed by moderator]
Weath Jun 2021 8:58pm, 30 Jun 2021 713 posts	0 Weath That's twice you've promoted that site.
cackleberry Jun 2021 9:39pm, 30 Jun 2021 2,112 posts	0 cackleberry How do you mine for something that doesn't physically exist, or am I missing something?
Chrisull Jun 2021 10:52pm, 30 Jun 2021 17,960 posts	0 Chrisull Ok I'll settle for the experts view: "Bitcoin is not a currency at all. It's a risky speculative asset which has strong similarities to a ponzi scheme. "
The_Saint Jul 2021 10:37am, 1 Jul 2021 6,854 posts	0 The_Saint One of the great strengths of humans is to look to the past for precedent and then triumphantly deciding that these don't apply this time. So here are some celebrated examples of bubbles. investopedia.com
FenlandRunner Jul 2021 8:55am, 2 Jul 2021 6,776 posts	0 FenlandRunner FTSE 100 jumps to pre-Covid highs as Bitcoin takes another tumble
The_Saint Jul 2021 5:26pm, 2 Jul 2021 6,855 posts	0 The_Saint Ah yes stocks and shares, gambling for posh people. Every so often I remind myself what a derivative is because every time I just shake my head