There’s zero intrinsic value, zero. And it’s backed by nothing. Nobody. Nowhere. No revenue stream. No assets. No collateral. No “full faith and credit” predicted on future taxes. Nothing.
The only thing keeping it up is new money flowing into the system... at the same time “Bitcoin billionaires” are pulling money out of the system and converting into assets with real value. Their bigger pools all come thanks to the “greater fools.” It’s a zero sum proposition. Zero value is created. None. So every real asset the Bitcoin billionaires and millionaires acquire with their proceeds is funded directly by later entrants.
Everything’s going great, until there’s a rush to the exit, and then, poof.
I disagree, the value in Bitcoin lies in the virtually unhackable algorithm as well as with the ability to send and receive funds through the blockchain without outside intervention.
Its the ability to be your own bank (non custodial) that gives it a unique store of value.
You are absolutely correct. BTC is being pumped by Tether. Tether is printed out of thin air and then used to pump BTC. BTC was hijacked by Blocksteam and is controlled by them. It is a crippled system, has no use case, and has no value. It is the greatest Ponzi scheme ever devised. The only coin that has value and usefulness is Bitcoin SV (BSV). It is the coin that adheres to the original Whitepaper.
I think about it this way. Any currency such as Fiat will always have the risk of being manipulated. The "new world order" expresses so much HATE for crypto because it's impossible to control.
Corruptocrats can hate the prospect of losing control over fiat currencies, and “cryptocurrencies” can (are, in their current incarnation) fundamentally worthless, with early entrants turning paper gains into real hard assets funded entirely by later entrants. You know this, right? There is no legitimate math that can indicate anything else. Talking about the transformative wonders of blockchain technology (which I truly have nothing against) won’t repeal basic math, ever.
Ugh.
I love Dave, but Bitchcoin is a Ponzi scam.
I'm so sorry he got that stink all over his otherwise worthwhile podcast.
Not a ponzi scheme whatsoever. The only people who say that are the ones who don't understand cryptocurrency.
Where’s the value, man?
There’s zero intrinsic value, zero. And it’s backed by nothing. Nobody. Nowhere. No revenue stream. No assets. No collateral. No “full faith and credit” predicted on future taxes. Nothing.
The only thing keeping it up is new money flowing into the system... at the same time “Bitcoin billionaires” are pulling money out of the system and converting into assets with real value. Their bigger pools all come thanks to the “greater fools.” It’s a zero sum proposition. Zero value is created. None. So every real asset the Bitcoin billionaires and millionaires acquire with their proceeds is funded directly by later entrants.
Everything’s going great, until there’s a rush to the exit, and then, poof.
Nothing.
So what’d I miss??
You missed 4 crashes that never amounted to the failing of crypto.
Zero inherent value. Zero-sum game.
I’m waiting. (actually, I need to go to bed, so please, take your time.)
I disagree, the value in Bitcoin lies in the virtually unhackable algorithm as well as with the ability to send and receive funds through the blockchain without outside intervention.
Its the ability to be your own bank (non custodial) that gives it a unique store of value.
Do you think gold and silver are the move?
You are absolutely correct. BTC is being pumped by Tether. Tether is printed out of thin air and then used to pump BTC. BTC was hijacked by Blocksteam and is controlled by them. It is a crippled system, has no use case, and has no value. It is the greatest Ponzi scheme ever devised. The only coin that has value and usefulness is Bitcoin SV (BSV). It is the coin that adheres to the original Whitepaper.
Bitcoin SV?? LOL. Cmon dude, you've never held any crypto in your life. Bitcoin SV is even inferior to Bitcoin Cash.
Get outta here with that shit.
I think about it this way. Any currency such as Fiat will always have the risk of being manipulated. The "new world order" expresses so much HATE for crypto because it's impossible to control.
Two things can be true at the same time.
Corruptocrats can hate the prospect of losing control over fiat currencies, and “cryptocurrencies” can (are, in their current incarnation) fundamentally worthless, with early entrants turning paper gains into real hard assets funded entirely by later entrants. You know this, right? There is no legitimate math that can indicate anything else. Talking about the transformative wonders of blockchain technology (which I truly have nothing against) won’t repeal basic math, ever.