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.
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.
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 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.