Well yes. And it’s not even subtle in the case of cryptocurrencies.
All the “crypto billionaires” and centi-millionaires you might’ve read about? Where did all their newfound real assets (huge homes, yachts, planes, cars... gold??) come from? Bitcoin itself is patently not an enterprise that creates value (it’s an intermediary currency with zero intrinsic value, and one which actually destroys value with that energy intensive “mining”).
Every last penny these shysters have pulled out of Bitcoin and the like has been funded by new entrants (“greater fools”) putting real assets into the system. Cryptocurrencies are nothing more than a pyramid scheme, enriching those in early, impoverishing those in late. At some point, history always proves, there won’t be even one more greater fool. And then, at the very moment the crypto billionaires are holding prostitutes on each tourbillon-decorated arm, everyone else will be holding a worthless dream of free money.
If you sit down at a poker table and don’t immediately know who the sucker is... it’s you.
Well yes. And it’s not even subtle in the case of cryptocurrencies.
All the “crypto billionaires” and centi-millionaires you might’ve read about? Where did all their newfound real assets (huge homes, yachts, planes, cars... gold??) come from? Bitcoin itself is patently not an enterprise that creates value (it’s an intermediary currency with zero intrinsic value, and one which actually destroys value with that energy intensive “mining”).
Every last penny these shysters have pulled out of Bitcoin and the like has been funded by new entrants (“greater fools”) putting real assets into the system. Cryptocurrencies are nothing more than a pyramid scheme, enriching those in early, impoverishing those in late. At some point, history always proves, there won’t be even one more greater fool. And then, at the very moment the crypto billionaires are holding prostitutes on each tourbillon-decorated arm, everyone else will be holding a worthless dream of free money.
If you sit down at a poker table and don’t immediately know who the sucker is... it’s you.
Precious metals, though? ?