61–70 of 131 posts
Earlier quoted context omitted.
hey that's not fair... it's a pyramid scheme, not a ponzi
It's neither of these things.
Earlier quoted context omitted.
I don't think you need the "...", usually that indicates a mysterious step will never actually materialize. But the Profit cycle is fully complete here.
http://knowyourmeme.com/memes/profit?full=1
Earlier quoted context omitted.
hey that's not fair... it's a pyramid scheme, not a ponzi
It's neither of these things.
> "The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that." I don't think he means bitcoin in particular, it could be any crypto currency. Bitcoin is still a ponzi scheme in bubble phase.
hey that's not fair... it's a pyramid scheme, not a ponzi
Who's behind the sceme? And if you say Satoshi, you should think about what stocks are.
I'm here for the shit posting.
Earlier quoted context omitted.
Nope. Bitcoin's network is not scaling well.
What on earth does that mean
Another example is that the electricity cost to run the system is going up at an unsustainable pace. Eventually they'll have to switch to an new way to propagate the blockchain something other than Proof of Work mining.
Most likely though, these problems will be solved with some kind of hard fork rather than BTC dying.
Earlier quoted context omitted.
The point of crypto is making these figures irrelevant.
...and replacing them with cryptocurrency CEOs and HN and Reddit commenters whose economic experience is limited to googling the word “fiat” and talking points on free markets? Is that what you mean? Occasionally people are listened to because they have something to offer, like, say, running one of the world’s largest investment banks. His remarks immediately made Bloomberg, CNBC, and so on, which is just free PR. Fr…
Earlier quoted context omitted.
The entire profit motive from Bitcoin "investing" comes from selling it to another human for more than you bought it for. They're digital Beanie Babies. Real investments have a return derived from capital. A house, for example, can be rented out for money. Or a business can earn profit and distribute it to its shareholders. You can try to buy and sell houses like people did during the RE bubble for profit, or try to…
> Real investments have a return derived from capital. A house, for example, can be rented out for money. You can buy goods and services with Bitcoin. It's just another currency. Do people claim that forex is not investing?
Earlier quoted context omitted.
The entire profit motive from Bitcoin "investing" comes from selling it to another human for more than you bought it for. They're digital Beanie Babies. Real investments have a return derived from capital. A house, for example, can be rented out for money. Or a business can earn profit and distribute it to its shareholders. You can try to buy and sell houses like people did during the RE bubble for profit, or try to…
> Real investments have a return derived from capital. A house, for example, can be rented out for money. You can buy goods and services with Bitcoin. It's just another currency. Do people claim that forex is not investing?
Yes, all the time. It's clearly speculation (in the technical sense)