Quoted post unavailable.
But enough about the U.S. Federal Reserve.
The entire crypto ecosystem is a ponzi
21–30 of 268 posts
Re: The entire crypto ecosystem is a ponzi
#22Quoted post unavailable.
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Re: The entire crypto ecosystem is a ponzi
#23Quoted post unavailable.
I don’t think that is true at all. There is economic value in a piece of equity in google. The price someone is willing to pay for it changes frequently. Crypto is closer to art than anything else. I get less value from a rothko than someone else may
> There is economic value in a piece of equity in google.
It doesn't entitle you to profits, it doesn't entitle you to assets (except in bankruptcy), you can't eat it, and it's only worth what other people will pay you for it. Unlike a rothko, I can't hang it in my living room. Where's the value?
Re: The entire crypto ecosystem is a ponzi
#24Crypto recreates everything Bitcoin was supposed to prevent. 1. Tether: infinite money printer central bank 2. Exchanges: banks 3. Binance: too big to fail 4. BSC shitcoins: fully centralized currency
Yes. Also Bitcon =/= Crypto.
Re: The entire crypto ecosystem is a ponzi
#25Earlier quoted context omitted.
This. Today's stock market bears little relation to "a thing where you can buy shares of a company, and if it does well you can get paid by selling it."
That is simply not true at all. Most stock prices are based upon earning or future potential earnings.
lol
Re: The entire crypto ecosystem is a ponzi
#26Quoted post unavailable.
This. Today's stock market bears little relation to "a thing where you can buy shares of a company, and if it does well you can get paid by selling it."
> This. Today's stock market bears little relation to "a thing where you can buy shares of a company, and if it does well you can get paid by selling it."
So speculation? Seems like that is the primary way it works today. Also, dividends represent a major source of market returns. Some searching suggests as much as 30%.
Re: The entire crypto ecosystem is a ponzi
#27Quoted post unavailable.
I don’t think that is true at all. There is economic value in a piece of equity in google. The price someone is willing to pay for it changes frequently. Crypto is closer to art than anything else. I get less value from a rothko than someone else may
There is economic value in inflation resistance, censorship resistance, and privacy. The fact most get-rich-traders do not care about these things and -also- speculate is irrelevant to the fundamental value.
Re: The entire crypto ecosystem is a ponzi
#28Quoted post unavailable.
I don’t think that is true at all. There is economic value in a piece of equity in google. The price someone is willing to pay for it changes frequently. Crypto is closer to art than anything else. I get less value from a rothko than someone else may
Interesting analogy. It is true that much, if not most, high end art is purchased as a speculative investment, just like crypto.
Re: The entire crypto ecosystem is a ponzi
#29Quoted post unavailable.
This is one of those distraction comments that really adds nothing to the discussion. The article has real points about how crypto is deeply seeded with ponzi schemes all over and the entire currency in fact looks like a ponzi scheme, and the response is just "yeah but sometimes other things are kinda ponzi schemes".
Yes, the stock/bond markets resemble ponzi schemes particularly for certain securities (cough Uber cough), but the existence of other things being sorta ponzi schemes doesn't remove or forgive all the evidence of deep-seeded ponzi schemes throughout the crypto ecosystem.
Re: The entire crypto ecosystem is a ponzi
#30As a lay person who hasn't followed cryptocurrencies since Bitcoin was invented, could someone help correct my understanding of how modern ones work?
It seems like owning a crypto token in a blockchain is conceptually the same as owning a share in a company. You purchase or mine a voting stake in that blockchain, correct? And the process by which new tokens can be minted is laid out ahead of time, like a gradual continuous stock split.
Are there fundamental differences that I'm missing, or has the genius of crypto been to put enough window dressing around the idea to avoid being regulated as a stock market or traditional corporate entity?