Crypto currency (IF banned from CA)

[JimmyJeffers]

No and no.

DMT

 

[DuuuncanHadaPigeon]

And thats why its the greatest ponzi scheme in the world.

Then you don't know what a ponzi is. In a ponzi scheme you have someone at the top, paying old investors with new money until it dries up and all goes bust.

I will agree most crypto exchanges are ponzis, as you are seeing with FTX right now but you can't say BTC is.

As much as I dislike BTC, it just isn't a ponzi. It is just a highly volatile asset, there is no central BTC entity paying old people with new money, the creator Satoshi has never sold a single BTC (he is likely dead)

All profits in the stock market (aside from dividends which accounts for a small portion) come from speculation, you buy apple stock because you hope in the future you can sell it to someone else for a higher price, just like bitcoin.

 

[DuuuncanHadaPigeon]

Hi guys as part of the GOT due diligence team I have to audit everyone who posted in the last five pages.

Can you please answer these questions:

Have you ever voted Tory?
Was you ever pro Brexit.

Please let me know and tag in anyone else who’s voted last five pages to make sure they see this and can complete the audit too.

Thank you.

GOT DDT.

take your cult questionnaires elsewhere good sir

 

[Moomin]

The thing is, it's not even that far fetched. If you bought BTC 10 years ago you would have made something silly like 2,000,000 x your money.

Also how is our currency currently created? it is minted out of thin air on a computer screen.

Markets go through cycles, cryptos are much more volatile and so 80-90% dips are par for the course, it is how you have thousands of % returns.

99% of the coins from this cycle will tend to zero forever, just like last cycle and the cycle before. Some will remain and when the market recovers those who buy bottoms and sell tops will make a fortune.

Reminder, I called it in this thread when BTC was near enough the top and have come very close to calling the bottom.

Let's not forget, this past year the FAANG companies have lost about 3 trillion dollars in value, everything is rekt right now.

Ponzi schemes made money for the people at the start, then everyone wants in but its not feasible.

The money created by banks is not just done like Crypto money out of thin air. The money they create will be based on capital they own.

Unfortunately, people are driven by greed and love a get rich scheme. People jump on the band wagon put laser eyes on there twitter profile and buy into gimpcoin or whatever new crypto thinking they will get a 500% return after a few weeks and buy a house.

If people stopped and thinked about it, how in the hell are about 100 million laser eyed freaks going to turn there 1k of money into 150k of money in the space of a few months.

BUT BUT BUT look at the people who made millions from Bitcoin , HEX etc etc etc

Just look at your spam folder in your personal emails , its full of crypto garbage about making money. Google is planted with fake stories about a new crypto and people buy into the dream and the web of gullible people grows and grows.

The success stories have been amplified while the people who have lost there savings goes into the abyss or they are too embarassed to say anything.

It's like a religious cult now, different factions of young adults with different coloured laser eyes saying my imaginary currency/god is better than your one.

What makes it more sadder for them is now there defence and love for the Uber gimp Elon Musk.



Reality is, you have to work for your money. Create a new business or service to earn your rewards, the " buy the dip " is not an original idea and I'm pretty sure its not going to work for a few million incels at the same time.

 

[Moomin]

Please complete the audit.

No x 2

 

[chicoazul]

take your cult questionnaires elsewhere good sir

This means at least one yes. Interesting.

 

[verreauxi]

Can you please answer these questions:

Have you ever voted Tory?
Was you ever pro Brexit.

Yes and yes. It was remarkably easy. I flew over to London Gatwick, took the overground to Sutton Borough, walked up to the polling station and said, "my name is Billy McTavish and I'm angry as fok" They said, "welcome sir, please cast a ballot." Then I flew back to the USA.

 

[Goat]

Then you don't know what a ponzi is. In a ponzi scheme you have someone at the top, paying old investors with new money until it dries up and all goes bust.

I will agree most crypto exchanges are ponzis, as you are seeing with FTX right now but you can't say BTC is.

As much as I dislike BTC, it just isn't a ponzi. It is just a highly volatile asset, there is no central BTC entity paying old people with new money, the creator Satoshi has never sold a single BTC (he is likely dead)

All profits in the stock market (aside from dividends which accounts for a small portion) come from speculation, you buy apple stock because you hope in the future you can sell it to someone else for a higher price, just like bitcoin.

Stupid people put money in the bottom, so the less stupid people can cream the profits from the top.

Its a classic Ponzi scheme that hides behind clever sounding words.

 

[chicoazul]

Yes and yes. It was remarkably easy. I flew over to London Gatwick, took the overground to Sutton Borough, walked up to the polling station and said, "my name is Billy McTavish and I'm angry as fok" They said, "welcome sir, please cast a ballot." Then I flew back to the USA.

I hope everyone is as brave as this gentleman. Full disclosure please or we judge you in absence tomorrow.

 

[Moomin]

Then you don't know what a ponzi is. In a ponzi scheme you have someone at the top, paying old investors with new money until it dries up and all goes bust.

I will agree most crypto exchanges are ponzis, as you are seeing with FTX right now but you can't say BTC is.

As much as I dislike BTC, it just isn't a ponzi. It is just a highly volatile asset, there is no central BTC entity paying old people with new money, the creator Satoshi has never sold a single BTC (he is likely dead)

All profits in the stock market (aside from dividends which accounts for a small portion) come from speculation, you buy apple stock because you hope in the future you can sell it to someone else for a higher price, just like bitcoin.

Bitcoin makes sense. It has a set amount.

Some of these new ones who come on the market and suddenly can inject a few buyers ( probably themselves ) and create a surge in the price so everyone likes lemmings does the same thinking its the new Bitcoin and will become instantly rich.

You mention Apple, they sell a service and product. Plus you will if they are doing well get a dividend each year. The hope is as you say to sell at a later stage to make a profit. You can also go on there website and they will have a section for investors with sets of figures which will be audited by the likes of PWC.

Can you do that with all of these crypto companies? I doubt it.

I have a few gambles on the go with shares in a few life sciences companies. Depending on FDA approval they can reap rewards or I lose money.

 

[DuuuncanHadaPigeon]

Ponzi schemes made money for the people at the start, then everyone wants in but its not feasible.

The money created by banks is not just done like Crypto money out of thin air. The money they create will be based on capital they own.

Unfortunately, people are driven by greed and love a get rich scheme. People jump on the band wagon put laser eyes on there twitter profile and buy into gimpcoin or whatever new crypto thinking they will get a 500% return after a few weeks and buy a house.

If people stopped and thinked about it, how in the hell are about 100 million laser eyed freaks going to turn there 1k of money into 150k of money in the space of a few months.

BUT BUT BUT look at the people who made millions from Bitcoin , HEX etc etc etc

Just look at your spam folder in your personal emails , its full of crypto garbage about making money. Google is planted with fake stories about a new crypto and people buy into the dream and the web of gullible people grows and grows.

The success stories have been amplified while the people who have lost there savings goes into the abyss or they are too embarassed to say anything.

It's like a religious cult now, different factions of young adults with different coloured laser eyes saying my imaginary currency/god is better than your one.

What makes it more sadder for them is now there defence and love for the Uber gimp Elon Musk.

View attachment 190400

Reality is, you have to work for your money. Create a new business or service to earn your rewards, the " buy the dip " is not an original idea and I'm pretty sure its not going to work for a few million incels at the same time.

Who is paying the old investors with new investors money in BTC? Satoshi?

Yes banks will use our money as collateral to lend money from central banks (that they print from thin air) our deposits are on the liability side of the sheet.

Yes there are scams in crypto, yes most coins are useless, yes a lot of people fall for get rich quick schemes. Stop pretending this is solely a crypto thing, the Nigerian prince was around a long time before BTC.

 

[DuuuncanHadaPigeon]

Bitcoin makes sense. It has a set amount.

Some of these new ones who come on the market and suddenly can inject a few buyers ( probably themselves ) and create a surge in the price so everyone likes lemmings does the same thinking its the new Bitcoin and will become instantly rich.

You mention Apple, they sell a service and product. Plus you will if they are doing well get a dividend each year. The hope is as you say to sell at a later stage to make a profit. You can also go on there website and they will have a section for investors with sets of figures which will be audited by the likes of PWC.

Can you do that with all of these crypto companies? I doubt it.

I have a few gambles on the go with shares in a few life sciences companies. Depending on FDA approval they can reap rewards or I lose money.

You know what doesn't have a set amount? Our money supply, funny that.

Also funny thing is people think they understand bitcoin, it is a social consensus if the miners decide there will be more than the set amount then there will be.

Apple can make what they like, but the vast amount of price appreciation comes from speculation, not from how many iPhones they sell. They could sell a trillion if no one buys or sells price stays the same.

 

[Moomin]

You know what doesn't have a set amount? Our money supply, funny that.

Also funny thing is people think they understand bitcoin, it is a social consensus if the miners decide there will be more than the set amount then there will be.

Apple can make what they like, but the vast amount of price appreciation comes from speculation, not from how many iPhones they sell. They could sell a trillion if no one buys or sells price stays the same.

You really haven't thought this through.

If they sold them phones at a profit they would have a massive bank balance which investors love.

A new Crypto currency doesn't really offer me a product or a service it will only make me a profit if more people buy into it causing the price to increase ergo a ponzi scheme.

 

[mmmmsnouts]

Once they started advertising everywhere and sponsoring everything they could find you knew they were desperate for new suckers

 

[chicoazul]

Audit questionnaire please.