this post was submitted on 08 Apr 2024
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Bωockchain
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bwockchain is not a technology of the future, buttcoin is a scam.
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I think crypto is dumb as hell but by this logic, how are any speculative assets not Ponzi schemes then? I’d argue that by definition, it’s not a ponzi. How could it be? What entity is controlling and organizing the flow of money in such a way that investors are repaid FIFO? Not only that but there’s zero guarantee based on position in line that you’ll make any amount of money relative to that position — a guarantee you’d likely have in most Ponzi schemes.
Idk. There are a lot of reasons to hate blockchains and bitcoin but trying to label it as something is fundamentally is not seems counterproductive and disingenuous.
Yep. While I'm also no fan of cryptocurrencies, calling them Ponzis is just silly. People love repeating these slogans without actually understanding what they mean
Less ponzi and more hot potato. Right now, the potato is piping hot, so a lot of people are pumping up because HOLY SHIT 71k DOLLARS!!! YOU SHOUD BUY NAO BECAUSE IT'S ONLY GOIN UUUUUUPPPPPP
A crash is inevitable, a bunch of whales are just biding their time and nobody knows the next floor price
You've just described the stock market and capitalism in general. Ironically a digital curency is one of the few places where unlimited growth is actually possible. Not that BTC is a good idea of course.