/biz/ - Business & Finance

Although you idiots won't respond with any counterarguments as usual and will call me a nocoiner (talking to the bulls, not the lovely bears on here), I'll still explain why this is a ponzi first. This has no fundamental value. I believed in this shit and bought since 2013 but in a free unregulated market, this will always be volatile, hence removing the only use case it had: sending money without a middleman. It became obvious that people will always want to profit off this shit (back into fiat) hence making this useless. Noone will want to spend something in which the price will go up or down quickly. Volatility NEVER decreases in a free, unregulated market. Now, if it becomes regulated, then sure, but then it's just like any other asset, and is again, useless since it doesn't improve the status quo (since securities already exist). I've literally never seen proper counter arguments to these in the history of biz. I'm pretty sure everyone knows it's true, but just doesn't want to admit it due to their hopes of this ponzi continuing.

Now, back to the main point of this post.


Rule 1. In a ponzi scheme, you buy early, wait for the suckers to keep buying, and sell at the peak when everyone knows about it. It doesn't fucking matter if everyone hasn't bought it yet. What matters is HYPE since it's completely based on speculation. Hype is based on KNOWLEDGE, not actual participation. The reason why the bull run continued before was because people were just finding out about bitcoin at the beginning. Therefore, the hype is over, and just like anything that is based on hype, once it reaches its peak, it's over.