[ALERT] butcoin will crash to 30k and more. CHECK WHY!!!!!!
i've seen thousands of retails coming into the market these days thinking they gonna be rich quick without effort. im not here to be a killjoy, just to put things into context and maybe bring back some people to reality.
Check my response who destroy the integrality of the false narrative which is bring by some crypto salesman.
1) "Bitcoin is the currency of the future gneugneu" your ponzi it pretends to be a currency whereas people don't use it to buy. 99% of btc transactions are for human trafficking, drugs, terrorism, pedophilia, etc. the remaining 1% is donations. in addition to a currency ca has a legal definition, it must be formalized by a state, outside no etatic organisation approves cryptocurrencies officialy as a way to transact. and also there is almost no company accepting it apart from your mythomaniac and opportunist guru who dumps you his bags, I named Elon Musk.
2)bitcoin is decentralised" it claims to be decentralized while 87% of the supply is in the hands of 0.001% of the wallets, which would ensure a distribution of wealth worthy of the holodomor./stalinian regime moreover, it is dependent on the quantitative easing policy exercised by the Federal Reserve because it turns out that cryptos are positively correlated at 95% with the stock market. so it is fact proven that this unregulated ponzi is totally centralised
How does it feel to know that the system you criticize so much redistributes wealth better than your shit?
3)"its a safe heaven" it claims to be able to play the role of a "sure value" while its price is so volatile that you can lose 30% of the value in the same day you bought. also meanwhile not having intrasecal value except the speculational value, in other terms it only have the value that you are willing to pay for it but at the end it worth 0
4)"gneugneu its not a ponzi bra" it pretends not to be a ponzi when it produces no wealth (no turnover). the only use of this shit is vacuum speculation, people buy just so they can sell it for a higher price which is the main characteristic of a ponzi scheme. you heard right, those who bought before get fat purely and simply on the backs of newcomers (that's why people market it, it's called having a conflict of interest. don't give a shit if you end up under a bridge because you went in to redeem their bag of virtual custard) without producing anything beneficial to society. the intrinsic value of this BDD called "crypto currency" is unofficially 0, it's just worth the price you're willing to pay for your moron opium which makes you believe that you will be rich without doing anything, so that you end up by wanting to find other pigeons who will want your shit
5)"we dont need regulation we are anti-system bra" we will cut short for the legal protection part, there is none. So there is no guarantee that you will ever get your money back one day except for the fact that new pigeons are arriving to buy your useless crap at a high price. until the court collapses because of lack of liquidity or destroyed by whales greedy for wealth
6)"gneugneu we win money, you missed the train" the moral side we also pass is summarized above: illegal activities, search for greedy materialism effortlessly and quickly (it's called being a lazy and greedy pigeon), etc. there is many ways to win money, like working for exemple.
7) "you salty bra, institutions are entering bra" Some of those institutions may be in fact expecting to make a profit, but understandably their managers do not want to admit that they are gambling with the company's funds -- and do not want to be blamed if they lose money on that bet. (And some of these managers may well be aware that it is a ponzi scheme, but believe that, by cashing out at the right time, they can collect many millions of dollars from the faithful bitcoiners who have been putting more than 10 million USD/day into the game, rain or sunshine.) A few other big investors may be doing it for ideological reasons. And some CEOs may have found ways to personally profit from company purchases.
It should also be noted that many of the "big investors" cited by promoters are in fact bitcoin-based funds that, like Grayscale's GBTC, buy bitcoins with their clients money, not with their own; and therefore will make a profit from service and maintenance fees, no matter what will happen to the price. Once those funds are excluded, the number of "institutional" investors remains quite small.
It is hard to believe the "hedge" excuse, because such purpose requires an asset that is expected to at least retain most of its value in the short term, and whose volatility is low enough. Adding to one's portfolio any amount of an "asset" that is losing the money put into it at the rate of 10 billion USD per year, and has the highest volatility ever seen, will only increase its risk, not reduce it.
8) "its ecological-friendly bra", actually it is estimated that the total of miners worldwide consume the same amount of electricity than a country like switzerland, imagine it in 20 years. it is not sustainable and destroying the environment
9) " it has recovered after each crash" Once more, that feature of past ponzis -- their ending with an abrupt, total, and permanent crash -- was a consequence of their particular features, not of the properties that made them fraudulent investments. Schemes that depended on a blatant lie, like Ponzi's or Madoff's, would crash abruptly when that lie was exposed; which usually happened when an excess of withdrawals over new investments made it impossible to honor the former. Once the truth got revealed, and confirmed by arrest of the operators, there was no further investment, and all investors demanded their money back.
However, as explained above, crypto ponzis sustain their expectation of profitability by technical and economic obfuscation, and claims about an indefinite future, rather than by a single and simple lie that implies constant income. Thus, even when new investments -- and consequently the immediate "payoffs" -- drop by 80% or more, as happened to BTC between 2017-12 and 2018-12, there will be a band of faithful investors who will continue to put all their spare money into the game, firmly believing that the price will "eventually" rise again and "go to the moon". And this money will be enough to keep the blockchain alive, even if with a lower hashrate. That is why even the most obviously broken cryptocurrencies can survive multiple crashes and years of dropping prices, and only die if and when the price finally reaches zero.
a response in advance to my detractors in the comment who will come and will sweat hate: vocaroo.com/1j1SJbFYArrF
Check my response who destroy the integrality of the false narrative which is bring by some crypto salesman.
1) "Bitcoin is the currency of the future gneugneu" your ponzi it pretends to be a currency whereas people don't use it to buy. 99% of btc transactions are for human trafficking, drugs, terrorism, pedophilia, etc. the remaining 1% is donations. in addition to a currency ca has a legal definition, it must be formalized by a state, outside no etatic organisation approves cryptocurrencies officialy as a way to transact. and also there is almost no company accepting it apart from your mythomaniac and opportunist guru who dumps you his bags, I named Elon Musk.
2)bitcoin is decentralised" it claims to be decentralized while 87% of the supply is in the hands of 0.001% of the wallets, which would ensure a distribution of wealth worthy of the holodomor./stalinian regime moreover, it is dependent on the quantitative easing policy exercised by the Federal Reserve because it turns out that cryptos are positively correlated at 95% with the stock market. so it is fact proven that this unregulated ponzi is totally centralised
How does it feel to know that the system you criticize so much redistributes wealth better than your shit?
3)"its a safe heaven" it claims to be able to play the role of a "sure value" while its price is so volatile that you can lose 30% of the value in the same day you bought. also meanwhile not having intrasecal value except the speculational value, in other terms it only have the value that you are willing to pay for it but at the end it worth 0
4)"gneugneu its not a ponzi bra" it pretends not to be a ponzi when it produces no wealth (no turnover). the only use of this shit is vacuum speculation, people buy just so they can sell it for a higher price which is the main characteristic of a ponzi scheme. you heard right, those who bought before get fat purely and simply on the backs of newcomers (that's why people market it, it's called having a conflict of interest. don't give a shit if you end up under a bridge because you went in to redeem their bag of virtual custard) without producing anything beneficial to society. the intrinsic value of this BDD called "crypto currency" is unofficially 0, it's just worth the price you're willing to pay for your moron opium which makes you believe that you will be rich without doing anything, so that you end up by wanting to find other pigeons who will want your shit
5)"we dont need regulation we are anti-system bra" we will cut short for the legal protection part, there is none. So there is no guarantee that you will ever get your money back one day except for the fact that new pigeons are arriving to buy your useless crap at a high price. until the court collapses because of lack of liquidity or destroyed by whales greedy for wealth
6)"gneugneu we win money, you missed the train" the moral side we also pass is summarized above: illegal activities, search for greedy materialism effortlessly and quickly (it's called being a lazy and greedy pigeon), etc. there is many ways to win money, like working for exemple.
7) "you salty bra, institutions are entering bra" Some of those institutions may be in fact expecting to make a profit, but understandably their managers do not want to admit that they are gambling with the company's funds -- and do not want to be blamed if they lose money on that bet. (And some of these managers may well be aware that it is a ponzi scheme, but believe that, by cashing out at the right time, they can collect many millions of dollars from the faithful bitcoiners who have been putting more than 10 million USD/day into the game, rain or sunshine.) A few other big investors may be doing it for ideological reasons. And some CEOs may have found ways to personally profit from company purchases.
It should also be noted that many of the "big investors" cited by promoters are in fact bitcoin-based funds that, like Grayscale's GBTC, buy bitcoins with their clients money, not with their own; and therefore will make a profit from service and maintenance fees, no matter what will happen to the price. Once those funds are excluded, the number of "institutional" investors remains quite small.
It is hard to believe the "hedge" excuse, because such purpose requires an asset that is expected to at least retain most of its value in the short term, and whose volatility is low enough. Adding to one's portfolio any amount of an "asset" that is losing the money put into it at the rate of 10 billion USD per year, and has the highest volatility ever seen, will only increase its risk, not reduce it.
8) "its ecological-friendly bra", actually it is estimated that the total of miners worldwide consume the same amount of electricity than a country like switzerland, imagine it in 20 years. it is not sustainable and destroying the environment
9) " it has recovered after each crash" Once more, that feature of past ponzis -- their ending with an abrupt, total, and permanent crash -- was a consequence of their particular features, not of the properties that made them fraudulent investments. Schemes that depended on a blatant lie, like Ponzi's or Madoff's, would crash abruptly when that lie was exposed; which usually happened when an excess of withdrawals over new investments made it impossible to honor the former. Once the truth got revealed, and confirmed by arrest of the operators, there was no further investment, and all investors demanded their money back.
However, as explained above, crypto ponzis sustain their expectation of profitability by technical and economic obfuscation, and claims about an indefinite future, rather than by a single and simple lie that implies constant income. Thus, even when new investments -- and consequently the immediate "payoffs" -- drop by 80% or more, as happened to BTC between 2017-12 and 2018-12, there will be a band of faithful investors who will continue to put all their spare money into the game, firmly believing that the price will "eventually" rise again and "go to the moon". And this money will be enough to keep the blockchain alive, even if with a lower hashrate. That is why even the most obviously broken cryptocurrencies can survive multiple crashes and years of dropping prices, and only die if and when the price finally reaches zero.
a response in advance to my detractors in the comment who will come and will sweat hate: vocaroo.com/1j1SJbFYArrF
Comment:
if you have other questions/false rhetorical about this ponzi, ill be glad to respond to it
dont spread autism in the comments (using ad hominem fallacies to avoid the debate or classical discourse like : gneugneu train is gone, gneugneu stay poor we rich, etc)
dont spread autism in the comments (using ad hominem fallacies to avoid the debate or classical discourse like : gneugneu train is gone, gneugneu stay poor we rich, etc)
A Ponzi scheme, or "ponzi" for short, is a type of investment fraud with these five features:
-People invest into it because they expect good profits, and
-That expectation is sustained by such profits being paid to those who choose to cash out. However,
-There is no external source of revenue for those payoffs. Instead,
-the payoffs come entirely from new investment money, while
-the operators take away a large portion of this money.
Investing in bitcoin (or any crypto with similar protocol) checks all these items. The investors are all those who have bought or will buy bitcoins; they invest by buying bitcoins, and cash out by selling them. The operators are the miners, who take money out of the scheme when they sell their mined coins to the investors.
Features 3, 4, and 5 imply that investing in bitcoin, like "investing" in lottery tickets, is a very negative-sum game. Namely, at any time, the total amount that all investors have taken out is considerably less than what they have put into the scheme; the difference being the amount that the operators have taken out. Thus the investors, as a whole, are always in the red, and their collective loss only increases with time.
The expected profit from investing in such a scheme is negative. While some investors who cash out may make a profit, that comes at the expense of other investors, who will lose more than their "fair" share of the general loss above.
Features 1 and 2 make the scheme a fraud, rather than simply a bad investment (or bad "musical chairs" gambling game). As a minimum, the operators should warn investors of the negative-sum character and negative expected profit. In the case of bitcoin (and all other cryptos), not only that does not happen, but there are thousands of promoters and "investment experts" who predict impressive price increases and/or claim that bitcoin will have massive uses in the future that would somehow make it valuable. Apart from the mendacity of those claims, those promoters never point out that such massive uses would not translate into revenue for the investors.
The observation that investing in cryptocurrencies is a ponzi scheme is not new or a cheap shot. Among many others, it was expressed in 2014 by economists Nouriel Roubini of NYU and Kaushik Basu of the World Bank (WB) and echoed by investment analyst David Webb in 2017 and by WB's president Jim Yomh Kim in 2018 .