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Thread: Is Bitcoin an imploding ponzi??...

  1. #51
    Join Date
    Jun 2013
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    Re: Is Bitcoin an imploding ponzi??...

    Here are some resources with no referrals that I regularly use

    Charts and other technical info



    To check something if seems dodgy

    Mining profitability and such

    If you guys decide to trade well I trade too with more or less success. Don't use leverage and try not to lose everything. Find info about exchanges on the forum, don't hold all eggs in one basket and learn to use and move every currency.
    I use exchanges like kucoin, bittrex, cryptopia and yobit, however my holdings on yobit are very tiny. I obviously don't hold everyhing in exchange wallets. Only what I use to trade.

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  3. #52
    Join Date
    Feb 2013
    Internet Cafe Nigeria
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    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by cloudchecker View Post

    Fiat is debt based currency. That's why inflation -and hyperinflation- exists because the printed money is borrowed from the issuing bank at interest, using the existing money supply as collateral.
    Not entirely, governments have the ability to tax and often own assets. Even in places where hyperinflation has occurred few escaped the wrath by holding the right assets, most have no money at all including in the US. Russia defaulted on it's debt in 1998 and for all intents and purposes not much changed, things soon when back to normal. Can you show an industrialized or emerging nation where hyperinflation never ended?

    It takes more dollars to buy an equal item today than it did 100 years ago, but most of us are paid more dollars. History has shown the best way to counteract this is to hold assets that throw off cash flow. Holding metals for years on end has cost people in both real and opportunity metrics. Why will crypto be any different?

    Quote Originally Posted by cloudchecker View Post
    Bitcoin is just software and it has a hard cap on the supply.
    It has a limited supply backed by nothing more than the next purchaser willing to pay something over what the last guy paid. As a means of exchange with few exceptions it is a throwback to 1907.

    Quote Originally Posted by cloudchecker View Post
    Right now you can find students in pretty much every classroom who own crypto.
    I wouldn't base my future on kids just out of puberty.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff

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