We can only be crypto-rich as long as nobody tries to sell their crypto for real money.
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Hmmm, more news from Vosk.
You can find out how it works right now if you download the source code and analyse it as I said about an hour ago in a post that you probably didn’t read.
It seems you don’t know what source code is, if you did you would understand that people would easily be able to work out if it’s a scam/ponzi by looking at it.
“Source code is the source of a computer program . It contains declarations, instructions, functions, loops and other statements, which act as instructions for the program on how to function.”
The method doesnt cause the value to rise tho, doesnt pin any value to it. Its really, truly worthless. Even when some people pay a lot for it, they just pay whole too much…
Hmmm, it seems the creator seems to be interested in the transaction and making it secure, as a secondary function he also limited the amount that the program would ever create.
non sequitur.
Again.
You are pretending that bitcoin is only source code.
fact : it’s not.
Yeah I know, facts are hard for you to handle. Reality hurts, but it hurts you the most.
Why would ever someone do this, knowing it will be without any value.
Then people argue that its a digital gold, while its only digital digits.
That is suspicious. Everyone saying that it have some value outside of securing transactions would probably want it to have some value to him, so he can sell it to you for some price.
Yes, I think it has value because of it’s function, I also think the for a very long time we have been seeing the fake value.
What I mean is the value we have seen for the last few years is one which was manufactured by salesmen and investment firms. They were in fact the ones who paid the youtube guys to talk about buying BTC, they paid for adverts for crypto exchanges claiming “BTC is a great investment that will double your money” when in reality it is a tool used for privacy so really only people who want privacy should be using it, if this was the case BTC would have a more humble value maybe not more than £1000.
In reality we have millions of people who are interested in profit holding BTC which will make the price “appear” realistic. What’s happening is an investor is buying the BTC in preparation for when the demand for privacy gets higher.
So here is my overall view: We will only ever see the real value of BTC when it is exclusively people who want privacy buying and USING (not selling for profit) it, I think i’ve hit the nail on the head here, what do you guys think?
So it is my absolute belief that BTC itself isn’t a scam, only the fact that the absolute wrong people are abusing it.
Fun fact: gold is pretty much useless. It’s use case is about as weak as the case for Bitcoin.
I think you’ve confused something here, ultimately the way people have hyped up the value and bitcoin itself as privacy and money transfer tool are two complete different things. I’m really not sure what you think an organised system can ever amount to other than an organised system.
You’ll get my full agreement if you’re trying to say people were conned into buying a lot of BTC, and I already said the value of a BTC should be linked only to people who exclusively use it to transfer value and as a privacy tool, I would be very interested to see how many people in the world actually use BTC not for invest/profit but for transfer/privacy only. I would very much welcome such a BTC price as I am a realistic person and never want to be tricked into believing falsehood.
So to be crystal clear, lets say for example all investment companies sold BTC back to exchanges I am talking every investor in the whole wide world sold their BTC back to exchanges and then we only had say 50,000 people using it for it’s privacy/transfer features and it’s value reflected that, then that is the value I would accept.
Don’t get me wrong we could get to a time where 1 billion people are actively using it, not for investment or holding or profit, but just for privacy/transfer features then I would accept this value, What I am kind of realising is that this might take a good 40 or 50 years.
Can we at least agree that if a service is used exactly as it’s supposed to we will see the real value of it? You must see that we have been lied to or we haven’t done our due diligence.
TLDR:
- ■■■■ the greedy investor the BTC value you see right now is fake < fact
- lets have a look at the real value for exclusive privacy/transfer use only
The current value is fake, I know my opinion has wildly changed but I only speak truth. It’s an inflated value because investors are still trying to trick you, so in one sense yes BTC is being used for a ponzi scheme, but to say BTC is a ponzi scheme is going too far.
I think the key to avoiding trickery is to simply understand. Sorry if I haven’t been clear on my points or if I’ve misunderstood but I think I arrived at my conclusion.
Speaking honestly again, I think most people are happy with retailers and any organisation in the 3rd party chain knowing their details, My details are pretty secure with them and I’ve not had a complaint, obviously society could descend into nasty horrible privacy infringing place at any moment but I think were okay for now.
The market for digital transaction privacy/money transfer tools is certainly an interesting one, I’m just not sure it’s a good investment for the short term. maybe some sort of business where people need your services regularly would be better
I think it have function, not value. Function you can describe, value is something artificial. You dont need value for it to function. Its like a contract function in EVE online for me essentially. You can give someone 1 ISK with it, but it doesnt mean the function is worth 1 ISK.
I hope all these exchanges will fall like dominos and the ignorant people will learn their lessons, and will start listening at last.
Yes, I’m starting to agree with you now. it’s value should be whatever the usage is for exclusive privacy and transfer.
Now when I think about it, it’s terrible that millions upon million once owned BTC purely for profit gain and nothing else.
Looking back on my comments about El-salvador I think I may have been wrong to support it, When you check it they want to use a privacy/transfer tool as currency, also if the value of BTC is only propped up by millions of investors holding an amount of BTC for profit then there won’t be stability in the value and the value will always go low in times of recession.
nobody cares.
I’m talking facts. You are pretending that bitcoin is only source code, as “if it was a scam it would be visible in the code”.
So yes, I think you’re confused somewhere.
Its not even about BTC or currency, its about the Bukele himself and his bootlickers. They are what is wrong.
BTC can be experiment, but it was used as promotional tool by evil person, as a tool, exploiting it for propaganda purposes, not for the function of it. It wouldnt solve any of problems present in El-Salvador. Problem is Bukele and his bootlickers.
Same things being exercised by other people, like The Line project in Saudi Arabia. Its only to show for propaganda purpose, while not solving any problem. Actually, like in The Line project, it can create lots of new problems. For example for environment.
We not going to fully agree my friend, I have somewhat agreed with you, it’s definitely being used for a ponzi which is set to fail.
I already know you have an issue accepting reality.
Lol, did you not read the part where I said I somewhat agreed.
Something designed as a ponzi and something being used to assist a ponzi will always be two different things. We should try and move forward with the convo now.
I read this part
And in that part you say that BTC is only code since it being a scam/ponzi MUST be visible by looking only at the code.
Therefore, the only thing that makes sense in that quote, is you making yet another personal attack in that post. But basing that personal attack on a complete nonsense.
So now I repeat myself with longer sentences because you cherry pick my words to make them mean something different otherwise (=strawman)
Come one man lets move on, accept the reality that many were tricked into investing by the promise of huge profit. Every crypto youtuber is saying similar.
Surely you can see that if we were told that crypto was only for people seeking privacy and it’s not wise to invest in then I don’t think many would have invested. Instead we were told “crypto is the future”, have a look on the way it’s been marketed, we have been misled, a privacy/transfer tool is useful but it’s not something that can help an investor become a millionaire over night, they had to get more people involved buying BTC to inflate the value and then cash out and get the fiat money. Yes, BTC was only used to gain access to fiat money which could be obtained from selling it to an exchange.
FTT tokens created by FTX/SBF we’re given to investors in exchange for fiat Cash, the fiat cash has always been the prize not BTC.
TLDR: BTC was marketed as “The Currency of the future” when it should have been “BTC is a great privacy and transfer tool” it should have only been advertised on privacy enthusiast websites and kept away from the mainstream channels. It should have also been marketed to retailers as an option for transferring value behind the scenes which the customer wouldn’t really know.
If we go back to the first ponzi scheme, the stamps were just bits of paper that had a useful function, using a certain method to abuse the use of the stamps resulted in profit, no one can say the stamps on their own were a scam or that the creator of the stamps made them to swindle people. The same thing is happening again but BTC has become the stamp and we were advised to use BTC in a way which is not the proper use for it, just like with the stamps.
Do you also think the stamps in the original ponzi were a scam?