The Rise and Fall in Bitcoin Value

It’s okay I’m done I realise you don’t have much else to contribute except awkward conversation. I’m good thanks.

So those “exact quote” you were talking about, where only lies ?

I thought salesmen were the worse and bitcoiners only said the truth…

The irony in this one is killing me.

It’s okay buddy, continue with your belief I have no more points for you.

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I’m surprised they allowed the 2nd video. The US government secretly plotting to destroy confidence in crypto? SBF is a government agent? This is crazy if it’s true.

“BTC is about making money without doing actually anything”.

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But, I like getting money for doing nothing.

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I want my ,
I want my,
I want my MTV.

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It is strange how Vosk once viewed crypto. He is dealing with a de-centralised currency held by a centralised entity which seems to be a contradiction, I think the problem with centralisation is that they are hellbent on making profit, why on earth a crypto exchange can’t just hold the crypto and earn money from services and fees is beyond me. But then I suppose the investors agreed to these companies using their crypto for loans to other entities. The situation is a mess.

Hopefully from this point all investors will understand that they must use their own crypto wallets that only they have access to.

I used to think the structure of a crypto exchange was to simply hold investors crypto and charge them fees when they perform an action like buying or selling. If you have 1 million investors buying and selling constantly I’m pretty sure the exchange can earn a good £50k to £100k per day from fees alone, obviously this isn’t enough for them. The crypto/fiat the exchange earn from fees could then be lent/invested so that the customer/investor is protected.

The exchange that is able to work with investors without holding all the investors crypto/fiat will be the most successful. I think everyone should remove their crypto from all exchanges.

The goal of any business must be to look after and protect their customer base, failure to do this will always result in problems. It’s apparent that many crypto investment firms and exchanges take advantage of their customers due to the product being a de-centralised one.

Because, BTC is a ponzi.
If you start to not forbid this idea, everything makes more sense all of a sudden. But yes, for this you need to be able to accept ideas you disagree with at the moment. Cognitive dissonance is a pain.

Don’t waste your time talking with me as we are not going to agree, and you don’t seem to do real talk. you’ve made it difficult to ask you questions about your belief.

Fixed.

You fixed nothing. If there is no fiat money, what can we pay the ponzi with ?

You seem very willing to contradict yourself.

I don’t pretend I can make you think. I only want to avoid other people being victims of your ignorance. That’s why I don’t care about your opinions, or you understanding my opinion.
I only want to show your errors to people actually making a choice, and who may not realize how nonsensical your claims are.

You already proved that you don’t actually care about facts, only about your opinions, typically when claiming you could back up your claims with quotes you could not provide.
It’s a good thing to show to other people.

Hmmm.

Fixed.

What does that even mean ?
Fiat money has always its own value. Because it’s its goal : to express values of other things.

So fiat does not have a value. It is the standard of value. It’s like you said “mile has a distance”. No, mile is used to express the distance.

So a mile is a mile. It’s a standard. An abstraction. And if you want to exchange ropes with someone who works in ISU then you need to convert them. And for that you ask the centralized entity that tells you how many miles is a meter.

Funny things how those arguments are used to defend a ponzi, knowing it is one :
“in the future it will be valuable”
“People are buying into it so it must have value, right ?”

Funny things that people who know how to spot a ponzi when they find one are always answered those nonsenses…

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When I watched the video I heard SBF talk about his plan to manipulate the scarcity of a crypto coin by talking lots of people into buying it, once the scarcity of a coin is high the value of the coin goes higher and profit is made where SBF must get first dibbs on any profit., what SBF doesn’t understand is that it can only be conditions within the economy that dictate the scarcity of BTC.

We saw similar with Elon Musk;

Elon Musk: “I might accept BTC for a Tesla Car”

Worldwide Public: RIGHT!!! lets do everything we can to buy BTC, mine it, obtain it, lets just get it all right this moment!

  • everyone in the world tries to obtain BTC, the scarcity of BTC raises quickly which increases the value of BTC

  • World Events happen, Covid, lockdown, war. Elon Musk changing his mind about BTC

Worldwide Public: “Oh dear, food, energy, everything we need has increased in price, we better turn our BTC holdings we were saving to buy a tesla back into fiat money so we can better service these bills”

  • scarcity of BTC falls when everyone sells their BTC (for good reasons), the value of btc goes lower.

Shh, its secret. :shushing_face:

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Fixed.

Funny that, when you replace it with the correct term, then the sentence actually seems like a tautology.

Maybe the BTC guys feel ganged up on. Should we start another thread about how corporate equities are also a Ponzi scheme because their valuations are only made possible because everybody keeps putting their life savings into them?

You’re still trying to hard to ignore how people disrupt crypto, the scheme originates from persons (SBF, DoKwon, Many other crypto investment companies,) they are the only ones pushing “give us your crypto”

BTC is nothing more than a system where a finite amount of coins will exist for people to use with transactions, It is introduced into an economy via mining and the miners can sell their BTC to an exchange for a fiat value which matches the current scarcity of BTC. The value must start with the miner doing what they need to do to generate coins, it is not easy work to build and maintain computer systems which mine BTC it is costly and competitive.

If you want to ignore the work miners put in to obtain BTC then go ahead this will only lead you to falsehood.

You must start understanding it is human nature to try and profit. If their was a particular fiat currency in the world that had really wild fluctuations one week its super high then another week it’s super low and this behaviour was consistent then you will always find someone trying to profit from it. This does not make the fluctuating currency a ponzi, the person organising it is running a ponzi and using that particular currency to do so.

TLDR: You ignore too much which makes convo with you impossible.

How comes ?
Do you know that banks have to invest the money that is printed, and therefore they don’t need anybody to invest their life savings ? That’s the job of the banks : lend money to activities that are considered to be a positive effect on the society.
That’s also why quantitative easing was bad : it resulted more in speculation investments, than in production investment, because it sent a signal that speculation was more worthy than production.

And yes, it also means banks lend money to the state instead of investing in crypto BS scams, but state is not pretending to be an investment (because when the state goes well = GPD growth, then money the banks have at their disposal increases). I agree it’s stupid, but that’s politics.

At the root of all those scams.
Because it benefits from them. For BTC to be wildly used, it requires them.

And thus, fiat is regulated. For this exact reason. While BTC is not regulated, for the sole sake of making it usable to scam people.

TLDR : you contradict yourself too much to make any sense.