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Right now your grandmother is considering to buy bitcoins. This is the last stage of the Ponzi pyramid. By the end of 2018, people will have learned the lesson
by Iv 9y ago
Right now your grandmother is considering to buy bitcoins.
This is the last stage of the Ponzi pyramid. By the end of 2018, people will have learned the lesson the hard way. No need to shout it, just wait.
This is actually a very smart part of the bitcoin design: make a lot of people get coins by expecting returns, then have them discover that it can only be used as a currency and watch them spend the one they have.
We need to have the lightning network working and easy to use by the time the crash happens.
- andirk 9y agoIs USD a ponzi scheme or any sort of manipulative 2008 scheme in general? Or is USD great?
- Iv 9y agoPeople who get USD do not expect it to gain value on the long term. They do not see that as a speculative investment. Some will use it as a reserve currency, most simply as a currency. I guess you can argue some way or another that this is a scam, but certainly not of the Ponzi form, where the returns are funded through the new entrants.