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"I predict that it has at least another thousandfold increase to go in the coming few years" Clearly a 'Bernard Madoff 2.0' pyramid scam. Only profitable for t
by synctext 15y ago
"I predict that it has at least another thousandfold increase to go in the coming few years"
Clearly a 'Bernard Madoff 2.0' pyramid scam.
Only profitable for the early adopters, pay by the last suckers whom enter.
- weavejester 15y agoBernard Madoff ran a Ponzi scheme, not a pyramid scheme, and Bitcoin cannot be classed as either.
- gamble 15y agoYou're right, Bitcoin is actually more like a penny stock pump-and-dump scheme.
- weavejester 15y agoExcept there doesn't appear to be a whole lot of dumping going on. I suspect the majority of Bitcoin investors are more interested in seeing how far Bitcoin can go rather than dumping all their coins the moment they've made a reasonable profit.
- synctext 15y agoYes, that is the interesting bit. A lot of people are not in Bitcoin for the money primary. They are hoarders or altruists. Once some person tries to cash a $50,000 BTC account it will go down. The market depth is simply not there it seems. The money supply is not regulated vs. the trade volume, right?
- Tichy 15y agoI predict that the dollar has at least a thousandfold increase to go in the coming few years. Therefore I have shown that the dollar is a Ponzi scheme?