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> I’m curious what’s your opinion on Bitcoin a Ponzi scheme by any other name .. which primarily works because it exploits the uncertainties which many people
by elmo2you 6y ago
> I’m curious what’s your opinion on Bitcoin
a Ponzi scheme by any other name .. which primarily works because it exploits the uncertainties which many people feel about yet another system we are all invested in (whether we like it or not), sporting an extremely unfair distribution and being fundamentally broken too (in fact, at this point it pretty much functions like a Ponzi scheme too): The Dollar dominated world economy.
It is a Tulip mania in the making, which is going to make smart/early investors very rich (as long as they act quickly) when an sudden event (unexpected for most people) will trigger a serious crash of the world economy (which at this point appears almost inevitable). I'm pretty sure that plenty of serious investors are cynically gambling on exactly just that.
Sadly, an increasing proportion of primarily the US economy (and plenty of foreign ones, somehow dependent/reliant on it) revolves around stocked-up capital (potential power, but not used for anything useful, just speculation and political influence) on one hand and increasingly desperate fraud and deception, trying to access this piled up capital. The daily news is distracting most people away from this reality, but I think it is getting worse, rapidly. Something will crack, eventually.
Bitcoin isn't the real problem. It's mostly a symptom of a far bigger problem (will only be "solved" with a crash).
Similarly, plenty of technical/science news these days appears to be no more than deceptive marketing campaigns. But that is again, just like bitcoin, more like a symptom of an even bigger problem than the actual problem itself.