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We used to call them Ponzi schemes. This is the same but in slow motion. People are going to start taking their profits at some point and whoever takes them las
by tootie 6y ago
We used to call them Ponzi schemes. This is the same but in slow motion. People are going to start taking their profits at some point and whoever takes them last will be holding the bag.
- rlt 6y agoOr just lottery tickets, which are mostly purchased by low income folks, and legal/state-sponsored, no less.
- dleslie 6y agoPonzicoins :)
- tfehring 6y agoObviously this was actually a thing. The whitepaper is really entertaining. https://ponzico.win/ponzico.pdf https://ponzico.win/ponzico.pdf
- fragsworth 6y agoCounterpoint: People are going to start getting rid of their dollars at some point, and whoever gets rid of them last will be holding the bag.
- imtringued 6y agoCPI inflation is extremely low. This should be worrying to anyone who thinks that the value of a dollar is going down as much as the housing, stock and cryptocurrency market imply. No, this is an indicator for a large scale bubble in the financial system. Once interest rates go up again there will be a correction.
- lm28469 6y agoIt's weird because last time I joined a conversation about BTC on this very website pro BTC posters were insisting on the fact that nobody ever said BTC would replace dollars. When you tell them BTC is slow and expensive they tell you BTC will never replace dollars so it's not a real issue, when you tell them BTC is a ponzi scheme they tell you that it will replace dollars. Even in the pro BTC group nobody agrees what it is, what it should be and what it should become.
- tootie 6y agoAs Keynes said: "In the long run, we're all dead". USD has intrinsic value as the reserve currency of the largest economy in the world and is actively managed by the Fed. Which is a thing most people like despite what you may read online. Dollars will eventually be worthless but not in our lifetime.