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The only way to make money investing in Bitcoin is to convince a greater fool to buy your coins for more than you paid for them. And that greater fool must in
by lalaland1125 4y ago
The only way to make money investing in Bitcoin is to convince a greater fool to buy your coins for more than you paid for them.
And that greater fool must in turn convince an even greater fool, etc, etc
It's not a Ponzi, but it has similar dynamics to a Ponzi in that you can only gain money through other people losing money.
- krunck 4y agoWhy does it have to be about making money? Bitcoin is a currency, not an investment. That's where a lot people get confused.
- rubyist5eva 4y agoBitcoin will never gain mass adoption as a currency, that leaves it as a "value store" - and the only people buying bitcoin are suckers buying bitcoin from others in the hope that they can in turn sell it to a bigger sucker down the line.
- lalaland1125 4y agoIt's because that is the primary "use case" of Bitcoin right now as Bitcoin is even worse at being at currency than an investment. Bad price stability, slow transactions, high fees under any amount of load, bad privacy, terrible adoption, etc, etc
- Arainach 4y agoThe overwhelming majority of holders of Bitcoin disagree with you. It's a garbage currency - fees are too high, transfers too slow. It's a garbage technology that encourages wanton energy wastage. Its only "value" is as an investment.