Quote:
Originally Posted by pimpmaster9000
fiat money has governments with actual armies standing behind it...ready to protect it if need be...the most powerful people in the world have their interests indexed in it...crypto has jack shit...all your exchangers licenses to operate stand on glass legs and can be shut down by the government arbitrarily...
that is a fact for you...there is nothing contradictory about what I said, you are just confused...crypto is a casino, it is nothing new, its like egold or 1mdc but it has the ponzi built in...before people used to buy egold to invest in online ponzies...this btc thing is such a dejavu you guys have no idea  |
You don't know the meaning of ponzi, so your misuse of the term reveals your blind hatred, that's a reputation killer, but not to worry, this is GFY, we're here to help
By definition alone, Ponzi schemes must fulfil the following criteria:
Secrecy – Bitcoin is open source. Anyone can see it at any time.
Complex – many millions worldwide are capable engaging with cryptography behind the Blockchain that Bitcoin is built upon.
Unregistered Investments – In the developed countries, Bitcoin is now classed as a registered asset and gains are taxable under capital gains.
Low risk, high investment returns – in the short term, Bitcoin has had negative or flat growth. Over many years, it may generate returns.
Overly consistent returns – Bitcoin returns are only consistent over 4 year windows.
Unlicensed sellers – most exchanges are registered and compliant with that country’s regulations. Those exchanges that don’t have adequate security have been hacked and others have lost investor confidence. This has streamlined the number of exchanges.
Paperwork issues – Bitcoin code, though complex, can be monitored and reviewed by anyone, anywhere. Crypto exchanges are now micromanaged by relevant taxation departments.
Quote:
Originally Posted by pimpmaster9000
no I just dont like gambling being called "investment" and being put in the same basket as less risky things with actual value...
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Everything has a market, with people betting for or against a product, service, asset, mineral/metal, technology
What do you consider an "investment"?