If you bought Bitcoin when Matt Damon said, you’d be out half your money

Posted on May 12, 2022 7:46 pm

If you bought Bitcoin when Matt Damon said, you’d be out half your money
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MONGO JERRY
MONGO JERRY
8 days ago

Starting to look a little Ponzi scheme-ish to me. You buy a coin, then convince others to do the same driving up the value of your coins. They then convince others to buy driving up the value of their coin and yours…and on it goes. When I ask how the true value of a Bitcoin is decided, I am basically told it’s whatever others are willing to pay followed by a 20-minute lecture on the evils of “fiat currency”. But, in the end, I suspect that the only people who will come out at least whole will do so because… Read more »

Donald Trump
Donald Trump
9 days ago

You listen to Matt Damon? He’s already worth north of 200 mil. Without bitcoin.

Slick Willy
Slick Willy
9 days ago

There is no other input of value into the system beyond the cash that the buyers of these software ledger entries (AKA “tokens”) deposited into the exchanges bank accounts when they surrendered their hard earned cash in exchange for a ledger entry. Therefore all of the money that bitcoin can ever pay to its holders upon exiting must come from the pool of cash from those initial investors. That’s the definition of a modern Ponzi scheme. As in any net zero sum game, there will be a few winners making great profits by exiting at the right time, but 100%… Read more »

John Steele
John Steele
9 days ago

The perfect example of WHY you never listen to hollywood airheads. They’re actors.. Bet he didn’t put any in the market..

belkabeast
belkabeast
9 days ago

But I watched Good Will Hunting!! Matt Damon is a mathematical genius!!

bigD
9 days ago
Reply to  belkabeast

More like jeanius.

W7S
W7S
9 days ago

Do not trust f@got stars for financial advice ever!

Squatch
9 days ago
Reply to  W7S

Nor medical advice, ever?
Actors act. Coherent thought, good judgement and moral character are not requirements to act, or get into a Harvard, for that matter.

Clown World
Clown World
9 days ago

The whole point of Bitcoin was to bypass the banks altogether.
Using a crypto bank seems pretty stupid and lazy.

J. Gulfstream-Bigbux
J. Gulfstream-Bigbux
9 days ago

This can’t be true. Matt Damon went to Harvard.

bigD
9 days ago

Me too, but only to work at a concert venue.

Fred Jackson
Fred Jackson
9 days ago

That is a funny headline.