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Posted on May 12, 2022 7:46 pm
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 »
You listen to Matt Damon? He’s already worth north of 200 mil. Without bitcoin.
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 »
The perfect example of WHY you never listen to hollywood airheads. They’re actors.. Bet he didn’t put any in the market..
But I watched Good Will Hunting!! Matt Damon is a mathematical genius!!
More like jeanius.
Do not trust f@got stars for financial advice ever!
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.
The whole point of Bitcoin was to bypass the banks altogether.
Using a crypto bank seems pretty stupid and lazy.
This can’t be true. Matt Damon went to Harvard.
Me too, but only to work at a concert venue.
That is a funny headline.