#Cryptocrash

I just feel terrible for your students about how much your ignorance and arrogance has robbed then

But you're like most academics... Totally clueless
 
Interesting to see what the dollar has been doing against other currencies the past couple years.

At the end of 2020 a dollar was worth 103 yen. Now it is up to 128 yen.

Against the euro it was worth .82 euros. Now it is .96 euros.
 
Man, a certain someone going hard to defend a currency that terrorists, drug dealers and child porn and sex traffickers love

Weird


Anyway, this **** funny:
[tw] 1525123256977612800[/tw]
 
goldfly said:
Man, a certain someone going hard to defend a currency that terrorists, drug dealers and child porn and sex traffickers love

Weird


Anyway, this **** funny:
[tw] 1525123256977612800[/tw]
Click to expand...

Lol the major banks have been fined over $1T for breaking laws, laundering money, etc.

I would bet you find one of them
 
goldfly said:
How many nft monkeys ya got man? Lol
Click to expand...

I have none. I own a lot of BTC and ETH. Both investments has been wildly successful, thankfully. I dabbled in some other technologies for a while but sold all of them last summer

But I asked you a very specific question and am certainly unsurprised you didn't have an answer. Can you explain what makes BTC a Ponzi scheme?
 
I seriously find no point in talking with you since you’re a disingenuous person (as I’ve told you a **** ton of times now)

But I can’t think of anything less I’d like to converse with you on than Bitcoin or any convo with crypto boys about the future of crypto currencies etc lol
 
Goldy: implies BTC is a Ponzi scheme

Sturg: why do you think that?

Goldy: I have no interest in explaining this position that I presented to the board

(For those following along, it's bc he can't. He has beliefs but has no idea why)
 
sturg33 said:
Goldy: implies BTC is a Ponzi scheme

Sturg: why do you think that?

Goldy: I have no interest in explaining this position that I presented to the board

(For those following along, it's bc he can't. He has beliefs but has no idea why)
Click to expand...

Bitcoin isn't a Ponzi Scheme. It's an art project. It's value is based on it's scarcity.

But all currency is a scheme. It's all based on the value someone puts on it. that's true of any currency.

That being said, the Stockmarket is a legal ponzi scheme at this point.
 
It is hard to find clear explanations of ponzi schemes and bubbles and where cryptocurrencies fit into this taxonomy. Here is one article. It uses jargon (like transversality condition) that might not be familiar to lay people. But as I said it is hard to find this discussed in a clear dispassionate way. I don't think crypto are inherently ponzi schemes or bubbles. But they have characteristics that make them prone to manipulation by people engaged in activities that could be called a ponzi scheme. And their valuation (largely untethered to any sort of fundamentals) suggest they have a tendency to becoming bubbles. Easy monetary policy seems to encourage the formation of financial bubbles. And crypto seem to be the vehicle of choice for this generation's bubbles. Next time around it might be other objects. In the past we have had tulip mania. So literally anything can become a bubble if enough people start believing in it. Even things with real fundamental value can become bubbles if their valuation becomes divorced from those fundamentals. Has happened with real estate, technology stocks, railroad stocks, etc, etc.

https://economics.stackexchange.com/questions/20330/are-cryptocurrencies-a-ponzi-scheme-or-a-bubble
 
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You can make an argument they are in a bubble or can be manipulated (like literally every asset)... But it is not a Ponzi scheme in by any potential definition.

It has been by far the best investment in centuries, and it being more.globally adopted every day as a currency*

*And this is ignoring the unlimited applications of the Blockchain in general.

The reason that boomers and seals hate Bitcoin is because it is a.legitimate threat to *actual* Ponzi scheme of fiat currencies
 
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