Nah man, you gotta look into it some more if you think that. That’s fake news. The US dollar is the ponzi scheme. If bitcoin is a ponzi scheme, who is at the top of it?
There is inherent value in a network of verifiable transactions that cannot be controlled by a central government. There is no inherent value in a piece of paper that represents a number in a computer. The US dollar isn’t backed by anything but numbers in a computer. Every time they “print” more the value of your dollar goes down.
On top of that, fractional reserve banking means that when banks give out loans, they don’t even have to have that money on hand. The entire system is phony.
There will only ever be 21 million bitcoin in existence. You can’t just print more after that. What makes bitcoin a scheme but the US dollar is legit? They’re both just numbers in a computer. One has a limit to how high that number can go.
I never said out system wasn’t a Ponzi scheme. It is. But to contradict your statement about bitcoin not being controlled by a central government, out system isnt controlled by government either. The issue with bitcoin is that the other party has to recognize the value of it. And with so many crypto currencies out there which one wins? And when the other fail what do you have to show for it. With that being said going from tangible asset backed to federal (it’s not) reserve and promissory. The other issue we all have to accept is that these systems and institutions are so embedded timeline wise as well as size it’s almost impossible to institute change.
Most of the other crypto currencies are shit for so many different reasons. Bitcoin is the original and has the highest price for a reason, partly because a lot of people throughout the world do recognize the value of it.
Nah man, you gotta look into it some more if you think that. That’s fake news. The US dollar is the ponzi scheme. If bitcoin is a ponzi scheme, who is at the top of it?
There is inherent value in a network of verifiable transactions that cannot be controlled by a central government. There is no inherent value in a piece of paper that represents a number in a computer. The US dollar isn’t backed by anything but numbers in a computer. Every time they “print” more the value of your dollar goes down.
On top of that, fractional reserve banking means that when banks give out loans, they don’t even have to have that money on hand. The entire system is phony.
There will only ever be 21 million bitcoin in existence. You can’t just print more after that. What makes bitcoin a scheme but the US dollar is legit? They’re both just numbers in a computer. One has a limit to how high that number can go.
Highly suggest taking a look through some of these educational resources so you can see for yourself: https://www.lopp.net/bitcoin-information.html
I never said out system wasn’t a Ponzi scheme. It is. But to contradict your statement about bitcoin not being controlled by a central government, out system isnt controlled by government either. The issue with bitcoin is that the other party has to recognize the value of it. And with so many crypto currencies out there which one wins? And when the other fail what do you have to show for it. With that being said going from tangible asset backed to federal (it’s not) reserve and promissory. The other issue we all have to accept is that these systems and institutions are so embedded timeline wise as well as size it’s almost impossible to institute change.
? You’re comparing a value of qty of 1 to each other. Not even apples to apples. Have a good day.
Most of the other crypto currencies are shit for so many different reasons. Bitcoin is the original and has the highest price for a reason, partly because a lot of people throughout the world do recognize the value of it.