this post was submitted on 28 Feb 2024
44 points (81.4% liked)

Bωockchain

270 readers
1 users here now

crypto skeptical community

bwockchain is not a technology of the future, buttcoin is a scam.

All lemmy.ml instance rules work here.

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] Ptsf@lemmy.world 1 points 8 months ago

It's actually you missing the point entirely. Just because you can trade your shares in it does not make it a legitimate investment, nor do I believe all investments need generate revenue. Investment is risk and loss is part of that.

Now, since you're inclined to continue to be deluded, from the Wikipedia definition: "Named after Italian businessman Charles Ponzi, this scheme misleads investors by either falsely suggesting that profits are derived from legitimate business activities (whereas the business activities are non-existent), or by exaggerating the extent and profitability of the legitimate business activities, leveraging new investments to fabricate or supplement these profits".

Bitcoin is not a currency. It's design does not allow for it to be one longterm. It has a built in expiration date and cash flow drain with no legitimate business activity that generates value aside from new investors. The only way one generates value from bitcoin is new investors. The only way your coin is worth more money is new investors. That is what makes it a Ponzi scheme. Just because you can trade shares of your Ponzi scheme to others for their money does not make it an investment.