Quote from: mindrust on Today at 06:08:51 AM

Quote from: Antithesis on Today at 05:31:43 AM

Yes, people behave stupid. That's why we have ponzi-like schemes and market bubbles. But that's off topic. Here we talk about the fact that by holding bitcoin you own nothing. Regardless if price of a particular stock is hundred times above it's real value that fact won't change. And of course, marketcap of bitcoin is the stupidest concept in this whole fantasy kingdom. There's zero capital owned by bitcoin holders, so zero shares in capital multiplied by markt price gives zero.

Let's say what you just said was true for a moment. What's your solution? You expect everybody to sell their bitcoins? As you see it is not collapsing but getting only bigger.

Here is a good reason which'll make you buy: Just participate so you can also make money. You don't even have to buy a "whole" bitcoin to participate. You can use 1% of your wealth. Dump it when it becomes 2%. You will be risking only 1% of your total wealth.

No matter how many times you scream that "crypto has no value", "it is worthless" bla bla bla, the markets don't give af. The price tag for a coin is still $42k. You can either join, or you can cry all you want. Nobody really cares. If you are so sure about that crypto has no value, why don't you short it anyway?

Have fun staying poor.

My goal is not to change people's behavior. Once they invested in something, people are driven by fear or greed and no amount of rational arguments or facts can help them. My goal is simply to present the truth. How will people handle the truth it's up to them.

Quote from: FatFork on Today at 07:50:22 AM

Quote from: Antithesis on February 11, 2022, 04:37:57 PM

Quote from: FatFork on February 11, 2022, 04:07:13 PM

Quote from: Antithesis on February 11, 2022, 03:58:39 PM

So, you've never experienced that financial schemes, where people hold the record of membership but own nothing, collapse? Interesting.

No, I haven't. Not like Bitcoin.
Have you? Could you name at least one? Since, as far as I know, there was nothing like Bitcoin before Bitcoin.

Bitcoin is just a means of luring people to trade their ownership of something for the ownership of nothing. This is simply the same old scheme dressed up in a new uniform. By entering the scheme the investors gave up their ownership of electricity, cars, houses, phones, debt, equity...whatever. Only to end up with a record in a ledger. That's nothing new. People have always been recorded in some way when joining such schemes. It's just that currently the ledger is digital and decentralized. Given that no one can live off of records in a ledger (decentralized or not), members desperately need new investors to exist the scheme. That's why in bitcoin you needed all that mantras about revolution, new internet, societal salvation, freedom... storytelling about the Moon... You have to lure people into the scheme somehow. Eventually people figure out what is going on and everything collapses.

Your entire statement here is based only on your opinion and has no foundation in facts. You cannot call that a truism. I asked you to explain the simple premise upon which you base your conclusion, but you can't even do that, instead you are deflecting and avoiding the simple question. Why is that?

Quote from: mindrust on Today at 06:08:51 AM

Here is a good reason which'll make you buy: Just participate so you can also make money. You don't even have to buy a "whole" bitcoin to participate. You can use 1% of your wealth. Dump it when it becomes 2%. You will be risking only 1% of your total wealth.

No matter how many times you scream that "crypto has no value", "it is worthless" bla bla bla, the markets don't give af. The price tag for a coin is still $42k. You can either join, or you can cry all you want. Nobody really cares. If you are so sure about that crypto has no value, why don't you short it anyway?

Have fun staying poor.

No. It's too late for him! He's been ranting the same shit since 2017. A smart man would have moved on by now, but apparently his head cannot fathom the concept of letting go of stuff and that he might be wrong. Grin

It's not my opinion that once you enter bitcoin system you own nothing. And it's not my opinion that all systems where you own nothing by being member, collapse eventually. The fact that the record of membership is currently digital, and decentralized, traded on the market means nothing. People eventually stop trading their ownership of something for a mere membership status.