Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
DubemIfedigbo001
on 31/10/2024, 07:20:28 UTC
⭐ Merited by JayJuanGee (1)
Ser, read the post again, and please get the actual context. What I said was, from the viewpoint of a normie and/or a person from the traditional banking system, Bitcoin might be considered a "Ponzi" by those people like how we Bitcoin HODLers consider shitcoins.

Plus from a another, more controversial viewpoint, Bitcoin is ACTUALLY a "Ponzi", but a sort of naturally-occurring "Ponzi" LIKE GOLD.
A Ponzi scheme? Bitcoin is far from it and should never be considered such by any reasonable person.

Being used to fiat is not a valid reason for anyone to play idiocy on a fact. Does Bitcoin pay A and deny payment to B? Or it uses the money of A to pay B etc, just like a Ponzi scheme? Certainly not. Bitcoin is a currency, but in the form of a decentralised crypto network, that's the only difference it has with fiat currencies. If the government allows it to have full rights and potential, it will help the people more than the fiat currency.
The difference between Bitcoin and fiat spans above just being a digital currency and they're as follows:
  • Transparency: Bitcoin transactions on the Blockchain are recorded on public ledgers and made accessible b to everyone, but such can never be said about fiat
  • Security: The Bitcoin network is much harder to compromise unless the error comes from the investors pattern of handling his coins
  • Anonymity: Using a decentralized wallet, your transactions on the Bitcoin network can remain untraced to the sender and receiver.
  • Value: history has proven that Bitcoin is a valuable asset as compared to fiat which loses its purchasing power consistently
  • Regulation: Bitcoin is not owned or regulated by anybody, hence you can use your Bitcoin without governmental interference as against Fiat which is fully controlled by the government
From the above, it's seen that Bitcoin is much preferable to hedge funds than fiat and the government are fully aware of it's potential no doubt. But they're just afraid of not being able to control and regulate it themselves.