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Emile

(38,250 posts)

25. I personally think Bitcoin is a pyramid scam,

Reply to RandiFan1290 (Original post)

Sun Oct 5, 2025, 12:59 PM

Oct 5

or a money laundering tool.

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Bitcoin hits all-time high above $125,000 [View all] RandiFan1290 Oct 5 OP

This is Krasnov's economic plan gab13by13 Oct 5 #1

Bitcoin is a load of crap. LPBBEAR Oct 5 #2

Yeah, I don't get it either moose65 Oct 5 #3

Anyone else on here remember the penny stock fad? llmart Oct 5 #16

Yep, unfortunately I do. Talitha Oct 5 #21

I am so sorry. llmart Oct 5 #33

Thanks for your thoughtfuless - no harm, no foul. Talitha Oct 5 #66

Greater Fool Theory, apparently. C_U_L8R Oct 5 #31

It is substituting computational hardware and energy consumption for Wealthy Bankers IbogaProject Oct 5 #51

As I used to say back when Bit coin was worth about $35,000, if you were selling your car Bengus81 Oct 5 #4

And if you had taken payment in BTC, you would have an asset worth 400% more than you paid for it hueymahl Oct 5 #18

Which is why its useless as actual currency. Callie1979 Oct 5 #40

There's going to be another Bankman Fried disaster in the future,doubtfull they'll be Bengus81 Oct 5 #57

Totally agree - it is not a good currency right now hueymahl Oct 5 #64

I'd say you should always have a good supply of cash on hand. Callie1979 Oct 5 #67

LOL...you assuming someone selling a $35K car has it paid off Bengus81 Oct 5 #56

It's like using shells or any other token, as long as there is trust it works. The electricity/cryptography is trust Blues Heron Oct 5 #6

Except that bitcoin will NEVER be stable enough to be usable as an actual currency William Seger Oct 5 #12

All currencies are based on trust, whether it's the full faith and credit of whatever country, piles of gold, etc. Blues Heron Oct 5 #13

Two things you want from a currency: stability and universal acceptance William Seger Oct 5 #14

Depends on how you define stability hueymahl Oct 5 #20

I define stability as NOT being like this: William Seger Oct 5 #27

But what does a bitcoim actually have to KEEP that trust DonCoquixote Oct 5 #26

Why does any currency have value? hueymahl Oct 5 #41

And when the BTC algorithm gets cracked, what will you have then? Callie1979 Oct 5 #43

that is a theoretical risk with quantum computers coming online hueymahl Oct 5 #47

So we're to trust an "asset" invented by someone no one knows, Callie1979 Oct 5 #53

Strong cryptography that says those bitcoins belong to you, like your bank says those dollars are yours Blues Heron Oct 5 #68

But.... moose65 Oct 5 #61

Your bank account is just a number on a ledger. The value is in the cryptography. Blues Heron Oct 5 #69

The danger... lonely bird Oct 5 #70

Finally another kindred sole on here! hueymahl Oct 5 #19

Of course, you want more DU members to "come around" William Seger Oct 5 #28

No, I want everyone to do well hueymahl Oct 5 #39

If you believe cryptocurrency is a good investment but real currency is not... William Seger Oct 5 #65

But it would also allow rogue governments like Russia & china to get away with MORE Callie1979 Oct 5 #42

Banks are already adapting hueymahl Oct 5 #50

You forgot to mention a salient point: FakeNoose Oct 5 #23

No currency token is worth anything by itself. they are bits of plastic or paper or cheap alloys. Blues Heron Oct 5 #32

You just called gold useless & then described some of its uses. Callie1979 Oct 5 #44

When was the last time you got a gold coin in your change? Blues Heron Oct 5 #49

"Coin" wasnt one of the uses. Industry uses a LOT of gold. Callie1979 Oct 5 #52

As a token of exchange it is pretty useless to you or me, except as decoration. Blues Heron Oct 5 #54

Still Worthless VeryProgressive Oct 5 #5

It's like a giant slot machine. mdbl Oct 5 #7

It should have been drowned in it's infancy. Buddyzbuddy Oct 5 #8

I'd buy the "limited quantity" argument, if it were just Bitcoin. But new cryptocurrencies are being created all the progree Oct 5 #9

One repeated line I remember from the Pawn Stars show: William Seger Oct 5 #29

Yup, that too progree Oct 5 #35

This message was self-deleted by its author Emile Oct 5 #10

We allknow that someday some people will bluestarone Oct 5 #11

Gold is tapping $3900 too bucolic_frolic Oct 5 #15

Bitcoin is tulip mania with electrons. Until you dobleremolque Oct 5 #17

Coming soon hueymahl Oct 5 #22

I wonder ....... dobleremolque Oct 5 #34

I don't understand the point of your question hueymahl Oct 5 #38

Somethings not right with this economy. Gold and Crypto pinging in lockstep with the markets with high interest rates Cheezoholic Oct 5 #24

The common denominator is the dollar is being devalued hueymahl Oct 5 #45

The only way anyone would "lose everything" in '08 is if they SOLD. Callie1979 Oct 5 #46

I was specifically comparing it to the tech bubble in the late 90's not the housing loan fiasco in '07 Cheezoholic Oct 5 #59

I personally think Bitcoin is a pyramid scam, Emile Oct 5 #25

Both. Callie1979 Oct 5 #48

of course rampartd Oct 5 #30

The greater fool theory. lostincalifornia Oct 5 #36

Gonna be interesting when the BTC algorithm is cracked. Callie1979 Oct 5 #37

It's open source Blues Heron Oct 5 #58

My brain is still Windows 98 so thats just like a foreign language. Callie1979 Oct 6 #71

There's one born every minute orangecrush Oct 5 #55

i own some. a small amount moonshinegnomie Oct 5 #60

Wait for the Crash Deep State Witch Oct 5 #62

Trump loves this news. Gimpyknee Oct 5 #63