Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Fariwala on November 11, 2018, 10:45:27 AM
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In a fraudulent investment scheme, like Ponzi, investors will transfer their utilizable resources, be it money, goods or services, and then they end up with something which has zero usage capacity, like promise or non-binding record of investment. After the investment, the only possible way for them to get accessable resources is back.
The opposite is true in a successful investment business, where investors transfer is a type of utilizable resource and in return they receive another type of such resources. A useful resource is humans For example a car can be practically used for driving, a dollar for loan payments, a stock for participation in company's profitability, food for providing nutritional support, a raw material for finished finished products etc. Therefore, a utilizable resource is not something that has just passed from hand-to-hand on a market for investment or speculation purposes, but something is end consumers who will use, use or otherwise. And this is the real use of end consumers is why things got the market in the first place. For example They have end consumers in the form of borrowers, as food has the same hungry people in such consumers of food. In other words, loan contracts and collateral forces people to use dollars for loan payments the same as hunger forces people to use food Since all dollars (either paper or digital) are loan based, they are not only passed from hand to hand but also used by borrowers who are forced to sell goods and services to dollar investors, speculators, or regular users, when loan payment liability must be fulfilled In the same way, hungry people are forced to give money, goods or services to food producers
In a fraudulent investment scheme, there are no end consumers, which is why a lures members in the scheme just hand-to-hand passed, member-to-member from ... until it is realized that only profit can come from utilizable resources
And this finally brings us to bitcoin and the following question. When investors transfer their utilizable resources like money, goods or services into bitcoin do they end up with another usable resource, i.e. a resource which can be utilized by some end consumer? Well, the obvious answer is: no, they do not Instead, they end up only with a record in a block (blockchain) or other words, only with a number associated with their bitcoin address. And this number can not be practically utilized like food used by hungry people or dollar by borrowers, but it can be only address-to-address, from hand-to-hand, to member-to-member. And this is exactly how classical fraudulent schemes operate - they use something to lure people in the scheme, but the thing itself is non-utilizable, which is why it is just passing from one person to another Once people realize that profit or utilizable resources can come from new investors only, the whole scheme collapses. And this is the final fate of bitcoin So, do not buy it.
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Thanks for the long writing of yours but everyone have their own choices whether to buy or not.
So, do not buy it.
Not buying is not the issue because the proofs of reliability of bitcoin matters.
How are you sure that bitcoin will collapse?
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"The other thing I've always [said] about bitcoin, governments — and this is not a technological statement — governments are going to crush it one day.
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These are good arguments and everyone needs to remember this. This does not necessarily happen, but it is one of the possible scenarios. This is not worth excluding and therefore not worth a lot of money to keep in Bitcoin. True, a very risky Bitcoin investment will be only for very large price values.
Get the first karma.
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They're also responsible for making sure analysts are on the same page as far as "suspicious activity" because it's broad and vague for a reason. As a result they write rules and procedures as guidelines to try and streamline this really broad definition of suspicious.
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I agree with you. I also think that Bitcoin has no practical use. Many people say that Bitcoin will replace gold or legal tender, but the price of Bitcoin changes every second. This is very bad, isn't it? And the purchase and use of Bitcoin needs to go through the Internet, and the elderly and children can't do this!
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Thanks for the long writing of yours but everyone have their own choices whether to buy or not.
So, do not buy it.
Not buying is not the issue because the proofs of reliability of bitcoin matters.
How are you sure that bitcoin will collapse?
I am with you mate. We have own opinion about this. I believe bitcoin will rise again at the near future. So, it is a good time to buy while the price is still cheap. As far as I know, no signal for the bitcoin is going to collapse.
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I appreciate your thinking that bitcoin will collapse, but everyone has their own views of bitcoin. I still believe in bitcoin that bitcoin will be able to rise and have high value in the future, and therefore I like to buy in this decline.