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Is bitcoin a climate killing Ponzi scheme?


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5 minutes ago, Heng said:

 

Just basic knowledge of current tech events.  Not all blockchain type techs require proof of work (proof of work is the electricity/power consumer in this ecosystem).   There are similar systems that rely on proof of stake or proof of selection, which consume far less energy (not to mention it's the tech itself that allows quantification of electricity use... if there were some way to quantity the electricity currently consumed by the financial system it's designed to replace it would likely be a different relative picture...).   There are alternate low energy chain technologies such as Holochain.     But yes, to many folks it maybe difficult to grasp.   I can telex you more info if you can't get around the Google barrier.  

Delicious condescension there.

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After the court case between ripple and the sec regulations will probably come in and alot of coins will fall by the wayside.

I know this only affects the US but some countries are banning crypto and regulations will be made everywhere at some point Imho.

Edited by Sametboy2019
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Thankfully due to a long term plan I have enough to be financially comfortable here in los, even 10% better off in the past few weeks due to the exchange rate. That plan I refer to saw me realise gains from investing in companies that paid me dividends, some of it in banks who then loaned it out and gave me a token gesture in return. A good lump came from tax efficient savings and most of it was in property.

 

I’m not interested in entering into Bitcoin or any Crypto for profit, but I’m intrigued as to how it magically grows in value. It’s not invested in companies or with individuals that produce a return, you can’t use it for anything like property where you have the added benefit of having somewhere to sleep at night.

The only people to have made anything are the ones that invested at £x and sold at £x+1 , and good luck to them, personally I don't gamble.. I’d love to here from someone that can explain how they can guarantee to see a return if they invest today. I will ignore any historical data based on my experience.

 

DaLa

ex Financial Services

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33 minutes ago, Sametboy2019 said:

After the court case between ripple and the sec regulations will probably come in and alot of coins will fall by the wayside.

I know this only affects the US but some countries are banning crypto and regulations will be made everywhere at some point Imho.

actually the 'banning crypto' may turn out a godsend, especiaolly for smaller economies...

 - considering the CCP has made their own crypto their official currency!! It would then help in providing a simplest way of keeping out of the CCPs expansion clutches...

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7 minutes ago, Heng said:

 

That's just the current Yuan/Renminbi to BTC exchange rate.   What battle are you referring to? 

... when the digital Yuan eventually goes online for Exch Rate purposes... 

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2 hours ago, DaLa said:

The only people to have made anything are the ones that invested at £x and sold at £x+1 , and good luck to them, personally I don't gamble.. I’d love to here from someone that can explain how they can guarantee to see a return if they invest today. I will ignore any historical data based on my experience.

I'd love to hear from someone that can explain how they can guarantee to see a return if they invest in stocks, or in gold, or in property.

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1 hour ago, Digitalbanana said:

When the price of crypto and particularly Dogecoin is linked to how Elon Musk's performance on next Saturdays SNL goes, gotta ring some alarm bells.

You're kidding yourself if you think anyone cares about the dog coin.

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Doge is fun to trade.  Now that is pure gambling.   That said, the only funds I put into such trades are house money (Doge gains included).   It's one of those coins that wherever I am at the end of the day, I close my position as it's not something I would sleep on.   

 

Here's one for the crypto reluctant (I'm trying to send some to Charlie Munger just to see what happens) to maybe put a few stimmy or social security checks into.... SLP coin.   Also known as Small Love Potion.   Currently 27 US cents a coin, around 400 million in circulation, you can buy it on Binance, less than $100 million in market cap at the moment.   Created by some Vietnamese gamers (sneaky Viets!), you can use this coin in the Axie Infinity game world to grow imaginary pets and plants (not tulips though).   Strengths: it has a really cute icon representing the coin and as far as I know, it doesn't have much of a global energy signature (because you know, not all coins do... so you're going to have to come up with other party pooper concepts).   😀

Edited by Heng
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On 5/6/2021 at 7:02 PM, fdsa said:

I'd love to hear from someone that can explain how they can guarantee to see a return if they invest in stocks, or in gold, or in property.

Good point and you're absolutely correct. I have in the past seen a loss on certain stocks, however never in my personal experience have I experienced a loss on property. But your point still stands.

 

Lets say I prefer to be left with shares in a company even though the share price could have devalued substantially because I will still be able to benefit from its earnings. Having a physical entity in the form of bricks and mortar are also more appealing than being left with a Bitcoin key. 

 

My concern with Bitcoin is that there could be significant changes to the Bitcoin network not limited to the charging of fees or government intervention.  

 

Good fortune to anyone that invests in this, if it's a portion of your investment strategy there's absolutely nothing wrong with it.  However when ever a discussion opens on 'investments' I'm wary of those that promote there own holdings, just as I would expect people to be suspect of me if I were to start a topic titled 'Gains of 800% expected from XYZ.com shares by the end of the this year.'

 

 

 

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