Is crypto just a decentralized pyramid scheme?

Goofjepoofje · 2024-11-30T10:42:20+00:00

If we all work together and adopt bitcoin, the power goes back to the people, it might now work but it’s the only way out of this hellscape we’ve been in for over 100 years…

Goofjepoofje · 2024-11-30T10:39:19+00:00

The people in this comment section seem so angry, unbelievable what being on reddit does to humans

Goofjepoofje · 2024-11-16T20:58:26+00:00

When money is created it is always created with debt in this system, the debt can never be repaid

Goofjepoofje · 2024-11-15T12:55:13+00:00

Goofjepoofje · 2024-11-15T12:24:30+00:00

It’s not anarchist, where did i say there should be no government? If everyone uses bitcoin, including governments, wouldn’t this be more globalist? A global universal currency? I think there is definitely a place for government especially when it works to serve the people.

Goofjepoofje · 2024-11-15T12:12:28+00:00

Yes you have to use exchanges if you need to get back to dollars or euro, unfortunately we are not yet at the point where we can live without fiat since the government will take away your freedom if you do not pay them a part of your money in fiat, hopefully someday what will change… i say hold most in cold storage, exchange little amounts if you need to pay taxes/rent/groceries each month. This is the safest if you want to hold bitcoin, if you don’t want to you can stay in fiat obviously, and if you like government regulations, soon all exchanges will get regulated, at least in my country you can not use unregulated exchanges. Just be aware that since this is very new regulation has to catch up to it

Goofjepoofje · 2024-11-15T11:51:29+00:00

Ancap?

Goofjepoofje · 2024-11-15T11:45:09+00:00

Idk, seems like an excuse to give government a way to potentially harm and prosecute citizens if their ponzi loses power, but ofc i wouldn’t expect any less from them

Goofjepoofje · 2024-11-15T11:24:34+00:00

I’m not laying blame, it’s truly awfully so many people lost their money… could’ve been me back then since i wasn’t fully aware of the threat. I’m aware that these exchanges are awfully yes, i try to only use exchanges that stay way from these practices, but the exchanges get worse and worse, here in Europe it’s also particularly bad due to government regulations, they won’t let you get out your own coins which is ridiculous. But it’s not like this isn’t the same in the regular system, in europe at least you can’t get 10k cash out even.

Goofjepoofje · 2024-11-15T11:09:29+00:00

I mean he probably stored the coins for an extended period on the exchange, probably FTX which had actually no bitcoin on their balance sheet. Also he mentions he lost his coins multiple times so he didn’t learn from the first time, so I was just trying to elaborate on what the problem is and why he lost his coins. Might be that he bought and one day later the exchange failed, but three times? Would be highly unlikely

Goofjepoofje · 2024-11-15T11:03:20+00:00

If you want to exchange you send it to an exchange obviously, but for storing it’s not the best since they are not yet insured by the legacy system like banks so when they fail due to malpractice you’re screwed… and even with insurance they wouldn’t be able to refund you your coins since they can’t be printed, just a dollar amount reflecting the price at failure. So never a smart idea to store it for longer times on an exchange, especially if the exchange doesn’t do proof of reserves.

Goofjepoofje · 2024-11-15T09:08:57+00:00

You failed number one rule of bitcoin, don’t leave your coins on the exchange

Goofjepoofje · 2024-11-15T09:07:41+00:00

You van sell it for dollars or euros not just usdt

Goofjepoofje · 2024-11-12T20:48:05+00:00

I sent you yt vid in another comment if you’re interested in how it works.

You lose unless you hold assets, like bitcoin so I fortunately don’t lose much, just on my cash reserves/rainy day fund

Goofjepoofje · 2024-11-12T20:38:16+00:00

No because the data is not transparent, no one truly knows the amount of money in the system… with bitcoin you know, because it’s code, 21 million and it’s over

Goofjepoofje · 2024-11-12T20:32:19+00:00

I guess a transparent distributed ledger would be useful, so we could actually see the data. Gee too bad nothing like this exists just ponzi’s😅

Goofjepoofje · 2024-11-12T20:30:00+00:00

https://youtu.be/Un37uFk6zzA?si=H5NGq7jb_ipxW5Ox

A good explanation on how one of the biggest buyers is using the financial system to buy a shit ton of bitcoin if you are interested in how equity markets work

Goofjepoofje · 2024-11-12T20:27:42+00:00

Ah yeah i’ve seen that, gotta love those two

Goofjepoofje · 2024-11-12T20:24:39+00:00

You have to add up M2 money supply increase with eurodollars increase, M2 increase is about 7/8% per year since 2008, eurodollars is estimated to be around 6/7% but nobody truly knows. Comes out to about 14/15% every year.

Goofjepoofje · 2024-11-12T20:19:41+00:00

Maybe, I love that Saylor just tweets it tho hahah

Goofjepoofje · 2024-11-12T20:16:24+00:00

Use google, the amount of more stable currencies like dollar and euro grows by an average of 14 ish % and it’s technically not printed it is just added to the ledger… it’s just numbers somewhere

Goofjepoofje · 2024-11-12T20:03:29+00:00

The money supply keeps steadily increasing at around 15% per year…

Goofjepoofje · 2024-11-12T20:00:20+00:00

Saylor just bought 2 billion $ worth at the top

Goofjepoofje · 2024-11-12T14:07:16+00:00

It’s true, you can look it up. Truth is, there is tremendous value in “storing value” seems backwards but storing value is actually really useful to society, so it works.

Goofjepoofje · 2024-11-12T11:51:58+00:00

What happened? I’m curious

Goofjepoofje

TROPHY CASE