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Post by Delta9 on Jan 9, 2018 11:01:52 GMT
Explain why it is different then... They are real products. Bitcoin is also a real product with many uses. Where did your dislike of it come from? You clearly don't know much about it yet seem to have strong opinions on it.
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Post by Telemachus on Jan 9, 2018 11:11:28 GMT
To some extent yes, but there is a major fundamental difference in that when you buy shares, you are buying a share of the company's assets - actual things like property, equipment, resources, expertise etc. Ditto commodities. These have value on the macro scale and so are much less likely to become worthless overnight. Unlike a bitcoin which has no intrinsic value. But of course a company in difficulty can still get into insolvency and have its share price crash to near zero so both schemes are risky, but bitcoin is much more risky. I will agree that it is more risky, but that wouldn't turn it into a pyramid scheme. The similarity is that the thing itself is intrinsically completely valueless. Pyramid schemes tend to have a similar concept in that the thing you are buying into has no intrinsic value - or at least a value far less than the cost of buying into it. It only works so long as everyone agrees on the value. I'll agree that one difference is that bitcoin doesn't require an every increasing membership so perhaps the association isn't exact, but it carries the same sort of problems.
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Post by Deleted on Jan 9, 2018 11:13:46 GMT
Bitcoin is also a real product with many uses. Where did your dislike of it come from? You clearly don't know much about it yet seem to have strong opinions on it. ππππ ok.
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Post by Delta9 on Jan 9, 2018 11:17:44 GMT
Bitcoin is also a real product with many uses. Where did your dislike of it come from? You clearly don't know much about it yet seem to have strong opinions on it. ππππ ok. There is nothing more annoying than someone with strong opinions about something they know fuck all about.
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Post by Delta9 on Jan 9, 2018 11:19:58 GMT
I will agree that it is more risky, but that wouldn't turn it into a pyramid scheme. The similarity is that the thing itself is intrinsically completely valueless. Pyramid schemes tend to have a similar concept in that the thing you are buying into has no intrinsic value - or at least a value far less than the cost of buying into it. It only works so long as everyone agrees on the value. I'll agree that one difference is that bitcoin doesn't require an every increasing membership so perhaps the association isn't exact, but it carries the same sort of problems. I think you need to look up what a pyramid scheme is. Value of the product has nothing to do with it. Pyramid schemes pay people to enroll others.
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Post by Telemachus on Jan 9, 2018 11:20:11 GMT
There is nothing more annoying than someone with strong opinions about something they know fuck all about. Welcome to the modern world! We may not know the ins and outs of how it is mined and traded, but can see it for the principle of what it is! As I have said and you have demonstrated, you can make money from it βon the way upβ but if you get carried away, you will eventually lose money.
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Post by Deleted on Jan 9, 2018 11:23:20 GMT
There is nothing more annoying than someone with strong opinions about something they know fuck all about. Whatever π
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Post by Delta9 on Jan 9, 2018 11:23:42 GMT
There is nothing more annoying than someone with strong opinions about something they know fuck all about. Welcome to the modern world! We may not know the ins and outs of how it is mined and traded, but can see it for the principle of what it is! As I have said and you have demonstrated, you can make money from it βon the way upβ but if you get carried away, you will eventually lose money. You don't seem to have any understanding of its use.
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Post by Telemachus on Jan 9, 2018 11:23:43 GMT
The similarity is that the thing itself is intrinsically completely valueless. Pyramid schemes tend to have a similar concept in that the thing you are buying into has no intrinsic value - or at least a value far less than the cost of buying into it. It only works so long as everyone agrees on the value. I'll agree that one difference is that bitcoin doesn't require an every increasing membership so perhaps the association isn't exact, but it carries the same sort of problems. I think you need to look up what a pyramid scheme is. Value of the product has nothing to do with it. Pyramid schemes pay people to enroll others. This is true, but if getting paid to enroll others added real value to the thing (eg advertising to increase sales) it wouldnβt be a pyramid scheme. It is the combination of the need for continuous and exponential growth, AND that the thing itself is pretty valueless, that makes a pyramid scheme. Bitcoin meets half of the criteria.
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Post by Delta9 on Jan 9, 2018 11:24:07 GMT
There is nothing more annoying than someone with strong opinions about something they know fuck all about. Whatever π Excellent response you thick cunt.
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Post by Telemachus on Jan 9, 2018 11:24:59 GMT
Welcome to the modern world! We may not know the ins and outs of how it is mined and traded, but can see it for the principle of what it is! As I have said and you have demonstrated, you can make money from it βon the way upβ but if you get carried away, you will eventually lose money. You don't seem to have any understanding of its use. Of course I do, it is a βvirtual currencyβ. You can buy things with it, and trade it. Great, but behind it is nothing, as opposed to say the Bank of England.
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Post by Deleted on Jan 9, 2018 11:25:32 GMT
Excellent response you thick cunt. ππππ. Obviously not that thick, I waited before selling my Bitcoins ππππ
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Post by Delta9 on Jan 9, 2018 11:26:11 GMT
I think you need to look up what a pyramid scheme is. Value of the product has nothing to do with it. Pyramid schemes pay people to enroll others. This is true, but if getting paid to enroll others added real value to the thing (eg advertising to increase sales) it wouldnβt be a pyramid scheme. It is the combination of the need for continuous and exponential growth, AND that the thing itself is pretty valueless, that makes a pyramid scheme. Bitcoin meets half of the criteria. Bitcoin doesn't need constant growth. Its value rises when it grows but that is not its primary function.
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Post by Delta9 on Jan 9, 2018 11:27:34 GMT
You don't seem to have any understanding of its use. Of course I do, it is a βvirtual currencyβ. You can buy things with it, and trade it. Great, but behind it is nothing, as opposed to say the Bank of England. It is a lot more than a currency. It is an internet protocol with many uses. The value token is a small part of that.
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Post by Delta9 on Jan 9, 2018 11:28:39 GMT
Excellent response you thick cunt. ππππ. Obviously not that thick, I waited before selling my Bitcoins ππππ You never had any, you are too thick to figure out how to use it.
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