Ah yes bitcoin, the currency most known for being the most stable thing that big shady Companies dont gamble and manipulate the value of…
Also famously the most secure way to hold on to your money, as no bitcoins have ever been stolen by someone else🤡
How much of your life savings are tied up in extremely high risk investments like bitcoin? And do you really think the government doesnt know about your money when you convert it back to cash? And do you actually think that banks could just gamble your money away? You know that laws and FDIC exist, right?
Also famously the most secure way to hold on to your money, as no bitcoins have ever been stolen by someone else🤡
No, not once, ever, bitcoin was stolen from someone, without being authorized by the owner. This kind of talk shows that you’re either disingenuous or ignorant. Which is it?
Money is stolen from bank accounts all the time because people authorize scammers to do that. Does that mean your bank account has a problem? I always heard stories on people who lost their money and their banks didn’t refund it because they authorized the payment. It’s the same with bitcoin. If you’re dumb enough to give your private key to a scammer, that’s your problem.
And do you actually think that banks could just gamble your money away? You know that laws and FDIC exist, right?
Tell that to the 2008 crowds, when whole pension funds got wiped due to bankers’ scams, and the FDIC wasn’t enough to cover the gambling game the banks were playing with MBS (mortgage-backed securities). Spare me your ignorance on the matter. The FDIC barely has 1% of the total deposited money in all banks. So once a collapse happens again, because bankers will, AS USUAL, gamble with money they don’t own (since no more Glass-Steagall), then the only solution will be for the FED to do another Ben Bernanke and print billions, if not trillions, again, and then inflation will sky-rocket even more, while I’m getting richer because bitcoin loves liquidity. Print more, baby!
Your trust in government institutions is just pathetic, and you’ll learn, sooner or later, that no one gives a flying f**k about you other than yourself. Many have learned that the hard way.
bitcoin is stolen all the time sorry the social medias you use for your news content only show you positive stories about crypto, you should try doing better research.
Like I said before, bitcoin isn’t stolen unless the private key is handed to someone. So, unless you present an opposing case, you better stfu and not embarrass yourself. I’m not holding my breath to get any evidence from you, because people like you don’t know the difference between hardware wallet, software wallet, cold storage, exchange, etc. So how the hell could you make an argument in the first place? Your best bet is to monkey-copy what you hear on social media without understanding any of it means. All you do is hear “stolen” and “bitcoin” and you think all bitcoins can be stolen. Good job! Very intelligent on your part.
Still, no argument other than shaming. What are you a 9 yo girl?
I’m a PhD in particle physics, master in mathematics, successful software engineer with a pay in the high 6 figures, and most certainly smarter than you will ever be. Now explain to me why Bitcoin, a decentralized currency where no corrupt politicans or bankers have control, is bad, and I’m happy to change my mind.
But the reality is, you’re much less than knowing anything about bitcoin. You just blindly repeat propaganda because you’re too dumb to read a book. Spare me your ignorance.
Go ask Black Rock why they’re creating a bitcoin ETF. I guess black rock is stupid too.
“Tried” bitcoin? What does that even mean? Bitcoin is still working, producing a block every 10 minutes, 100% reliably. Go tell Black Rock that they’re “too late”.
So far you’ve presented two arguments for bitcoin:
Traditional finance are a bunch of crooks who want to gamble with your money.
How can bitcoin be a scam if traditional finance likes it so much?
Now, eventually, it’s just possible that a lightbulb is going to turn on and you’re going to realise the inherent contradiction in those two arguments. I’m not gonna hold my breath though.
The reason is simple. IF bitcoin were to become something big, then traditional finance will also want a piece of that cake. It’s that simple. Traditional finance kept fighting Bitcoin to the last breath. Larry Fink himself, black rock CEO, called Bitcoin a “money laundering index”, and look now he’s gonna make an ETF for Bitcoin. He learned his lesson late, like everyone else does eventually.
They can profit from Bitcoin, and I’m totally OK with that, as long as my hard work and savings are far from their dirty hands. That’s why Bitcoin is great.
“Traditional finance kept fighting Bitcoin to the last breath.”
This, right here, is how I know that you don’t have a clue what you’re on about.
Traditional finance never “fought” bitcoin. Traditional finance in fact invested heavily in it, accounting for the vast majority of the climb to $69,000. You think all that came from retail? That was mostly institutional investment.
And the collapse after $69,000 was institutional investment getting out and never coming back.
Yes, Black Rock sees the ability to profit from creating a bitcoin ETF. There’s profit to be made in anything that suckers will throw their money into. The trick to making it big in a gold rush is to be the guy selling pans and shovels, and that’s exactly where Black Rock and all the other big guys have settled themselves on bitcoin.
But the fact that someone got rich selling snake oil isn’t evidence that the snake oil works. If you were trying to argue the case for investing in Black Rock, you’d have made a good argument. If you’re trying to argue the case for bitcoin, all you’ve demonstrated is your ignorance.
Traditional finance never “fought” bitcoin. Traditional finance in fact invested heavily in it, accounting for the vast majority of the climb to $69,000. You think all that came from retail? That was mostly institutional investment.
And the collapse after $69,000 was institutional investment getting out and never coming back.
That’s all your opinion. You building a nice fantasy world for yourself is up to you. Also remember, this is in 2021, so EVEN if you were right, which you aren’t, you’re still wrong because that’s 12 years after bitcoin was created.
If you’re trying to argue the case for bitcoin, all you’ve demonstrated is your ignorance.
But the fact that someone got rich selling snake oil isn’t evidence that the snake oil works.
As opposed to you having evidence that bitcoin is snake oil? What have you demonstrated exactly other than calling me “ignorant”? Bitcoin works. It does exactly what it’s made to do. Whether you like it or not. So much for “snake oil” when things work 😉.
It’s your (dumb) opinion, which I’m happy you have. You’re allowed to be as dumb as you like. No problem there, and believe me, I’m genuinely happy with that. Everyone to their own. It’s an opinion after all, and the dumb will act dumb until their dumbness causes them harm. It’s the story of life.
HOWEVER…
The reality of the situation is that I’m already benefiting from bitcoin. I have full freedom and autonomy (and even privacy with Monero) with my money, and I can move freely with my money in my brain wherever I go without anyone knowing how much I own. I’m protected from any foul play even if things get Venezuela, Argentina or Lebanon tomorrow wherever I am. People living on the cushy cushions of the temporary stability of the current system in the west will only learn their lesson in the right time (like many did in 2008). You deserve all the inflation you’re getting now. Enjoy!
I never said that anything I say is always correct because of my credentials. But because your iq is 69 you think that.
I said that I’m happy to listen to your argument why bitcoin is bad. I literally said that. It’s up there. So your reply only shows that your iq is so low you can’t even read plain English. This is the kind of general crowd that opposes bitcoin. It’s the one that never reads and their main information source is social media.
Just because they have lots ofomey doesn’t make them smart. If I stopped having any morals I could be a rich piece of shit a lot easier. Still wouldn’t make me smarter.
I doubt you could be rich by just having “no morals”. Many people say that while they don’t know the difference between FED balance sheet and treasury. Excuse me for not giving a flying f**k what you think when your argument for not being rich is taken from a 1980s cartoon. Read a book.
Bitcoin is evil in the sense that Bitcoin mining has likely done irreparable harm to the environment through energy usage and it’s associated pollution. I also find it to be a very predatory market that relies on small investors to bolster the overall value, but usually gives little to no benefit in return for that investment. All of the hype and media around cryptocurrency encourages people in precarious positions to buy in with the hopes of making it big. It’s just gambling.
In my experience, people who use and trade cryptocurrency in significant quantities are likely either gambling on it, or using it as money laundering for nefarious things.
Before you jump into your tirade about how you have all this education and how you’re so much smarter than everyone else, I’ll head you off at the pass to say that you probably know a lot more about computer and software engineering than I do. However, I have a fairly extensive education in the humanities and biological sciences. So if we’re going to be all stupid about it, I guarantee that I’ll be more useful and more employable in any kind of post-crash society than you would be, so I’d encourage you to take other kinds of intelligence into consideration before you get all sanctimonious about stuff like this; especially in subjects that don’t really matter that much in the grand scheme of things.
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