Author Topic: Ponzi schemes are so 20th century  (Read 448 times)

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Offline bwv 1080

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Ponzi schemes are so 20th century
« on: December 08, 2017, 10:23:59 PM »
Witness the Nakamoto Scheme, now about 10x the size of Bernie Madoff’s firm at its peak:


https://prestonbyrne.com/2017/12/08/introducing-the-nakamoto-scheme/

With bitcoin futures beginning to trade next week, the issue now is how much damage bitcoin will cause to the financial system when it collapses
Cogito cogito ergo cogito sum

Online k a rl h e nn i ng

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Re: Ponzi schemes are so 20th century
« Reply #1 on: December 09, 2017, 05:41:26 AM »
Bizarro
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Offline Todd

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Re: Ponzi schemes are so 20th century
« Reply #2 on: December 09, 2017, 06:39:10 AM »
Bitcoin's $15000+ price is quite rational if you ask me.  And there is no way that such a secure cryptocurrency can be hacked and cause economic damage. (The recent $64 million hack/theft was a one time anomaly.)  Futures trading is a solid idea with no downside.
The universe is change; life is opinion.   Marcus Aurelius, Meditations

Offline amw

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Re: Ponzi schemes are so 20th century
« Reply #3 on: December 09, 2017, 06:51:07 AM »
Indeed, I refinanced my payday loans with a subprime mortgage in order to invest in bitcoin and Puerto Rican triple-tax-exempt bonds just five minutes ago. It's going well so far. You should all do the same thing.

Offline Todd

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Re: Ponzi schemes are so 20th century
« Reply #4 on: December 09, 2017, 06:57:12 AM »
Here's all the proof you will ever need that Bitcoin is serious and stable and a solid investment with no risk: John McAfee Bullish on Bitcoin Price Reaching $1 Million by 2020.
The universe is change; life is opinion.   Marcus Aurelius, Meditations

Spineur

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Re: Ponzi schemes are so 20th century
« Reply #5 on: December 09, 2017, 08:30:03 AM »
Here's all the proof you will ever need that Bitcoin is serious and stable and a solid investment with no risk: John McAfee Bullish on Bitcoin Price Reaching $1 Million by 2020.
Satoshi Nakamoto, the bitcoin inventor owns close to a million bitcoins.  1million times 1million = ......
By the way, it looks like the bitcoin inventors knew that a lot of subdivision of a bitcoin were going to be needed
1/100000000 is the smallest division of a bitcoin and is called a Satoshi.  Now the test: how many satoshis for a hamburger.....

Offline Todd

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Re: Ponzi schemes are so 20th century
« Reply #6 on: December 09, 2017, 08:38:14 AM »
Satoshi Nakamoto, the bitcoin inventor owns close to a million bitcoins.  1million times 1million = ......


The NSA's budget is bigger than I thought.
The universe is change; life is opinion.   Marcus Aurelius, Meditations

Offline Gurn Blanston

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Re: Ponzi schemes are so 20th century
« Reply #7 on: December 09, 2017, 10:27:11 AM »
That's funny, when I saw the thread title I came here with the intention of posting "really? Have you looked at Bitcoins lately?".  Guess you have. ::)

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Offline bwv 1080

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Re: Ponzi schemes are so 20th century
« Reply #8 on: December 09, 2017, 11:02:19 AM »
At $1 million the bitcoin network would consume more electricity than the US

https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/
Cogito cogito ergo cogito sum

Offline Todd

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Re: Ponzi schemes are so 20th century
« Reply #9 on: December 15, 2017, 07:37:15 AM »
Bitcoin buyers should be prepared to lose all their money, top UK regulator warns

I'm not sure this is a particularly stark warning.  Decades ago I took to heart advice that one must be prepared to lose everything in any investment outside of insured bank accounts, Treasuries, and gold. 
The universe is change; life is opinion.   Marcus Aurelius, Meditations