Ponzi schemes are so 20th century

[bwv 1080]

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

[Karl Henning]

Bizarro

[Todd]

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.

[amw]

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.

[Todd]

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.

[Spineur]

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.....

[Todd]

Satoshi Nakamoto, the bitcoin inventor owns close to a million bitcoins.  1million times 1million = ......

The NSA's budget is bigger than I thought.

[Gurn Blanston]

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.

[bwv 1080]

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/

[Todd]

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.