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this post was submitted on 24 Aug 2023
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What always got me was that in these bitcoin bros were always like: yeah, no more big banks, i want to use my bitcoins like money.
While at the same time go: haha some idiot bought a pizza with bitcoin which would now be worth 40k dollars now, what a dork.
And everyone goes, you need to hold, i'm gonna hold are you all gonna hold? We're all holding right? Btw look at this cool billionaire selling his bitcoin at the right time, i wish i was him.
How did they never seen that they are all just people waiting to fuck over some other people. Bot a pyramid scheme tho
Have to correct you there:
Monopoly™ money/crypto are a Ponzi scheme: their value depends on the next people who get sucked into the scheme, it can both decrease (inflation) or increase (deflation, increasing interest rates). It's important to know when to exit a Ponzi scheme before it collapses.
NFT Apes, Avatars, and other collectibles, are a pyramid scheme: the initial creator gets a cut from every successive transaction. Creators never need to exit the scheme, they'll always get more and more, even if the item's value tanks.