WendyOneP
03-17

How is Bitcoin not just a glorified ponzi scheme?

Genuinely asking, not here to troll. Bitcoin has been popular for 15 years, but it still doesn’t seem to have a mainstream, everyday use. You can’t just walk into most stores and buy groceries or gas with it. Yet, every time it surges, people start calling it "the future of finance," but that future never really happens.

I keep hearing about institutional money coming in, but if it’s mostly hedge funds and whales pushing the price up, how does that make it a real currency? If regular people are just there to provide liquidity for the big dogs, how is this different from a glorified pump-and-dump?

Don't get me wrong I'm a Bitcoin fan and have been buying and selling it for years now. But I cringe everytime I hear “It’s digital gold”.. Gold has a use beyond its speculative value. It can be made into jewelry, art.. People want to have it because its a ‘real’ thing you can hold in your hands! Bitcoin's only real use is making anonymous transactions that regular humans don't usually need to make.

Am I missing something here, or is Bitcoin actually just a bigger fool scheme?

Strategy Reports 13.7% YTD on Bitcoin: Is All-in a Bold or Blind Move?
Strategy missed Wall Street estimates for both revenue and earnings in Q1 2025, but still reported a 13.7% year-to-date yield on its massive Bitcoin holdings. Strategy’s CFO announced that the firm is now raising its Bitcoin yield target for the year to 25%, and setting a $15 billion target for Bitcoin-related gains. ------- Do you see crypto as a money-maker or a dangerous speculative tool? Can Strategy sustain its Bitcoin - Stock cycle?
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Comments

  • LongMSTR
    04-23
    LongMSTR
    Fair question,


    It can depend on your world view. For many bitcoin advocates, they believe our current money is broken and is the root cause for rising inequality, wealth gap growing, and general social environment degrading. When governments can print money in a matter of seconds on their computers, what does that say about how your time and energy is valued? If you work your but off for 40,50,60 hours a week to feed your family and a burecrat somewhere can create that same ‘value’ at the touch of a button?


    Coming back to your question of digital
    Gold. Agreed that gold has industrial use case but the primary driver of golds price is the scarcity and store of value. Even gold jewellery is store of value, passed down generation to generation in many cases.


    Bitcoins fixed supply of 21 million, with a pre-programmed deflationary supply schedule delivers its store of value attributes.


    Here are 6 videos that will explain better if your interested to learn;
    https://startwithbitcoin.com/
  • NoraPoe
    03-19
    NoraPoe
    Interesting perspective
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