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Tafkam Hokie

Joined: 10/07/1999 Posts: 35179
Likes: 13640

What's this?

The last sentence is absolutely true


Ponzi schemes are purely a matter of theft disguised as investment. I'll grant that isn't what cryptos are.

But the bottom line is a crypto has no inherent value besides what investors perceive it to be since it is not backed by a commodity, anything that creates value in the marketplace, or a government with tax-and-spend authority. If you want that value to go up. pimping how awesome it is so everyone wants to buy more is certainly a way to do that.

(In response to this post by PhotoHokieNC)

Posted: 05/10/2021 at 12:31PM


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Current Thread:
 
  Okay, I'm really now starting to think Crypto is gonna crash/correct soon.. -- HokieSignGuy 05/10/2021 10:35AM
  Friend told me: start exiting when everyone else is entering -- VTDante 05/10/2021 4:18PM
  Good to heed counter trend in investing ** -- ColoVT82 05/10/2021 4:45PM
  Dogecoin dropped 20% during Musks stint on SNL talking about it ** -- 133743Hokie 05/10/2021 3:42PM
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  I stopped taking Lounge investment advice when... -- bluehokie 05/10/2021 11:26AM
  They're watching ethereum vs bitcoin -- lchoro 05/10/2021 11:13AM
  Now wait...regarding your last line... -- vthokieq 05/10/2021 11:11AM
  ^^^Lounge Mission Statement^^^ ** -- PhotoHokieNC 05/10/2021 11:22AM
  One required part of every Ponzi scheme is the promoter. -- GreenvilleVT 05/10/2021 11:02AM
  That's all absolutely true, however unrelated to crypto. ** -- PhotoHokieNC 05/10/2021 11:23AM
  The last sentence is absolutely true -- Tafkam Hokie 05/10/2021 12:31PM
  I spent the first 3 paragraphs trying to figure out which poster you were -- Late 80s Hokie 05/10/2021 10:55AM
  ^^^still doesn't get it^^^ ** -- PhotoHokieNC 05/10/2021 11:23AM
  Every time somebody posts something like like, crypto goes up. ** -- PhotoHokieNC 05/10/2021 10:40AM
  Choo Choo. -- HokieSignGuy 05/10/2021 10:46AM
  I have it on pretty good authority given my inside position -- Happy Dog 05/10/2021 10:44AM

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