Lets be real

You know bitcoin is a pyramid scheme right?

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youtu.be/V2lwyuSrCg4
coindesk.com/tether-usdt-russia-china-importers
bitcointalk.org/index.php?topic=2185128.0
youtu.be/clbHyIAc8U0
bitcoinsuisse.com/news/bitcoin-suisse-publishes-company-factsheet-2019/
twitter.com/NSFWRedditVideo

Hmm...

And we are kangz sitting at the very top

How did they build it?

Enslavement of the jews, as god intended.

imagine being a slave when you could be a pharaoh

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youtu.be/V2lwyuSrCg4

1,000 wallets own 95% of the supply
Shit I wonder who’s at the top, the (((guys))) who bought in at pennies or the goys who bought in above 1k

you know everything in life is a pyramid scheme right? it's all about picking the pyramid that will bring you the most value.

The fiat pyramid ponzi is way worse. The top has cheat codes like "print more billions" and "fractional reserve banking" the bitcoin pyramid is much better.

if you don't have any crypto. you are poor forever.

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i wonder if this distribution is better or worse than general wealth distribution. we are the 99,9%

This.

No shit Keynes most top wallets are exchange cold wallets

>Keynes Top wallets
wut?

Except financially buying in at the top is really "kangz"

Then so is gold

You guys are being scammed and you don't even know it. You can't cash out large amounts of bitcoin because it's a just a scam. It's a massive global pyramid scheme like the world has never seen. Cryptotards keep putting more and more money into bitcoin without realizing that you're not able to take large amounts of money out of bitcoin. When is the last time you sold $50k of bitcoin? Never, because you literally can't.

>1,000 wallets own 95% of the supply
same thing w fiat

umm cashing out 50k is nothing idiot. coinbase can do that fucking transaction

Bitcoin is a household name though. Its the rollercoaster everyone knows by now. Buy a ticket for the ride can be fun.

imagine being early on a pyramid scheme that is going to last another 1000 year of the human race.

I find it extremely hard to believe anyone would have any difficulty moving any amount of Bitcoin for, say, 98% market price. That would probably sell instantaneously. Bitcoin is less liquid than other currencies, but it's much more liquid than a stock or a bond.

Except we are nowhere near the top. Many here have quietly been buying for more than a half-decade.
How endearing and big is your time horizon, user?

Based

Fuck off you dirty Jew banker back to Israel !!! All hail the further

It won't.
At the current price, mining rewards are worth:
$6.7B worth till the halving
$7.6B in the next year (halving included)
$23.7B till the second halving

these numbers are really fucking big, and most of it is actual cost. Even _if_ today miners have large margins and only sell a fraction, the next halving is going to bring them to ~0, forcing them to dump nearly everything. These are not empty market caps but actual expenses. It's an enormous tax on bitcoin holders.

In a way, it's a positive development. People who believe in ponzi-style scheme of bitcoin are, collectively, going to lose (even more) billions, fools parting with their money. It's a trap designed to destroy the wealth of those that never deserved it in the first place.
These numbers are for the current price. If any of the bull prediction pan out temporarily, bitcoin buyers could collectively lose hundreds of billions, while the rest of the planet watches incredulously at the massive financial suicide.

when its exchangeable its just called fiat. good luck with your understanding

Unless they can keep the price pumped to a profitable level

You know society is a pyramid scheme right?

What?

You're missing the point.
Bitcoin is a wealth extraction device. It extracts wealth from those that buy into it, destroys a part, and transfers the rest to others.
>pumped to a profitable level
only means the size of wealth extraction is perpetually increasing, which is mathematically not possible. At some point, there are no more buyers willing to part with their wealth.

common cultist
this is false equivocation fallacy
like your religion is evolution
you believe in something right

ALSO THIS CHECK EM

135 IQ SPOTTED

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Lmao. We lambo now cuz

Well described, I agree totally, the one thing you are missing is that unlike a pyramid where u need more people to contribute at a fixed rate(dollar). In bitcoin, you have lower volumes trading at higher cost. Meaning that there are less idiots paying more for less coins. Eventually they will realize that they are left holding the bags with no one to off the coins on at a exponentially higher cost. The key word is exponential.

Businesses compound sales and grow, the "pool" of idiots shrinks and becomes more faithful holders until they are not, and then boom

>the "pool" of idiots shrinks
Referring to any crypto scheme

Just cause you get justed in crypto doesnt mean you learned you lesson. Autists keep fighting till they win

Yea with NEETs who bought crypto early on at the very top as Pharos and wage cucking waging along at the bottom.

Read the Ra materials

>Questioner: Yes. You mentioned that the pyramids were an outgrowth of this. Could you expand a little bit on— Were you responsible for the building of the pyramid, and what was the purpose of the pyramid?

>Ra: I am Ra.
The larger pyramids were built by our ability using the forces of One. The stones are alive. It has not been so understood by the mind/body/spirit distortions of your culture. The purposes of the pyramids were two:
Firstly, to have a properly oriented place of initiation for those who wished to become purified or initiated channels for the Law of One.
Two, we wished then to carefully guide the initiates in developing a healing of the people whom they sought to aid and the planet itself. Pyramid after pyramid charged by the crystal and initiate were designed to balance the incoming energy of the One Creation with the many and multiple distortions of the planetary mind/body/spirit. In this effort we were able to continue work that brothers within the Confederation had effected through building of other crystal-bearing structures and thus complete a ring, if you will, of these about the Earth’s, as this instrument would have us vibrate it, surface.

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Could things like tether have a hand in helping this house of cards, or blowing over this house of cards more quicker?

Lmao, millenial wage cucks are holding the bags of early adopters.
When shit crashes, they will be holding dog shit and BRAGGING how they are saving money on taxes from loosing in the crypto bubble of 2020

tether is fractional for every dollar they get, they print out 10
real BTC price is 1k

and that also means
real sellers have to be 10x more than real buyers on low volume to move the price down

Fuck off commie. Fact is equality is a meme. The important thing is bitcoin os sound money not controlled by central banks.

meaning they have to dump hundreds and thousands of btc all at once?

i'm just curious as to whether the whole system will collapse because of tether, or because of eventual unsustainability

but tether has introduced the cryptocurrency equivalent of centralized "banking"

Few realized that Tether is competing with bitcoin.
>Chinese importers in Russia are buying up to $30 million a day of tether (USDT) from Moscow’s over-the-counter trading desks.
>Previously the merchants used bitcoin for this, but when the market crashed in 2018 they switched to tether, which is designed to maintain parity with the U.S. dollar.
coindesk.com/tether-usdt-russia-china-importers
What does that mean? That tether flipped bitcoin and nobody noticed. The last defense of a bitcoin maximalist are use case like these. They are gone. There's no utility left.
Notice that usdt has higher volume than btc for a while now, some day over a billion.

since their is no more utility, are we now seeing what can only be called wishful thinking on the part of most of the bitcoin community?

you have no idea wtf your on about

those numbers a small for a start vs the 100 T yet to be evaulated.

Whos says miners have to sell? the can go bankrupt and keep the coins, which is a pretty fucking good strategy.

You have no idea its about the displacement of an evaluation shceme, and Fiat is by far a more massive ponzi.

Also it bitcointalk.org/index.php?topic=2185128.0

article content is obviously the invention of some seething jew attempting to galvanize zog pressure against crypto-currencies, but tether can be shut down whereas bitcoin cannot

I said on low volume
if you have high volume for some reason you have liquidity providers like binance and nigermex
the system can only collapse if BTC stops going up
so that means, the miners volume has to be 10.5x the new money volume

or well if there is only 50% backed that means you will have complete collapse if new money is only 3x of miner volume

I wonder if the Ra material was actually legit or one of the most extensive and elaborate LARPs of all time. They mention a book called “initiation” in there where a large chunk of What Ra said seems to have been borrowed from.

If you aren’t FUDing remember this post and thread 12-15 months from now after I’ve sold when crypto is all over Faceburg and CNN.

>all over Faceburg and CNN.
Lmao, 2 years ago I heard a old lady in line at grocery store say "bitcoin " I knew the bubble was at its heights, later it hit 20k and crashed.

If your looking for a new pump and dump, I would recommend xrp, this idiot at work just mentioned it, and said it would revolutionize money

The USDT also immediatly gets sold again. Simply saying, the narrative for Bitcoin is that of a store of value. It simply has to prove itself in a recession that it can maintain a bull market and not crash.

so there you have it
the definition of a bubble
you only are interested if it goes UP
not what it does

You are using euphemisms which actually mean:
Even during recession, buyers have to transfer billions of their wealth to miners, which are then going to permanently destroy most of it. They also have to transfer some wealth to previous buyers.
This sequence of actions apparently makes bitcoin a store of value. To me, it looks more like new investors being buttfucked and not realizing it.

Nice comment, you have to realize, the guy who commented on his definition of bull markets only spans the 3 years he has been "investing " in crypto.
Children buying bitcoin.

I had a client come in with his 8 year old son and the kid said "Mom, you should buy a Tesla and bitcoin"

OK BUT WHAT ABOUT CHAINLINK? ARE WE GOING TO MAKE MONEY. WE ALL KNOW BITCOIN IS SHIT. BUT WHAT ABOUT STINKIES, ARE THEY GOING TO BE THE NEW ELITE?

it does not solve the oracle problem
it is a justed jason parser
so 20 cents EOY

Sir, you're actually talking about BCHSV.

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I think It's legit, these people give these books for free online and I doubt that their research team would do this for years if it would be larp.
There is also the Oahspe (1882) that gives even more in dept information (also free pdf online).

>They mention a book called “initiation” in there where a large chunk of What Ra said seems to have been borrowed from.
The information is the same because there is 1 truth.
The Ra, Yahweh, Hatonn, Jehovih and other social complexes brought the same truth, but it became distorted party because of us here and partly because of the Empire at Orion.
As you might already assume; the Illuminati follows the Orion social complex, that's why our lives are hell, they try to achieve 95% negative polarization.

found the newfags, everybody knows you literally cant cash out

Bitcoin core*. Bitcoin cash is the original bitcoin.

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>At some point, there are no more buyers willing to part with their wealth.
At some point, there will be no more people willing to keep their wealth in a bank account.
If you ever get an account frozen on a friday evening and left without money for several weeks, you could probably understand what i'm talking about.

The key is the younger generation will not store their wealth in rocks like gold like the boomers did. There will be a new store of value. It won't be fiat, it wont be rocks, it will be something digital for the next generation. As of now btc is the king for that until otherwise. Pyramid or not, everything is a pyramid, the difference is there is a finite amount of bitcoin. As tech gets better we can mine deeper cheaper for gold and other resources, but btc there are 21 mil, and actually much less due to loss of coins, so I am willing to bet on btc in the long run as a store of value, pyramid or not. If you have other good store of values please explain them.

When did i spoke about cashing out maybe you cant read?

or maybe you dont get the joke cause you're truly a newfag

Exactly. Everyone, except the suckers that keep buying bitcoin, knows that you can't cash out a large amount.

They own like 99% of crypto >exchange wallets
and whales who bought in at pennies
>commie
nice reading comprehension goyim
>bitcoin is sound money
hilarious, you tell these bitcoin cultists that bitcoin is centralized as shit and the supply and coincidentally the price is controlled by a hand ful of wallets and they’ll call you whatever they want to cope with the fact they are a late adopter and btc has zero use cases.
I remember goys just like you in 2014 preaching how bitcoin would overtake fiat and become the global currency to purchase everyday coffee. That fell off a building, so now the new cope is store of value. Except bitcoin can’t be a store of value because it doesnt actually store value and has no intrinsic value.
Theres nothing stopping anyone from creating a better bitcoin.
The entire premise of bitcoin is price manipulation hoping you can sell your bags to some other goy at a higher price.
Once all the people that actually believed in the tech left, the entire sphere is just late adopters trying to make a buck by selling higher than they bought.

>Except bitcoin can’t be a store of value because it doesnt actually store value and has no intrinsic value.

The same could be said for the USD

Value has been subjective in terms of money since dropping the gold standard

I would argue that gold will be overtaken by energy
in whatever form it is available
that is why the petrodollar is the de-facto thing

only it it goes UP
if it goes down it will be musical chairs on the way out
intrinsic value is what can you do with it
price is what you pay, value is what you get

if you pay 10k price, are you getting at least 10k value

literally last year, 170k in cash.

Did i say USD is better than BTC? Fiat bagholders will be equally as rekt as BTC holders. FED can kill BTC but they still got some (((guys))) that want to p&d some more. FED won’t even have to kill it though because it will just die on its own as more and more people realizes its only purpose is to, with terrible transaction speed, trade your btc for more than you bough it
They already have free energy technology and anti gravity craft, they’re just worried about the weapons it could create. Once they create an EMP device for this advanced tech they can finally offload this shit to the public. And let me tell you that the material(s) required to sustain/operate/create such tech is anything but thin air BTC

YOU are the newfag on top of being a poor fat, brainlet if you think you cannot cash out 50k holy kek the level of newfagness

bitcoin suisse is crypto broker (one of the largest in europe) made 42 mil of net revenue in 2018 during the bear market.
Revenue is just the fee they make buying and selling bitcoin.
And some retards think you can't cash out 50k. holy kek.

bitcoinsuisse.com/news/bitcoin-suisse-publishes-company-factsheet-2019/