@permiepurveyor.bsky.social
You keep describing a Greater Fools Scheme.
en.wikipedia.org/wiki/Greater...
Why try to make Bitcoin fit the definition of a ponzi when it clearly doesn't, and there is another definition that it does fit?
en.wikipedia.org/wiki/Greater...
Why try to make Bitcoin fit the definition of a ponzi when it clearly doesn't, and there is another definition that it does fit?
Greater fool theory - Wikipedia
en.wikipedia.org
December 6, 2025 at 11:09 AM
You keep describing a Greater Fools Scheme.
en.wikipedia.org/wiki/Greater...
Why try to make Bitcoin fit the definition of a ponzi when it clearly doesn't, and there is another definition that it does fit?
en.wikipedia.org/wiki/Greater...
Why try to make Bitcoin fit the definition of a ponzi when it clearly doesn't, and there is another definition that it does fit?
You said you own Bitcoin. If it is a ponzi, then you would be getting checks in the mail for owning it (returns). Yet you don't get checks in the mail for owning it. The fact that the only way to profit is to sell, means it is most certainly not a ponzi. Greater fool scheme, maybe. Ponzi, no.
December 6, 2025 at 10:43 AM
You said you own Bitcoin. If it is a ponzi, then you would be getting checks in the mail for owning it (returns). Yet you don't get checks in the mail for owning it. The fact that the only way to profit is to sell, means it is most certainly not a ponzi. Greater fool scheme, maybe. Ponzi, no.
How does that sound like Bitcoin to you? Bitcoin has no clients, it isn't a company, there is no promise of profit, it doesn't spend any energy trying to attract new clients, it doesn't even provide returns. Not one sentence in that definition matches Bitcoin...
December 6, 2025 at 8:18 AM
How does that sound like Bitcoin to you? Bitcoin has no clients, it isn't a company, there is no promise of profit, it doesn't spend any energy trying to attract new clients, it doesn't even provide returns. Not one sentence in that definition matches Bitcoin...
I think the halving had a major effect in the past. As halvings get smaller, the change in percent of total becomes less, which means a smaller impact on the ecosystem as a whole. The halving change now is getting inconsequential, so other factors like global liquidity play a larger part in price.
December 6, 2025 at 7:22 AM
I think the halving had a major effect in the past. As halvings get smaller, the change in percent of total becomes less, which means a smaller impact on the ecosystem as a whole. The halving change now is getting inconsequential, so other factors like global liquidity play a larger part in price.
A couple hundred million people, of all shapes and sizes, from all over the world own/use Bitcoin. It's super unfortunate that so many people seem to hate it because of some internet trolls and bots. Sad to see something that is used for amazing things every day be summarily dismissed. 😒
December 6, 2025 at 7:03 AM
A couple hundred million people, of all shapes and sizes, from all over the world own/use Bitcoin. It's super unfortunate that so many people seem to hate it because of some internet trolls and bots. Sad to see something that is used for amazing things every day be summarily dismissed. 😒
Finlands district heating systems include being powered by natural gas, peat, and coal. Their grid is powered mostly fossil free. Aren't they basically upgrading from fossil heat to carbon free electric heat?
December 5, 2025 at 7:40 AM
Finlands district heating systems include being powered by natural gas, peat, and coal. Their grid is powered mostly fossil free. Aren't they basically upgrading from fossil heat to carbon free electric heat?
Yeah man, there are no inherent limitations in accessing a miner (like some kind of registration or rules), and the mining software is open source, once again no requirements to use.
It's a minor miscommunication based on semantics, no need for to get testy. 😀
It's a minor miscommunication based on semantics, no need for to get testy. 😀
December 5, 2025 at 6:44 AM
Yeah man, there are no inherent limitations in accessing a miner (like some kind of registration or rules), and the mining software is open source, once again no requirements to use.
It's a minor miscommunication based on semantics, no need for to get testy. 😀
It's a minor miscommunication based on semantics, no need for to get testy. 😀
My goodness, back to the toxic ad hominum attacks. 🙃
I don't mine, I don't have any useful edge to make it profitable and am not really interested in the participation aspect of it. Although I wish I was.
I don't mine, I don't have any useful edge to make it profitable and am not really interested in the participation aspect of it. Although I wish I was.
December 5, 2025 at 6:31 AM
My goodness, back to the toxic ad hominum attacks. 🙃
I don't mine, I don't have any useful edge to make it profitable and am not really interested in the participation aspect of it. Although I wish I was.
I don't mine, I don't have any useful edge to make it profitable and am not really interested in the participation aspect of it. Although I wish I was.
Yeah, mining profitability is a dog eat dog world. But that doesn't change the fact that there are no gatekeepers preventing access to anyone to participate.
Profitability is a whole other discussion, and I think it is an interesting network characteristic that will lead to interesting things.
Profitability is a whole other discussion, and I think it is an interesting network characteristic that will lead to interesting things.
December 5, 2025 at 6:28 AM
Yeah, mining profitability is a dog eat dog world. But that doesn't change the fact that there are no gatekeepers preventing access to anyone to participate.
Profitability is a whole other discussion, and I think it is an interesting network characteristic that will lead to interesting things.
Profitability is a whole other discussion, and I think it is an interesting network characteristic that will lead to interesting things.
*You are supposed to say developed and underdeveloped countries.* 😉
I made no claim that it was attainable by anyone, I said it was available to anyone. My point is that there are no gatekeepers preventing them access.
I made no claim that it was attainable by anyone, I said it was available to anyone. My point is that there are no gatekeepers preventing them access.
December 5, 2025 at 6:24 AM
*You are supposed to say developed and underdeveloped countries.* 😉
I made no claim that it was attainable by anyone, I said it was available to anyone. My point is that there are no gatekeepers preventing them access.
I made no claim that it was attainable by anyone, I said it was available to anyone. My point is that there are no gatekeepers preventing them access.
The difference is that they are a 'financial asset'. They don't have govs/central banks/wealth funds/hedge funds/businesses holding them. They don't have huge options/futures/derivitives/etf markets built around them in every major financial market globally. Or 'Factories' all around the world.
December 5, 2025 at 6:13 AM
The difference is that they are a 'financial asset'. They don't have govs/central banks/wealth funds/hedge funds/businesses holding them. They don't have huge options/futures/derivitives/etf markets built around them in every major financial market globally. Or 'Factories' all around the world.
Bitcoin doesn't do anything about hyperinflation, but it provides an option for people who are subjected to a hyperinflating currency to exit that currency.
December 5, 2025 at 6:06 AM
Bitcoin doesn't do anything about hyperinflation, but it provides an option for people who are subjected to a hyperinflating currency to exit that currency.
Mining size isn't linear with bitcoin use. It doesn't need to use all silicon on earth, and the mining reward would never get anywhere close to paying for that anyway. The entire network can run at full capacity using only a single bitcoin miner.
December 5, 2025 at 6:02 AM
Mining size isn't linear with bitcoin use. It doesn't need to use all silicon on earth, and the mining reward would never get anywhere close to paying for that anyway. The entire network can run at full capacity using only a single bitcoin miner.
It's simple. Bitcoin doesn't provide returns and doesn't have any central actors. In order to make any money, you have to sell it to someone else. It fits the definition of a Greater Fool Scheme because you have to sell it. No need to try and finagle another definition to try and make it fit.
December 5, 2025 at 5:59 AM
It's simple. Bitcoin doesn't provide returns and doesn't have any central actors. In order to make any money, you have to sell it to someone else. It fits the definition of a Greater Fool Scheme because you have to sell it. No need to try and finagle another definition to try and make it fit.
Being paid in equity makes you invested in the company. Doesn't really matter how we term it, the point is, people getting in early is a requirement. It's literally impossible to not have early investors in an asset. Somebody has to go first.
December 5, 2025 at 5:57 AM
Being paid in equity makes you invested in the company. Doesn't really matter how we term it, the point is, people getting in early is a requirement. It's literally impossible to not have early investors in an asset. Somebody has to go first.
The cost of a smartphone.
December 5, 2025 at 5:42 AM
The cost of a smartphone.
I stand by the statement. The barrier to entry is dial up internet or mobile data, an electrical outlet, and a machine for the cost of a smartphone. Don't have to be a gov, be from any specific place, have any degree, be a registered bank, or trader, or have permission from anyone.
December 5, 2025 at 5:41 AM
I stand by the statement. The barrier to entry is dial up internet or mobile data, an electrical outlet, and a machine for the cost of a smartphone. Don't have to be a gov, be from any specific place, have any degree, be a registered bank, or trader, or have permission from anyone.
Yeah, not quite sure how to respond to that one...
December 5, 2025 at 5:35 AM
Yeah, not quite sure how to respond to that one...
We already have these people exerting ever growing control. Like dictators with resistance, targeting of groups like trans folks, limiting access to Healthcare like abortions. We are one step away from a trumpian figure see a social media post, point and yell 'antifa!' and be able to freeze accounts
December 5, 2025 at 5:27 AM
We already have these people exerting ever growing control. Like dictators with resistance, targeting of groups like trans folks, limiting access to Healthcare like abortions. We are one step away from a trumpian figure see a social media post, point and yell 'antifa!' and be able to freeze accounts
Thats one way to deal with volatile assets for sure.
"Concentration builds wealth, diversification maintains it." - Warren Buffet
"Concentration builds wealth, diversification maintains it." - Warren Buffet
December 5, 2025 at 5:19 AM
Thats one way to deal with volatile assets for sure.
"Concentration builds wealth, diversification maintains it." - Warren Buffet
"Concentration builds wealth, diversification maintains it." - Warren Buffet
Well now you are jumping back to current definitions instead of original theory... You are right, it doesn't fit the definition of modern 'fiat currency'. It functions more like gold did when these concepts were originally created.
December 5, 2025 at 2:56 AM
Well now you are jumping back to current definitions instead of original theory... You are right, it doesn't fit the definition of modern 'fiat currency'. It functions more like gold did when these concepts were originally created.
That's the thing, original economic theory on this subject doesn't encompass Bitcoin because it was developed prior to the digital age. But to evaluate theoretically, it functions more like money, which is neither a security nor a commodity.
December 5, 2025 at 2:38 AM
That's the thing, original economic theory on this subject doesn't encompass Bitcoin because it was developed prior to the digital age. But to evaluate theoretically, it functions more like money, which is neither a security nor a commodity.
I personally dont care if it is classified as a security or comodity. It doesnt change Bitcoin either way. But they are classifications with definitions. If you are going to use the classifications, you should abide by the definitions. That is what the SEC has done, under Obama, Trump, and Biden.
December 5, 2025 at 2:02 AM
I personally dont care if it is classified as a security or comodity. It doesnt change Bitcoin either way. But they are classifications with definitions. If you are going to use the classifications, you should abide by the definitions. That is what the SEC has done, under Obama, Trump, and Biden.
Bitcoin is something new, so of course there is some debate. But the people who officially decide whether something is a security or commodity have been very clear for a decade now, it is defined as a commodity by law.
December 5, 2025 at 1:46 AM
Bitcoin is something new, so of course there is some debate. But the people who officially decide whether something is a security or commodity have been very clear for a decade now, it is defined as a commodity by law.
It's only recently that some wealthy folks are getting on board. After spending 10+ years calling it a ponzi, useless, rat poison, etc. Dimon testifying to Congress that it should be banned, governments trying to ban, banks locking accounts and refusing mortgages for interacting with exchanges, etc.
December 5, 2025 at 1:40 AM
It's only recently that some wealthy folks are getting on board. After spending 10+ years calling it a ponzi, useless, rat poison, etc. Dimon testifying to Congress that it should be banned, governments trying to ban, banks locking accounts and refusing mortgages for interacting with exchanges, etc.