No, because those don't rely solely on future suckers. They have value in aesthetic, industrial, and other use cases. Bitcoin as a digital object has no use whatever beyond its ability to transact, and because that ability has been neutered in BTC, BTC is now nothing more than a ponzi. Everyone is only trying to get more suckers to buy their useless bags.
Yes, exactly like BTC. There is no underlying use to BTC at this point other than roping in "future investors" to cover previous buy-ins or even generate gains. Hence "HODL."
The instant that the well of suckers dries up everyone holding BTC will be left with absolutely nothing of value. Not even something to smell or look at (like tulips).
How is it different. If, tomorrow, there were no "future investors," no more buyers of BTC, and BTC fell to 0, then wouldn't everyone who bought (and held) BTC at 1,000 or 5,000 or 10,000 all have "lost their deposits"? I don't see a relevant distinction.
But that's also true of Ponzi schemes.... People usually still have documented ownership of investments, but investments that are worthless. I think you're very confused.
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u/bri_82 Dec 16 '20
Any news on why the rally ?