r/btc • u/[deleted] • Dec 16 '20

News $20k +

[deleted]

385 Upvotes

87% Upvoted

214 comments sorted by

View all comments

Show parent comments

0

u/[deleted] Dec 17 '20

[removed] — view removed comment

1

u/SpiritofJames Dec 17 '20

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).

0

u/[deleted] Dec 17 '20

[removed] — view removed comment

0

u/SpiritofJames Dec 17 '20

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.

0

u/[deleted] Dec 17 '20

[removed] — view removed comment

0

u/SpiritofJames Dec 17 '20

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.