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Yes, I have said from day 1 it is a zero sum Ponzi scheme with...

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nippy

14,513 Posts.

886

28/04/25

17:24

Post #: 78828152
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Originally posted by rcs1359: ↑

Why do crypto posts keep popping up on the ASX General forum?

It is insidious how the Crypto community are so devoted to continuously promoting their self serving narrative. If Bitcoin had any real intrinsic value, it would not need to be continuously promoted as it is. Michael Saylor, the prime promoter, is a clever salesman and architect of a financial model that will make him richer and richer the longer he can keep pushing his narrative, but he is no genuine investor. Great investments need no promotion.

Crypto, and more particularly Bitcoin, is a promoted narrative by holders who are trying to convince the rest of the World it is a form of digital gold, and a hedge against the risk of fiat currencies. The more people buy into that, the longer its run will be but eventually people will realise it is absolutely nothing other than a bit of code on a digital ledger with no intrinsic value.

It will eventually fade away but it may be many years before that happens. In the meantime, the promoted narrative will sustain this long term Ponzi scheme, and those taking the bait will either do well by timing their exit well, or be big losers in the long term.

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Yes, I have said from day 1 it is a zero sum Ponzi scheme with the rider that the supply of suckers right now is far larger than in the Tulip days due to social media.

Intrinsic value always the same - NIL.
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