There's a few characters on twitter who have been shouting to the winds for years now, that the world of cryptocurrencies is a scam, and that it all will come crashing down soon enough. Some of these characters are literally characters. They claim not to trade crypto, not to believe in it, but somehow find the time of the day to talk about it more than crypto enthusiasts.
More often times than not, I ignore them, because they just seem to be trolly. As a matter of fact, one of these characters is named Trolly Mctrollface, and that should say enough. That being said, one of the "main critiques they have for BITCOIN" is so ignorant to me, that I can't help but to be a bit annoyed.
Once the prices go up, they are just going to sell BTC and dump it on the newbies. It's a ponzi, it's a scam
What?
I guess if we are to even consider such notion as valid, we must then put all stocks in that category as well. Yes, stocks must be scams too. But wait, Gold is a scam too, people buy Gold and sell it when the price goes higher or when they need liquid cash, yes, gold is a scam. Oh wait, Houses are scams too... OMG I NEVER THOUGHT OF IT THIS WAY!
Yes, think about it... You buy a house, you wait for the price of your house to go up and then you sell it to someone and you scam that person of the money. Yes, perfect scam/ponzi.
Point is, do these people understand markets at all?
How many butts do you hodl?
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none at the moment, but it does sound good to be a butt whale.
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The issue is the lack of vision as the examples you provide are mostly from assets that have perceived value due to tangible returns they often receive. Most participating have not really seen that the fiat system itself is a Ponzi so what will happen when it ends is the larger question.
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Act like a long term investment in a crypto will surely help if you have a HODL power.
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Stocks are the same way. Buy low, and sell it to the noob when it goes high right? All of life would be a ponzi then. At least with bitcoin you can actually use it to buy stuff(bitpay has made using it so much easier with merchant support like Microsoft).
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Perhaps they do understand market. Or somehow, they're also an investor who want to bag more at lower price. Yes,lower and to pull that price to low low, one need to create FUD and fear. Then... Mission accomplished.
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Excellent review @meno and you are right, such characters do not exactly understand what they are trolling about!
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Wtf. I think he's just trolling or maybe there are hidden interest behind those type of opinions, it's evident that there is a monopoly that would fall in case of a total adoption of bitcoin or some other cryptocurrency.
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It’s only because we average person now has access very easily to these markets it’s seen as a scam! It’s not a scam if it’s only done via registered businesses and guys with over priced degrees from pretentious educational institutions is it?
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