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Bostonian said:
How is it a ponzi scheme if you're paying for a service you receive?

How is is a scheme if you get dividends or reward for owning it?
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Is that service... getting more tokens?

There is nothing that can be done on the blockchain that either hasn't already been solved in a more efficient way, or isn't a problem created by the blockchain industry itself. Nothing that isn't a novelty or superfluous.
 
Chief said:
Is that service... getting more tokens?

There is nothing that can be done on the blockchain that either hasn't already been solved in a more efficient way, or isn't a problem created by the blockchain industry itself. Nothing that isn't a novelty or superfluous.
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No. Services like this.

iotex.io

Consensus Networks' $1.5M Contract w US Navy: Supply Chain on IoTeX

The US Navy has awarded Consensus Networks a $1.5M contract for HealthNet, a blockchain-enabled logistics tool targeted at medical supply chains. HealthNet will leverage IoTeX technology, including Pebble Tracker and Decentralized Identity (DID)...
iotex.io iotex.io


See I'm not disagreeing that many of these projects won't last. That's how things work in any sector. And it's good if many do die out.

Better minds than yours or mine seem to think it's got a future though so I'm more than content to research the ones I think can last and prosper and speculate on them.

Get a longer run for my money than the pink in the 3rd at Dapto.

Same kind of time frame as my mate who bought shares in a US satellite company ten years ago on some inside info and he's still waiting for something to take off the ground.
 

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Bostonian said:
Have you heard of governance before in crypto?
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Just explain it like I'm a person who just reads bits and pieces and watches YouTubers bust crypto scams and listens to economists who think cryptocurrency is worth nothing.
 
Bostonian said:
That plenty of people once said the internet was a fad and wouldn't amount to anything.
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Plenty of people said tulip bulbs were an awesome investment.

And we all remember the dot com bubble, yeah?

What I was asking about was the Navy thing.

Why does anyone need to buy tokens for that to work?
 
Chief said:
Plenty of people said tulip bulbs were an awesome investment.

And we all remember the dot com bubble, yeah?

What I was asking about was the Navy thing.

Why does anyone need to buy tokens for that to work?
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Yeah and we remember the head of IBM saying there was probably a world market for 5 computers too.

Or an exec at 20th Century Fox saying television won't be able to hold onto any market it holds.

Or founder of Digital Equipment Corp who said there is no reason why anyone would want a computer in their home.

Plenty of people make all different predictions.

And as you mentioned the dot com bubble then you have to mention Amazon, eBay, Adobe etc They were part of it and survived.

So many crypto projects will fail and some will last. That's the way of the business world.

You buy tokens so you can build on the platform or use the service.

You buy tokens so you can vote like share holders do.

You buy tokens so you can get airdrops which end up being like dividends.

You buy tokens so you can partake in competitions and promotions.

You buy tokens so you can stake them for dividends.
 
Chief said:
What I was asking about was the Navy thing.

Why does anyone need to buy tokens for that to work?
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So... ?

Anyway I didn't want to engage on this thread as it's for people who are into the scene and not for nay-sayers.
 
Chief said:
Some people sometimes buy some shares they don't understand. This is pretty basic, even for you.

So what? That doesn't give value to the crypto Ponzi scheme.
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There are ponzi schemes within crypto, but not all crypto is a ponzi.

How is bitcoin a ponzi?
 

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Chief said:
Plenty of people said tulip bulbs were an awesome investment.

And we all remember the dot com bubble, yeah?

What I was asking about was the Navy thing.

Why does anyone need to buy tokens for that to work?
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Tulips had one bubble.

Bitcoin has undergone at least 6 bubbles in the past 11 years. The chart below has a logarithmic y axis.

7qOegiK5


People have been calling the death of bitcoin since its inception.
www.bitcoinisdead.org

“Bitcoin Is Dead” - The #1 Database of Notable Bitcoin Skeptics

'Bitcoin Is Dead' is the best database of notable Bitcoin obituaries and skeptics on the Internet. View names, quotes, publications, source links, and more!
www.bitcoinisdead.org www.bitcoinisdead.org

My view is that they, and you, don't understand bitcoin. Whether it takes 1 year or 10, I'm 99% confident bitcoin will eventually hit a higher price than the current all time high of $69k USD.
 
ash_1050 said:
Sold my CRYPT holdings, it doesn't look to be going anywhere fast. Will let the market finish bottoming out first instead of getting impatient.
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No one can predict the bottom anymore though, it could go a lot further down or it could have reached the bottom now, who the hell knows
 
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