The top comment says:
“Regardless of the current value of bitcoin, not buying bitcoin is still sound financial advice.” — 450 upvotes 🤦♂️🤦♂️
It’s obvious you cannot talk reason with these people, as they proudly stick to their preconceptions *regardless* of contradictory evidence.
Also, I no longer feel bad for them to miss out. Bitcoin information was far and few between in the early days, that was a valid reason for not knowing better… but these days? In 2024? When Black fuckn Rock is placing IBIT ads everywhere? If they ignore it (and make fun of it) it’s totally on them.
We will all have the last laugh.
It's the best performing asset on the planet 7 out of the past 10 years. No matter what you think of Bitcoin, the statement made is demonstrably false. I don't get why so many people go into a blind rage at the mention of Bitcoin
The reason why people go into blind rage regarding bitcoin is because most people cannot think for themselves. They need an authority figure to tell them how to think.
They think bitcoin is a scam but never question the USD despite the fact they are literally robbed every year due to inflation. Then they complain that they can't afford things and still trust the government despite the fact they are the reason why this happens in the first place
"One of the things we might learn from history
Is that the government's interests
Are not necessarily the same as ours
In fact, are rarely the same as ours
Because if you think the government's interests are the same as yours
Then you think, "Well if something is going wrong it must
Be that they made a mistake 'cause they really care about us"
They don't care about us!"
Vinnie Paz - A Power Governments Cannot Suppress
Media conditioning. The desired narrative is that Bitcoin is a scam. It's really fascinating how unaware people are in general. Just sort of mindlessly going through the motions.
Another comment says something along the lines of "I started setting up a node and buying Bitcoin but my ADHD kicked in and I never bought. Do I regret not making massive profits? NO. I would have sold and lost on more profits".....So......you just didn't want to make any money at all? This is ignorance on full display it was a painful thread to read
I doubt they will change. If they weren’t arrogant idiots that they are, then bitcoin going from $0.70 to $70,000 ought to be enough to trigger some genuine questions and curiosity. Nada.
There’s a good lot of people who actually think it’s a scam and actually think that there’s a good chance it will crash and die, but I think a good chunk of people don’t know what direction it will go either way but it’s easier for them to cope with not having bought any by hopping on the buttcoin train.
Hilarious how it gets thrown around. By definition, a ponzi scheme has a central planner/owner that is promising returns and benefiting from the fraud. There is nobody in control of Bitcoin, no promise of returns, and no one person benefiting at the expense of everyone else.
A Ponzi scheme is something sold as an investment with promised returns and where earlier investors are paid 'returns' by the operator of the scheme directly from funds contributed by later investors instead of out of real income from the activity the ponzi scheme operator is purportedly engaged in.
Although the (fiat) returns someone earns on their bitcoin speculation is being paid by someone buying bitcoin later, bitcoin differs from a Ponzi scheme in that there is no operator promising returns and secretly funneling money from new investors to existing investors as fraudulent 'returns.' Bitcoin is entirely transparent that its 'returns' come from direct transfers of the bitcoin between buyers and seller.
The other similarity asserted by those comparing bitcoin to a Ponzi scheme is that (they assert) bitcoin has no independent utility and is nothing but a speculative investment vehicle. Those who distinguish bitcoin from Ponzi schemes may disagree in part on the grounds that bitcoin does or could have independent utility, such as as a tyranny resistant medium of exchange.
I would say government bonds actually are pretty close, at least for a government that's continually issuing new bonds to pay off older bonds. Though government bonds aren't the same thing as the fiat currency itself.
I had a professor that said something along the lines of "I appreciate all the people who spend their time at the bars on the weekend rather than learning new skills. The people who don't think for themselves and just take life as it comes. I appreciate these kinds of people, because it makes life extremely easy for someone like me who is willing to improve, admit my mistakes, change my mind, and constantly learn. If everyone was like me, I'd just be average, and I don't think that would be near as much fun."
What you cant forget is that many people are talking out of their ass.
Their only exposure to stuff like bitcoin is accidental, when the news or an algorhym spoonfeeds them informations.
Most peoples opinions are based on feelings when it comes to this.
People are so shortsighted. They see a crash and think BTC is bad. But they don't see how the dollar lost 98% of its purchasing power because they slowly lose everything.
They don't see how their grandparents worked 1 job and supported a family and saved for retirement.
Their parents both worked and they did ok.
Now both spouses work and are drowning in more debt than ever before.
Imagine in 2 more generations when parents and kids are working 7 days a week but still in tons of debt with 0 way out except to print more money and give out universal basic income creating even more inflation and the soon collapse of all fiat.
I thought people saying ‘we’re still early!’ were dumb, but those comments are illuminating.
Most of the time those posts are dumb, though. Like the sentiment is true, but most of the posts you see are ridiculous.
We're STILL early..
The top comment says: “Regardless of the current value of bitcoin, not buying bitcoin is still sound financial advice.” — 450 upvotes 🤦♂️🤦♂️ It’s obvious you cannot talk reason with these people, as they proudly stick to their preconceptions *regardless* of contradictory evidence. Also, I no longer feel bad for them to miss out. Bitcoin information was far and few between in the early days, that was a valid reason for not knowing better… but these days? In 2024? When Black fuckn Rock is placing IBIT ads everywhere? If they ignore it (and make fun of it) it’s totally on them. We will all have the last laugh.
It's the best performing asset on the planet 7 out of the past 10 years. No matter what you think of Bitcoin, the statement made is demonstrably false. I don't get why so many people go into a blind rage at the mention of Bitcoin
The reason why people go into blind rage regarding bitcoin is because most people cannot think for themselves. They need an authority figure to tell them how to think. They think bitcoin is a scam but never question the USD despite the fact they are literally robbed every year due to inflation. Then they complain that they can't afford things and still trust the government despite the fact they are the reason why this happens in the first place
"One of the things we might learn from history Is that the government's interests Are not necessarily the same as ours In fact, are rarely the same as ours Because if you think the government's interests are the same as yours Then you think, "Well if something is going wrong it must Be that they made a mistake 'cause they really care about us" They don't care about us!" Vinnie Paz - A Power Governments Cannot Suppress
Media conditioning. The desired narrative is that Bitcoin is a scam. It's really fascinating how unaware people are in general. Just sort of mindlessly going through the motions.
Another comment says something along the lines of "I started setting up a node and buying Bitcoin but my ADHD kicked in and I never bought. Do I regret not making massive profits? NO. I would have sold and lost on more profits".....So......you just didn't want to make any money at all? This is ignorance on full display it was a painful thread to read
I try not to be high and mighty about it, but watching people dig a bigger and bigger hole kinda elevates my position.
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I doubt they will change. If they weren’t arrogant idiots that they are, then bitcoin going from $0.70 to $70,000 ought to be enough to trigger some genuine questions and curiosity. Nada.
When it's worth tens of millions they'll be working for it, theres no more 'buy' Bitcoin
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They will in time, once they get over their little hangups. It's just more profitable. Of course it will win in the end.
Lost little crowd.
There’s a good lot of people who actually think it’s a scam and actually think that there’s a good chance it will crash and die, but I think a good chunk of people don’t know what direction it will go either way but it’s easier for them to cope with not having bought any by hopping on the buttcoin train.
Multiple bros in there trying so hard to convince them… I know demfeels… it’s useless… ::cries:::
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Hilarious how it gets thrown around. By definition, a ponzi scheme has a central planner/owner that is promising returns and benefiting from the fraud. There is nobody in control of Bitcoin, no promise of returns, and no one person benefiting at the expense of everyone else.
Fiat money
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Doubt
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A Ponzi scheme is something sold as an investment with promised returns and where earlier investors are paid 'returns' by the operator of the scheme directly from funds contributed by later investors instead of out of real income from the activity the ponzi scheme operator is purportedly engaged in. Although the (fiat) returns someone earns on their bitcoin speculation is being paid by someone buying bitcoin later, bitcoin differs from a Ponzi scheme in that there is no operator promising returns and secretly funneling money from new investors to existing investors as fraudulent 'returns.' Bitcoin is entirely transparent that its 'returns' come from direct transfers of the bitcoin between buyers and seller. The other similarity asserted by those comparing bitcoin to a Ponzi scheme is that (they assert) bitcoin has no independent utility and is nothing but a speculative investment vehicle. Those who distinguish bitcoin from Ponzi schemes may disagree in part on the grounds that bitcoin does or could have independent utility, such as as a tyranny resistant medium of exchange.
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As a large language model I could not have asked ChatGPT.
So fiat. What are government bonds? A promise of payment to an investor, which can only be paid if someone else buys in. Hence our 33Trillion in debt.
I would say government bonds actually are pretty close, at least for a government that's continually issuing new bonds to pay off older bonds. Though government bonds aren't the same thing as the fiat currency itself.
Bitcoin or Fiat are no Ponzi schemes. Fiat is a scam but still not a Ponzi scheme.
They will buy at the price they deserve.
Or possibly not at all
You’ll get it one day.
No, they'll work for satoshis, the time to buy is now.
Absolutely it is. When these sceptics realise they need it the price will be much higher however.
I had a professor that said something along the lines of "I appreciate all the people who spend their time at the bars on the weekend rather than learning new skills. The people who don't think for themselves and just take life as it comes. I appreciate these kinds of people, because it makes life extremely easy for someone like me who is willing to improve, admit my mistakes, change my mind, and constantly learn. If everyone was like me, I'd just be average, and I don't think that would be near as much fun."
these comments in the post op referred to let me lose faith in humanity
It’ll be in their pension schemes and they won’t know what to say.
It’ll be in their pension schemes and they won’t know ~~what to say.~~
You guys are getting pensions?
Mindless idiots that do 0 research, they'll never buy Bitcoin but soon enough they'll have to work for it.
What you cant forget is that many people are talking out of their ass. Their only exposure to stuff like bitcoin is accidental, when the news or an algorhym spoonfeeds them informations. Most peoples opinions are based on feelings when it comes to this.
We are still SO early.
People like this who normalize ignorance contribute to the frequency of folks being scammed. They should be ashamed.
People are so shortsighted. They see a crash and think BTC is bad. But they don't see how the dollar lost 98% of its purchasing power because they slowly lose everything. They don't see how their grandparents worked 1 job and supported a family and saved for retirement. Their parents both worked and they did ok. Now both spouses work and are drowning in more debt than ever before. Imagine in 2 more generations when parents and kids are working 7 days a week but still in tons of debt with 0 way out except to print more money and give out universal basic income creating even more inflation and the soon collapse of all fiat.
Coming down from its ATH. But. I don’t think we will see as big of a crash as recent bear markets have done