GBTC: Bitcoin Investment Trust (Not an ETF) OTC:QX Message Board

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Non-Tech : GBTC: Bitcoin Investment Trust (Not an ETF) OTC:QX

GBTC 89.02

-1.2%

Oct 28 4:00 PM EDT

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To: Madharry who wrote (223)	11/29/2022 11:53:01 AM
From: Elroy	Read Replies (2) of 270

Bitcoin is the largest most transparent Ponzi scheme ever created. So far it is working. But I wouldn't be confident that it will continue to work for years and years. Maybe it will, but I sort of doubt it. If it grows in value, it causes inflation, and I can see outside forces coming together to destroy its value. Ethereum does all the things written in your post, and more. So why have Bitcoin? Why not own Ethereum instead? If the central government ever pulls of this "digital dollar" idea, then I think a lot of the current use case for Bitcoin (a bridge to all the other cryptos) goes away. If you can change your fiat into digital dollars, and then use those digital dollars to buy any other crypto, what's the need for Bitcoin? Nevertheless, someone is buying it today for a bit more than $16,000, so they think it's worth that much. As long as those buyers exist more than sellers, the crypto Ponzi scheme will continue to work.

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