Crypto Is NOT A Ponzi Scheme – 233

Foreign Established in 2017 octominer is an International mining hardware company They manufacture and engineer the best Mining equipment in the industry and Supply rigs to some of the largest Mining farms around the world their GPU Mining rigs also integrate with the top Crypto operating systems like Hive OS Miner stat and simple mining all parts Come with an international one-year Warranty exciting news they will be Adding Asic miners for sale to their Website soon and launching a new product Built specifically for Asic home miners Please visit octominer.com or email Support octominer.com for questions Maybe it's all over and it's all done And it's all dead and all the naysayers Are correct Maybe it is just a Ponzi scheme or is it Let's go ahead and hop into this opinion Piece from coindesk it it goes on to say Since crypto exchange FTX collapsed into Bankruptcy and it's there we go And it's ponzi-like shell game with Investor money was revealed many Commentators have doubled down on their Criticism of cryptocurrencies as a type Of Ponzi scheme For those who need a review Ponzi scheme Start with an initial investment from an Early round of investors and then and The money is then used and spent

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For the purposes of the general Partners Or issuers of the investment product When the time comes that the original Investors want to withdraw their funds Their Investments are returned through Funds invested by subsequent rounds of Investors giving the illusion of Solvency and returns similarly FTX kept Making funds available to earlier Investors on its exchange using the Deposits of subsequent investors those Earlier Investments had been swept away To Alameda research and Affiliated hedge Fund does anybody find that definition Of a Ponzi scheme to be eerily close to The U.S United States dollar if not you Should look at what's going on with the United States dollar in this trillion Dollar infrastructure Bill and all the All the money being sent that we can't Afford to other countries for Wars that Don't actually affect us in any manner There we go the FDX Revelations have led A chorus of voices including actor Ben McKenzie and Noble uh I can't Laureate Economist Paul Krugman the two allege That cryptocurrencies in general are a Ponzi scheme Why crypto isn't a Ponzi scheme stick Shark says also in chat Social Security Is definitely a Ponzi scheme and as a Millennial you have no chance at getting Social Security so Glad you kept paying that

For one thing tokens like Bitcoin and Ether do hold value even in down markets And don't depend on inflows of new money To pay off investors Is that true so if we look at ethereum Is that actually true because once we Unlock staking I believe that this Statement from coindesk is false meaning That as soon as unstaking is unlocked in 2023 presumably around between March and June in the Shanghai upgrade when they Have promised to unlock withdrawals from The of course staked nodes people are Going to be unstaking that will require As initial investors right those are the Initial investors it will require Somebody to buy up and restake So I think from the perspective of Ethereum and if you include in of course The VCS and the rest of everything going On once unstaking is is released in the Shanghai upgrade I would posture that Ethereum will definitely be and right Now is just a disguised Ponzi scheme So rather holders of these tokens can Exchange them for other items of value Or fiat currency anytime they can find a Counterparty willing to take their Crypto there is no Central entity giving These tokens the illusion of value see This is where I disagree on the ethereum Front once again there is a single Central entity giving the tokens value But by basically artificial scarcity

Through it being locked up in a node Being staked right like That's essentially it I I don't know I I Think there's a clear distinction Between Bitcoin and ethereum that's not Being presented here the investing Public's willingness to pay 17 000 or 21 000 or 68 000 for one Bitcoin determines The ultimate market value of the token The most popular cryptocurrencies are Available to deliver value in and of Themselves without the manipulations of A Ponzi scheme operator What cryptos can do and as a reminder to Financial advisors cryptocurrencies do Have fundamentals in real world use Cases here are a handful of functions That cryptocurrencies provide Number one medium of exchange as of 2022 Or as 2022 comes to a close Cryptocurrencies can be used as a medium Of exchange at hundreds of retailers Including AMC Theaters Virgin Galactic And cheap air many of these retailers Use bitpay as service that for a small Fee converts crypto into the currency of A vendor's Choice within the flow of a Transaction Holders of Bitcoin can also convert Their coins into Fiat cash at Bitcoin ATMs or via a debit card prepaid with Their tokens and while many people argue That the volunt volatility of Bitcoin And other popular cryptocurrencies make

Them unfit as a medium of exchange Stable coins that don't fluctuate in Value are on the rise the reputation of Stable coins was tested this year with The collapse of some algorithmic stable Coins like Terra UST however they still Have the potential to overtake paper Currency by accommodating fast safe and Precise digital payments central banks Are taking this challenge seriously by Working to develop digital currencies of Their own and see this is the problem Though When we talk about a medium of exchange And we talk about the fundamentals of Crypto and integrating you know Essentially central banks here which This is sounds like to be a proponent For so keep an eye on coindesk as they As they try to convince you to fall Deeper and deeper into the Matrix and Succumb to gross capitalism and and Consumerism I should say not capitalism Gross consumerism and the removal of any Sort of longevity of your savings Account uh with a cbdc let's just make Sure that we're we're on the same page Here you and I this is the incorrect Direction Boasting to go into the direction of a Central bank digital currency as a Defense to cryptocurrency being a Ponzi Scheme doesn't work if we are already Looking at the original point I made at

The beginning of the video which was Compare their definition of a Ponzi Scheme to the US dollar and how it Currently functions with the Federal Reserve Foreign exchange using tokens for Cross-border remittance continues to be One of the more popular uses for Cryptocurrency while many critics have Lambasted the volatility and uncertainty Of cryptocurrencies compared with Fiat Currencies like the US dollar many other International currencies suffer from High volatility inflationary pressures Far beyond this felt by the dollar Tokens like Bitcoin are still able to Move across borders faster and cheaper Than fiat currency here's the deal Though this will obviously Garner a ton Of scrutiny from the nation states Because right now as it sits you know The U.S is currently specifically Utilizing their control over the US Dollar to sanction and slap other Countries that they don't agree with on The wrist and say bad country do what we Want and in place of that of course on The rise is Bitcoin being that Replacement event for these countries And the problem is is that nobody that Has control is willing to or will want To ever give that control up therefore When we are talking about foreign Exchange cool coin death is like this is

A positive I would agree however I don't Think that the people that they are Arguing the case for would agree meaning Like yes I as an individual that agrees With Bitcoin in the white paper and the Fundamentals of it agree with you know This foreign exchange Revelation being Awesome as it pertains to digital Currencies and so on the the US Government is not going to agree that This is a this is an advancement right So it's kind of like yes you're correct From my perspective but if we open our Eyes and take a step back and look at The grander picture this argument isn't Going to hold any weight to the people That they're trying to convince Decentralized applications Blockchain technology and digital tokens Are being applied to problems far beyond Those involving investors advisors Exchanges and digital broker dealers the Technologies being applied to issues in Real estate agriculture Healthcare Gaming and Supply Chain management among Others tokens distributed through Initial coin offerings are programmable Assets that use Smart contracts to Automatically execute transactions if Certain conditions are met without the Need of an intermediary many Industries Not just Financial can benefit from Smart contracts that eliminate the need For intermediaries once again

You are talking about taking an industry Revolution from a from a business that Currently runs it and giving it and Putting into the hands of the individual Right taking it out of the hands of an Industry that is making money on that Currently and putting it into the hands Of the individual this presents a Plethora of problems right because we've Been talking about this for a long time In fact I just did a video only talking About wallets and the video just that Video alone demonstrates the problems That we encounter when we start talking About making this move from you know try Traditional Finance to decentralized Applications and so on if you don't have A central management control what you End up with of course is going to be a a Stronger need for personal Responsibility which nobody in this day And age wants to take especially anybody Millennial generation and under which is Already like okay convenience over Everything else right there's no you Aren't going to convince somebody Unfortunately that Spider-Man is a good Hero and the motto of you know great With great power comes great Responsibility people don't even care About that anymore right Spider-Man's a Lost a lot A lost Concept on a majority of people these

Days so they'd much rather just have Convenience right stuff your face get Fat and if anybody is like hey you know Maybe you're out of shape you should Just take care of yourself take care of Your health you know call them a name And say that they're wrong and move on And take a pill to solve everything this Is the kind of generation that we live In the generations that are upbringing So if you want to make this argument That people are going to Value something Like this I have very very low Confidence that anybody's going to Value Any of this I have even lower confidence As I look at things like analytics on YouTube and where it shifts when we talk About cryptocurrency everybody's Interested in the coins the the Quick Buck maybe makers like the shiba Inus the scams like hex and the scams Like safe Moon and nobody is interested In the people that are actually doing The real work at the bottom of this and Trying to do it for the principal Standpoints it's gone you can look at The amount of viewers that are on this Channel compared to the amount of Viewers that are watching but boy crypto And you have your case in point right There nobody gives a a flying About personal responsibility or Individual financial responsibility or Like autonomy like that nobody cares

Just give it to me feed it to me take Whatever you want in return you're just Giving up all of your energy to all of These individual companies it's Absolutely infuriating and yes Decentralized applications great idea Will anybody give a probably not I just it's just so frustrating at this Point yield in 2022 ethereum the Blockchain represented represented by Ether the second largest cryptocurrency By market capitalization underwent a Transformation from a proof of word Blockchain to a proof of stake Blockchain offering holders of ether the Opportunity to generate yield by staking Transactions on the blockchain as a Result it has become much easier for Many crypto investors to take some Income out of their Holdings without Selling the position but so-called yield Farming opportunities have existed for Several years in decentralized finance While some of these opportunities are Rife with risk and potential fraud Others offer investors the chance to Receive more income more efficiently Than they would via a low risk stock or Bond even in the current High interest Rate regime I'm not actually necessarily Sure this is true Meaning that like If I look at most of the yield options Within crypto all of the C5 ones are

Gone right so your block files uh or Significantly decreased right or they're Significantly decreased in places like Uh coinbase or crypto.com that sort of Thing and if we go decentralized I mean What we saw was a ton of different Collapses affected by Terra Luna so is Your is your yield farming actually a Safe investment in the current you know Ecosystem of cryptocurrency with with it Being so Rife of Fraud and scams and so On my argument would be no right and I Don't think that you're going to Convince the people that once again They're trying to convince with this Article that that is actually a safe Valid opportunity for a majority of People I just it's it's like I want to read why This is like I want to agree with Everything they say but when I read Everything they say it doesn't actually Seem to actually defend In the manner that it needs to defend Right and it and it seems to have quite Poor remarks in general many investors Are going to bet that blockchain will Continue to proliferate and the demand For cryptocurrencies will increase again Driving prices upward from their 2022 Swoon while these May often be Pie in The Sky hopes for easy money some Credible analysts also expect that the Value of major tokens like Bitcoin and

Ether will eventually begin to rise Perhaps growing beyond the Peaks reached Over a year ago now I mean if you've Been following the cycle long enough and You trust in the cycle personally I do It's not Financial advice you already Know that this is going to happen right It's a given this is the same thing like We've talked about it so many dang times But this is the exact same cycle that We've seen over since the Inception of Bitcoin now some things that like I got Wrong right they they we have to like be Clear about the having of other coins Doesn't mean if Casper happens it Doesn't mean if ravencoin halves it Doesn't mean the only thing that matters At the end of the day is the having a Bitcoin on the effective price of Anything pretty much and so what you Have to do is basically plan around at Least what I'm looking at in general is That I have to plan completely around The having of Bitcoin for my investment Opportunities as it pertains to Cryptocurrency and nothing else right And this is really where it gets down to The the the plain facts that are that You have to look at when you're looking At a cryptocurrency fundamentally and it Does come down to the fact that nothing Else really matters other than Bitcoin If we're talking about the macro scale On the having right like it everybody

Wants to act like there's going to be Like a a another breakout and a Decoupling but that just doesn't appear To prove to be the case that being said What was their argument you know will we See Peaks beyond what we saw it reach Over a year ago if we hold true to the Cycle then yes in 20 2025 maybe about Halfway through somewhere around there In 2025 we'll see a peak of Bitcoin Begin to rise after that over the next Year it will continue to rise to three Times the previous High so basically take seventy thousand Dollars and multiply that times three And you're looking at two hundred and Ten thousand dollars would be the peak Of Bitcoin on the next cycle if we're Just basing off the previous cycle and Doing rough numbers and potentially Ethereum but to be completely Frank Bitcoin is the only thing that matters And if ethereum unlocks staking here in The next year during a bear Market they Could just basically completely tank and Destroy their entire project over there In my humble opinion Um which is funny because Obviously I'm an advocate for unlocking Staking I always have been but if I'm Being realistic I know the fact of the Matter is is that we're in a bear market And a lot of people that have a bunch of Staked ethereum probably want to get the

F out bro and so if they unlock that During the bear Market you're going to Have too much selling pressure and I Don't think it's wise for them to do so Um if they could do a staggered one Maybe that makes sense but also if they Don't they risk of course Contagion on The defy Market with all of the staked Ethereum so it's kind of a damned if you Do damned if you don't we've been Talking about this for a long time with Ethereum and there's lots of concerns Surrounding it thanks for checking out This clip from the crypto mining show You can check out the full episode here Or more crypto content down here also I'd like you to check out my locals page At son of a tech.locals.com where you Can become a member for free or choose To be a five dollar a month supporter That unlocks additional content

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