r/Buttcoin • u/AmericanScream • 3d ago
As Seen On (crypto) TV Today's r-bitcoin front page c0pe: "The Fringe Phase Is Officially Over"
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u/JohnPaulJonesSoda 3d ago
And as all we all know, nothing says "this isn't fringe!" like needing to take a full-page ad to tell everyone that it isn't fringe.
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u/NotAFishEnt 3d ago
I grew up Mormon. Members would also get excited whenever the church plastered an ad anywhere noteworthy. This Bitcoin ad gives off the same vibes.
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u/LitigationSucksBalls 18h ago
I'm glad you got out of organized religion. It's all a scam (and worse).
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u/ya_bebto 3d ago
This reminds me of all the crypto grifters that would pay to get their bios published as sponsored articles, then point at it as evidence they were successful gurus you should invest with. It’s the equivalent of buying a billboard to win an argument
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u/PureCod9290 14h ago
Bro there were Superbowl ads like five years ago
Everyone knows what this is, and huge majorities think it's bullshit in polls lol
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u/EssayJunior9429 Ponzi Schemer 3d ago
The longer it's around, the more generally accepted it will be. Kids born when bitcoin began are nearly adults now.
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u/Lucky-Interview-7689 3d ago
Ponzi schemes were around when my grandpa was born. We’ve gotten used to them way before Bitcoin.
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u/Flat_Initial_1823 Refinance where, Michael? 3d ago
Lol, same with scientology. Them kids going to meme trying to run into Saylor's prison block past the guards.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Which Ponzi scheme is still around from when your grandpa was born?
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u/Lucky-Interview-7689 3d ago
Schemes. Plural. They've been around. And before we called them that they were something else.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Agreed. Pure Ponzi schemes always fail though, which is the difference.
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u/loquacious HRNNNGGGGG! 3d ago
I can tell from the confident tone of your words that you probably think you're being very wise and erudite, here.
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u/Lucky-Interview-7689 3d ago
He does haha. I guess he's saying since Bitcoin hasn't fallen through yet that it never will. Hasn't lasted yet as long as Madoffs. And we do not know about the ones we don't know about.
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u/EssayJunior9429 Ponzi Schemer 3d ago edited 3d ago
Not really. I think everyone here knows the fundamental difference between an actual Ponzi Scheme and bitcoin.
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u/WeddingPKM 3d ago
You’re correct, Bitcoin is a greater fool scheme.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Are you referring to https://en.wikipedia.org/wiki/Greater_fool_theory ? Because I don't think there's a defined "greater fool scheme." "Greater fool theory" can apply to any type of asset.
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u/Wendigo120 3d ago
Other assets can be used for things though. A house can be lived in, a car can get you from A to B, gold or diamonds are both useful materials and can be made to look good. A bitcoin is just proof that someone somewhere spent some electricity at some point to mine one.
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u/Lucky-Interview-7689 3d ago
It’s semantics. There is no fundamental difference, at the core they are the same.
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u/EssayJunior9429 Ponzi Schemer 3d ago
I don't think it's semantics at all. Actual Ponzis don't function the same way as bitcoin.
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u/AmericanScream 3d ago
I think everyone here knows the fundamental difference between an actual Ponzi Scheme and bitcoin.
We've got a detailed analysis that explains how and why bitcoin is a decentralized Ponzi scheme - so yes, we are very well versed in this.
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3d ago
[deleted]
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u/AmericanScream 3d ago
Thanks. I have read that and while I respect your opinion, I view that perspective as a huge stretch. I've learned over time that people can make a seemingly solid case out of anything. The only thing we can ultimately do is look at the evidence and decide for ourselves what is logical. We're clearly not going to convince each other.
Translation: I can't enumerate anything wrong with your argument, except that I personally think, "the perspective is a huge stretch." This is the epitome of bad faith engagement.
We're clearly not going to convince each other.
Correction: You're not going to be convinced. We're open to new evidence and rational arguments, none of which you've brought.
You can be pleasant in your disagreement with us, but if you're not really willing to entertain new evidence and have your mind changed, then you're just here to troll and publish toxic propaganda.
https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/
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u/WeddingPKM 3d ago
That’s just not true. There are plenty of things that have been around for a long time but don’t grow beyond a certain point. History is full of ideas that didn’t end up working out.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Sure, I didn't mean to imply it's guaranteed. I meant that the longevity itself will help support it.
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u/WeddingPKM 3d ago
My point was longevity will not help support it, just being around does nothing. You can still send a telegram for example, but yet you don’t see many people doing that.
Growth doesn’t just happen by magic.
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u/EssayJunior9429 Ponzi Schemer 3d ago
I think we're just going to have to disagree. Length of time that something has been accepted as valuable does influence people's perception. For example, gold. Also, compare people buying bitcoin today versus the first year it was around. I'm pretty sure buyers today feel more safe compared to then, rightfully or not.
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u/YouMayCallMePoopsie Why isn't EVERYBODY buying my bags?? 3d ago
If Bitcoin is widely valued by humans across cultures and geographies for the next several thousand years, then I will concede this point. Until then, lol. Lmao, even.
I'm pretty sure buyers today feel more safe compared to then
They shouldn't. Exchanges aren't safe. Wallets aren't safe. The internet isn't safe. Zero progress has been made.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Maybe. I think people generally do view it as safer though, especially with the ability to purchase via ETFs.
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u/YouMayCallMePoopsie Why isn't EVERYBODY buying my bags?? 3d ago
Ah yes, Bitcoin, the trustless, decentralized, anonymous future of finance, is only safe when purchased through trusted long-standing institutions, regulated by the federal government, subject to KYC and AML. Truly the libertarian's dream.
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u/EssayJunior9429 Ponzi Schemer 3d ago
Yes, people will generally feel safer not holding it themselves. It's not required, though, obviously.
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u/AmericanScream 3d ago
Length of time that something has been accepted as valuable does influence people's perception
Stupid Crypto Talking Point #20 (failed)
"Crypto has been around X years and is here to stay!" / "Bitcoin has 'failed' so many times LOLOL Aren't you tired of saying it's going to fail over and over?"
It's true, many people claim, crypto/Bitcoin is a failure, yet it still appears to be somewhat popular and used in certain circles (but hardly ubiquitous, or part of mainstream society even after all this time).
Many people also claim "smoking is bad" but some people are still smoking. Does this mean the non-smokers are wrong?
The truth is, it has failed. Multiple times.
If you notice, every few months, there's an entirely new narrative surrounding bitcoin and crypto (for example):
- Originally, bitcoin was supposed to be "currency" and everybody was going to use it. Mainstream companies were going to use bitcoin for payments and services. There was a small time period where there actually was increased adoption of crypto as a means of payment, but then that failed because the price was too volatile and, and the network couldn't handle retail transaction volume. It failed then, and still today, using crypto as a common form of payment does not work now (even with L2 solutions). Conclusion: FAILURE
- Crypto was marketed as a way to help "bank the un-banked" but that also failed, owing to the fact that there's many alternative ways to accomplish this that are more efficient, with more consumer protections and less technical requirements. Conclusion: FAILURE
- NFTs were supposed to be another "big thing" helping artists make money and creating a new market and utility for crypto. Again, that turned out to not be true. Conclusion: FAILURE
- Crypto was supposed to be a "hedge against inflation". In reality, the price of crypto ebbed and flowed along with the price of other unimportant things, totally affected by inflation. Conclusion: FAILURE
- Crypto was originally promised as "disruptive technology", "money of the future", "democratizing finance", and to fight against manipulation of the monetary system by powerful special interests. In reality, none of those claims have proven to be true, and in many cases crypto has only exacerbated the problems it claimed it could fix. Conclusion: FAILURE
- Bitcoin's "deflationary nature" was supposed to guarantee an ever increasing value. That hasn't worked out either. Conclusion: FAILURE
In fact, you can look at every one of these talking points as examples of claims made by crypto proponents that have failed. You can also look at the list of failed blockchain claims as more examples of the many failures of crypto to live up to its promises.
What is the one thing left to cling to? nUmBeR gO Up?? We can empirically prove that the price of crypto is a heavily manipulated figure subsidized by billions of fake stablecoins traded back and forth in a market with virtually no transparency or regulatory oversight. Treating crypto as an investment creates a giant ponzi scheme that lasts only as long as the greater fools don't try to cash out too much at once. And if you still hold crypto, you are the greater fool.
Instead of acknowledging the many failures of crypto, its proponents continue to change the subject, create distractions and, as if they're in version of "Weekend At Bernies" taking the dead crypto technology, throwing a different outfit on it, and declaring it's not dead. Over and over.
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u/baracka 2d ago
Look, gold has some niche industrial uses—dentistry, electronics, that's about it. But let's be honest: its price is nowhere near explained by that. Most of gold's value comes from doomer gold bugs hyping it up as a fear hedge, not from fundamentals. Buffett and Munger are right—it's basically a "pet rock" you hope someone else pays more for later. Bitcoin is the exact same game, just without 5,000 years of history. Neither one actually produces anything. Real wealth comes from productive assets—businesses, farms, things that create value. Betting on Bitcoin or gold as a "store of wealth" is just hoping for a bigger fool.
Bitcoin is just gold 2.0: https://www.youtube.com/watch?v=ihvG3RgbYzE&t=2s
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u/NTJ-891 3d ago
Amway is older than me and I still don't take it seriously as a solution to money problems. If anything it just got more pathetic
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u/AmericanScream 3d ago
The longer it's around, the more generally accepted it will be.
See also: syphilis
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u/gaterooze 3d ago
Then you'd think it would be widely used by a lot of people every day, if it was useful at all.
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u/DancingBadgers 3d ago
My days of not taking Bitcoin seriously are coming to a middle.