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<p>[QUOTE="Michael K, post: 3637593, member: 78298"]I've been watching videos about baseball cards that sell for $1000 a pack.</p><p>Inside are all of these autographs, relic cards (piece of game uniform or bat attached), some had diamond chips embedded in the cards, etc.</p><p>The hobby was killed for the last 20 years because of overproduction and the "perceived values" of the cards dropped. So now Topps have come up with these high end cards, you would think no one would be interested, but they are selling and they are laughing all the way to the bank. People think these cards are rare and worth the money. In all honesty the cards are worthless (although there is a Babe Ruth signature and stuff like that floating around) and to make money you have to be able to sell to another "collector" before people realize it's a Ponzi scheme.</p><p>If every card is an autograph, it's not special or rare and the market is now flooded with these things even if they come from a numbered lot (#4 of 20, etc.).</p><p>My point is, isn't Bitcoin a Ponzi scheme? It has no value, and you can only make money by selling it to another investor before the pyramid collapses.</p><p>It's true that you can say that about anything. American economy, gold, etc. But those things have some lasting strength, support, and "trust/faith" before they collapse one day in the future.</p><p>Gold isn't good for anything. You can make jewelry out of it, and it has some uses in manufacturing. But it's just a metal that we have assigned a high value to. And people accept that it is "worth" whatever.</p><p>Bitcoin can only go down in the long term and anybody who has really made money off of it, I would be super hesitant to get back in, even when the price drops, and then shows support and goes back up. When it goes down to $1 all of the new investors are going to be stuck holding the bag and only the people at the top of the pyramid are going to have made money.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 3637593, member: 78298"]I've been watching videos about baseball cards that sell for $1000 a pack. Inside are all of these autographs, relic cards (piece of game uniform or bat attached), some had diamond chips embedded in the cards, etc. The hobby was killed for the last 20 years because of overproduction and the "perceived values" of the cards dropped. So now Topps have come up with these high end cards, you would think no one would be interested, but they are selling and they are laughing all the way to the bank. People think these cards are rare and worth the money. In all honesty the cards are worthless (although there is a Babe Ruth signature and stuff like that floating around) and to make money you have to be able to sell to another "collector" before people realize it's a Ponzi scheme. If every card is an autograph, it's not special or rare and the market is now flooded with these things even if they come from a numbered lot (#4 of 20, etc.). My point is, isn't Bitcoin a Ponzi scheme? It has no value, and you can only make money by selling it to another investor before the pyramid collapses. It's true that you can say that about anything. American economy, gold, etc. But those things have some lasting strength, support, and "trust/faith" before they collapse one day in the future. Gold isn't good for anything. You can make jewelry out of it, and it has some uses in manufacturing. But it's just a metal that we have assigned a high value to. And people accept that it is "worth" whatever. Bitcoin can only go down in the long term and anybody who has really made money off of it, I would be super hesitant to get back in, even when the price drops, and then shows support and goes back up. When it goes down to $1 all of the new investors are going to be stuck holding the bag and only the people at the top of the pyramid are going to have made money.[/QUOTE]
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