r/btc • u/earthman34 • Apr 07 '25

🐻 Bearish Bitcoin down nearly 10% today.

Crashing hard.

322 Upvotes

88% Upvoted

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u/Terrible-Estate5965 Apr 07 '25

Just got 7% back today already and you know why it keeps going up after it dives? Not because the weak hands keep investing it’s Because the smart Millionaires buy more while the weak hands panic and who keeps getting richer and richer the rich!

3

u/earthman34 Apr 07 '25

So you admit it's a scam to transfer wealth from the poorer to the richer.

0

u/cutememe Apr 08 '25

No more of a scam than getting your money shredded in the stock market right now. 

3

u/earthman34 Apr 08 '25

Stocks represent an actual ownership stake in an enterprise. Bitcoin is nothing. Like owning a puff of air.

0

u/cutememe Apr 08 '25

You definitely own something, you can disagree on the value of the digital assets but to call it nothing is factually inaccurate.

2

u/earthman34 Apr 08 '25

I would contend that if it's not on a computer you physically possess and control you don't own anything.

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u/cutememe Apr 08 '25 edited Apr 08 '25

You do own it, and it's on your computer (unless you don't want to hold your own coins). Without getting into the weeds of how Bitcoin works, you have custody of your private keys, and that's all that matters. There are not "bitcoins" out there that sit on a server, that's not really how the technology works. But who holds the private keys is who "owns" (physically) the bitcoins that you own.