The Health Ranger explains why Bitcoin has entered the “Ponzi scheme” stage that will fleece suckers who are unwise enough to buy into an irrational Bitcoin bubble.
Podcast Transcript: “Well, Bitcoin has entered the ponzi scheme stage. It’s a pump and dump scam at this point. I know this because a lot of the top Bitcoin hustlers are now attacking me personally for my commentary. It’s based in rationality, reason and mathematical analysis. By the way, for the record, for everybody who is listening to this … ‘I make nothing if Bitcoin goes down’. And yet the people attacking me have a conflict of interest. They make money if Bitcoin keeps going up, because obviously the more people they get to buy-in, the higher their current Bitcoins become in terms of value – which they will eventually try and sell off to other people in order to pocket cash. Well, I’m not in Bitcoin except for a very tiny amount – I think I own .35 Bitcoins at the moment. I have a solar Bitcoin mining farm in Arizona. It generates some ‘Bitcoinish’. Every time I get enough to buy another ounce of gold I just sell the Bitcoin and buy gold. So, I’ve been using sunlight to generate gold. Of course, gold doesn’t disappear when people come to their senses, but Bitcoin will. Bitcoin can vanish instantly…” Listen to the full podcast below: