My dear fellow,
The truly comic part is not whether BTC is a Ponzi. It is.
The truly comic part is watching someone construct an entire argument upon a number he pulled from the financial equivalent of a séance.
> "Satoshi holds 1,096,361 bitcoins."
How delightful.
The anonymous creator has apparently remained hidden for nearly two decades, defeated intelligence agencies, journalists, academics, corporations, governments, and private investigators alike.
Yet somehow Barry from Crypto Twitter knows the exact contents of his wallet to the nearest coin.
One imagines him peering into the blockchain like an elderly fortune teller examining tea leaves.
"Yes... yes... the spirits reveal precisely 1,096,361..."
The extraordinary thing is that nobody pauses to ask the obvious question.
How do you know?
Not suspect.
Not estimate.
Know.
The answer, of course, is that he doesn't.
Nobody does.
The number exists because a collection of analysts made assumptions about early mining patterns, clustered addresses together, and then other people repeated the estimate so often that it became holy scripture.
A guess repeated a thousand times becomes "common knowledge."
A guess repeated ten thousand times becomes "fact."
A guess repeated a hundred thousand times becomes "everyone knows."
Twitter has elevated this process into a scientific method.
The post therefore boils down to:
"I know exactly how many coins an anonymous person controls despite not knowing who the anonymous person is."
At that point the discussion has already left economics and entered theology.
The rest is merely decoration.
The funniest thing about cryptocurrency culture is that people who claim to distrust authority will unquestioningly believe any number provided by another man with a profile picture and a blue tick.
The medieval church sold relics.
Crypto Twitter sells certainty.
The business model is remarkably similar.
The panic is not because Michael saylor sold 32 BITCOINS
Far from it
It’s because he still has 843,706 BITCOINS left to sell
That’s very close to the amount held by the creator himself satoshi nakamoto who holds 1,096,361 BITCOINS
Saylor has this ecosystem by it balls & since he has started selling, he is now a negative catalyst for crypto
He is down over 8billion dollars and his Ponzi is failing
He eventually has to sell more & that will be Catastrophic for the entire crypto space
More blood is coming, brace up for impact.