2013-03-06 BitCoin Ponzi Scheme by Chris Duane (Truthnevertold) - page 2.

lophie

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Quote from: 420 on March 07, 2013, 10:04:40 PM

Saw a short version or trailer. What a fucking dumbass if he thinks its a ponzi

EDIT: I just heard half a dozen errors and mistruths in the first 4 mintues

Who wants me to make a rebuttal video?

Go for it man. But I doubt people with this way of stubborn thinking would understand you. They would simply answer with "I don't want to use money that I don't understand"

420

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Saw a short version or trailer. What a fucking dumbass if he thinks its a ponzi

EDIT: I just heard half a dozen errors and mistruths in the first 4 mintues

Who wants me to make a rebuttal video?

Mike Christ

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Quote from: RodeoX on March 07, 2013, 07:00:59 PM

I think he heard the word "ponzi" and liked it. Didn't understand it, but he liked it.

It has a tickly feel to it if you emphasize the z Tongue

RodeoX

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The revolution will be monetized!

I think he heard the word "ponzi" and liked it. Didn't understand it, but he liked it.

lophie

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I just to add that with me coming from a computer science background and working in the IT field. What I like about Bitcoin the most is the idea of the block chain! That is the most awesome invention I lived to see so far! well, an invention that interests me Grin

lophie

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I was introduced to bitcoin before the infamous crash of MTGox. Then stopped mining and actually lost a wallet with 10BTC in it. (I would like to think I would find a copy of the wallet on a dusty disk somewhere....). Then Bitcoin just slipped my mind.

When I came back to Bitcoin scene it already got up to 5$ so it got me to wonder about what is Bitcoin exactly? After spending a very long time reading and learning alot of things. Economics, Currencies, Cryptography and the Bitcoin white paper and BIP several times.......

Bitcoin are not worthless and a derivative of it if not Bitcoin itself will get main stream big time. That if we all pitched-in in a way or another to help it.

marcus_of_augustus

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None of the people involved in the Ponzi ever think it is a Ponzi Wink

FreeMoney

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Quote from: Piper67 on March 07, 2013, 10:04:37 AM

Quote from: grondilu on March 07, 2013, 10:01:12 AM

I've watched the video and what really pissed me off was the claim that six millions bitcoins were mined before the whole thing went public.

Someone correct me if I'm wrong but Satoshi published his idea, with the source code about one month after he mined the first block, didn't he? It's not his fault or any other's fault if very little people paid attention at this time.

That's correct. It's disingenuous to say X number of Bitcoins were mined before it went public. In some very real sense, Bitcoin has not yet "gone public". Does that mean over half of them were mined before it did? No.

I actually thought it was just the genesis block which was published with the code and paper and the next block was a week after that. I may have it wrong, but I'm pretty sure he didn't spend a month mining alone.

anarchy

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If you stop promoting bitcoin because some random dude calls it a ponzi scheme, you are pretty stupid imo. Keep promoting it, how do you think we got here? Mute sheeple? No.

apetersson

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Quote from: grondilu on March 07, 2013, 02:00:56 PM

So I'll say it again: please stop bitcoin proselytism.

i have to agree somewhat, though we are guily of some as well. we organize bitcoin meetups where interested people who happen to be in vienna can come and chat with us.
less evangelism = slower price rise = more bitcoins for us to accumulate before the inevitable happens and bitcoin becomes completely mainstream.
so to get rich, people, STOP actively promoting bitcoin. Grin

(to be taken with a grain of salt, though i find "pushers" annoying, too no matter what they push. if an idea is good, it will grow from itself)

Gabi

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+1 to what grondilu said

grondilu

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Also, I totally understand this guy and I think he proves a point I had tried to make several times.

Basically he says that he had began suspecting bitcoin to be a Ponzi scheme whenever he started to receive tons of emails and other messages inviting him to learn about bitcoin and buy some. I totally understand how it may have looked to him: precisely like members of a pyramidal scheme trying their best to recruit new suckers.

So I'll say it again: please stop bitcoin proselytism.

One can make a Ponzi scheme out of anything. You basically just have to try very hard to have as many people as possible buy it at a higher price than the one you paid. Don't do that with bitcoin. Let people who need it or want to use it chose to do so by themselves.

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Quote from: BlackBison on March 07, 2013, 08:36:27 AM

Another idiot gold/silver bug. Just one problem: he called it a ponzi scheme in 2011 *snip*

Did youtube.com/user/TruthNeverTold say that? I also wonder how TruthNeverTold's youtube videos count as press?(edit: TruthNeverTold must be proud thinking "I'm as popular as CNN") Is it because the video has 3487 views or 173 likes and 54 dislikes? I added a dislike, do you think it will help? I doubt it and maybe we should just start caring about other stuff than silly actions done by people like TruthNeverTold who rant their mind before thinking(edit: + and not doing any research beforehand, I'm used to this.)

Severian

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Quote from: grondilu on March 07, 2013, 10:39:17 AM

there were quite a few people that indeed were trolling this idea that gold is a ponzi scheme.

I've found that those folks generally have an over-attachment to government-backed paper as money.

grondilu

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Quote from: Gabi on March 07, 2013, 10:36:27 AM

Gold is a ponzi Shocked

Before I knew about bitcoin, I was a gold bug. And I can assure you that on the forums where I was hanging out, there were quite a few people that indeed were trolling this idea that gold is a ponzi scheme. I'm not exagerating in any way whatsoever. I'd give you links but these forums were not in english.

Gabi

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If you want to walk on water, get out of the boat

Gold is a ponzi Shocked

grondilu

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On the other hand, I think the Ponzi scheme accusation is a fair one, and that's why I think we really should stop promoting bitcoin as we too often do. It's really too easy to interpret such noise as a way to bring new incomers in order to raise the price.

I think for instance of the way some of us keep harassing Wikimedia to accept bitcoins, or Rick Valvinge's recent article making a prediction for a price at about on hundred thousand dollars or something. This inevitably attracts skepticism and make the thing look like a scam. Stop it, please.

Just let people get to know about bitcoin by natural ways (the wikipedia page exists, after all), make their mind about it and use it as a medium of exchange whenever they need it. We have perfectly natural, commercial and not speculative use cases for bitcoin: gambling, Silk road, money transfer, IT services, donations and so on. There is no need to blow whistles and ring bells everywhere to attract the random internet user.

Piper67

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Quote from: grondilu on March 07, 2013, 10:01:12 AM

I've watched the video and what really pissed me off was the claim that six millions bitcoins were mined before the whole thing went public.

Someone correct me if I'm wrong but Satoshi published his idea, with the source code about one month after he mined the first block, didn't he? It's not his fault or any other's fault if very little people paid attention at this time.

That's correct. It's disingenuous to say X number of Bitcoins were mined before it went public. In some very real sense, Bitcoin has not yet "gone public". Does that mean over half of them were mined before it did? No.

grondilu

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I've watched the video and what really pissed me off was the claim that six millions bitcoins were mined before the whole thing went public.

Someone correct me if I'm wrong but Satoshi published his idea, with the source code about one month after he mined the first block, didn't he? It's not his fault or any other's fault if very little people paid attention at this time.

fancy_pants

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My favorite rebuttal to "bitcoin is just a ponzi" is "Of course it's a ponzi, but so is the dollar"

Topic: 2013-03-06 BitCoin Ponzi Scheme by Chris Duane (Truthnevertold) - page 2. (Read 3849 times)