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Topic: [2014-1-31] Bloomsberg: Bitcoin ‘Ponzi’ Concern Sparks Warning From Estonia Bank (Read 719 times)

sr. member
Activity: 476
Merit: 250
Maybe they don't know what a ponzi is. Give the guys a break  Tongue
hero member
Activity: 686
Merit: 500
vini, vedi, no vici.
You have to be illiterate to consider Bitcoin a ponzi scheme.

I'd say you have to be economist/half literate/skeptic or central bank to consider Bitcoin as ponzi scheme.
full member
Activity: 798
Merit: 100
You have to be illiterate to consider Bitcoin a ponzi scheme.
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
Lol, warnings from "central banks"  Roll Eyes
sr. member
Activity: 868
Merit: 250
If you operate a Ponzi, you accuse the competition being a Ponzi.

Quote
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from existing capital or new capital paid by new investors, rather than from profit earned by the individual or organization running the operation. ...  The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.
http://en.wikipedia.org/wiki/Ponzi_scheme

To me it sounds like governments invented it.
hero member
Activity: 686
Merit: 500
vini, vedi, no vici.

For fucks sake I wish these people would just do some fucking research.


That's why I've initiated post to contribute: https://bitcointalksearch.org/topic/collection-of-research-paperjournals-on-bitcoin-441611
Contribution is required!
legendary
Activity: 1540
Merit: 1000
I can see ponzi scheme becoming one of those phrases everybody throws around for any investment they don't like without actually understanding what the term really means and yet again even in comments I'm seeing the tulip craze while these people conveniently forget that it is hard coded that there will only ever be 21 million coins in the world.

For fucks sake I wish these people would just do some fucking research.


Yey, logic and rationality!: https://en.bitcoin.it/wiki/Myths
legendary
Activity: 3766
Merit: 1217
Eastonia, along with Latvia is one of the prime destinations of Russian dirty money (especially after the collapse of Cyprus). And they are now calling BTC as ponzi...
hero member
Activity: 686
Merit: 500
vini, vedi, no vici.
Other central banks are issuing warning for virtual currency and here Estonia central bank considers it as ponzi. Wow! If I remember, then estonia is advanced country where they've wifi cities.

http://www.bloomberg.com/news/2014-01-30/bitcoin-ponzi-scheme-worry-sparks-estonia-central-bank-caution.html
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