Topic: Bit Coin is a Ponzi Scheme - page 7. (Read 4734 times)
Bitcoin is not a ponzi scheme. This is a misconception by so many people who believed Bitcoin to be a pyramid scheme like some other platforms that have taken their money away based on certain returns.
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors.”
If you have not read the original proposal paper of Satoshi Nakamoto published in late 2008, you should. It’s eight pages long, quite technical, but is not too hard to digest. You’ll notice that never in that paper does it mention any kind of return on an “Investment” in Bitcoin. It never even mentions a price for one Bitcoin.
If you have not read the original proposal paper of Satoshi Nakamoto published in late 2008, you should. It’s eight pages long, quite technical, but is not too hard to digest. You’ll notice that never in that paper does it mention any kind of return on an “Investment” in Bitcoin. It never even mentions a price for one Bitcoin.
Bit coin is a Ponzi scheme. Don't listen to the bit coin shills on here. The newcomers buying into bit coin and driving up the price are just making the early adopters richer.
That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.
The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.
Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?
If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.
That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.
The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.
Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?
If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.
The simple answer I have got for you is that you study the bitcoin whitepaper and the other meaningful cryptocurrency documents an see for yourself the error you are in. Then you should understand that no scam no matter how foolproof is guaranteed runs for 9years and counting. Consider the scams and ponzi schemes and even the dotcom bubble and see how long they ever late? It might interest you to know that the banks that want to have a slice of the cake are seriously giving the bitcoin a little more respect and consideration, because it is the currency for the future.
its a pile of poo and will never be a real currency but its not a ponzi. Although its behaving like one and the last ones caught a the top will lose everything.
Bitcoin represents a completely level and fair playing field because the economics of adoption and growth cannot be controlled by anyone. It is certainly a lot more durable and trustworthy than governments, Bitcoin is the future of money, Government are recognizing that widespread use of cryptocurrency presents a far bigger opportunity than a threat.
No bitcoin is not a ponzi scheme, its a crypto currency, a decentralized blockchain.
The Ponzi scheme is an investment fraud activity that pays profit to investors of their own money, or money already paid by the previous investor, and not from the profits earned by each individual running the business. The Ponzi scheme is designed to collapse on the last investor funding when the number of new participants is not enough.
Calling Bitcoin a Pnnzi scheme usually stems from jealously of not getting in early enough. There will always be people that got in earlier than you, so it shouldn't be reason to call something a ponzi. I'm sure people wish they bought Amazon under 10 dollars a share but it's still a good investment to buy just like bitcoin.
In the sense of the ponzi scheme, the products people buy and invest in are worthless, but do you think the BTC is something without cost or value? If you think so, then I really can't refute you. 
If you think bitcoin is a ponzi scheme, you either don’t understand cryptocurrencies and the blockchain or you don’t understand ponzi schemes. Some people see Bitcoin as currency, just as they see the USD, EUR and YEN as currency. They use them all for that purpose. Bitcoin is money, nothing more, nothing less.
How about you..? why are you here? if you want to make aware of the crypto community. I think you will be aware of crypto and its network. you are right the USD currency is valid. but Bitcoin's goal is to make it easy for a payment transaction, fast transfers between countries, and most of all transparent transactions and small fees. whether USD can do this. how can someone send $300 million with a $0.04 fee. can the central bank do that.? no. only bitcoin can do that. and this is the solution everyone is looking for in the world. without a middle man. and USD or any other real currency can't do this.
bitcoin is a currency from the simple fact that you can buy things with it or trade it for another coin if you want just as you do if you buy something in another country that use different currency than yours. with your logic everyone who use dollars or any fiat money is being schemed cause he trades something with actual value(like food) for something with no actual value like the dollar. and no, "required by law to recognize it's value" don't mean much when people realize that they can't buy what they actually need with the fiat currency(with the "real value") and you can see it in countries with fiat currency crisis like venezuela and iran. in the previous decade there was also the example of the Zimbabwean dollar that lost all of its value within a few years and turned into nothing but a piece of paper you can only use for wiping your ass.
the country can only promote the fake value of the money but at the end its value becomes just as fake as any other coin whether it is a fiat coin or cryptocurrency cause you can't do anything with a piece of paper called a dollar other than trading it for something you realy can use like food or a car.
"imaginary currency that only exists virtually", when you look at the numbers in your bank accounts and see something like 30000$ in the account what do you think this number represent? a vault in the bank full of dollars with your name written on it?, nope, they are just "only exists virtually" cause all the banking systems works with computers.
cryptocurrency skeptics like you tend to forget(or not bothering to know)what the "real money" is and how its work.
but bitcoin can be somekind of a scheme if you only want to use it as an investment and expect its prices to get skyrocketed again and again and make you rich, many of those people are actually more like you cause like you cause they don't see bitcoin(or other cryptocurrencies) as currency at all and only see it as an investment or scheme they can use to make money.
the country can only promote the fake value of the money but at the end its value becomes just as fake as any other coin whether it is a fiat coin or cryptocurrency cause you can't do anything with a piece of paper called a dollar other than trading it for something you realy can use like food or a car.
"imaginary currency that only exists virtually", when you look at the numbers in your bank accounts and see something like 30000$ in the account what do you think this number represent? a vault in the bank full of dollars with your name written on it?, nope, they are just "only exists virtually" cause all the banking systems works with computers.
cryptocurrency skeptics like you tend to forget(or not bothering to know)what the "real money" is and how its work.
but bitcoin can be somekind of a scheme if you only want to use it as an investment and expect its prices to get skyrocketed again and again and make you rich, many of those people are actually more like you cause like you cause they don't see bitcoin(or other cryptocurrencies) as currency at all and only see it as an investment or scheme they can use to make money.
Bit coin is a Ponzi scheme. Don't listen to the bit coin shills on here. The newcomers buying into bit coin and driving up the price are just making the early adopters richer.
That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.
The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.
Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?
If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.
That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.
The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.
Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?
If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.
then ? why are you discussing here? what's in it for you? or you lose big and then depression?
I think you can learn the history of bitcoin from the first time it was created. this discussion has greatly evolved over time to say that bitcoin is a ponzy scheme. and it was very wrong.
LOL... I am surprised to see a user of this forum saying Bitcoin is a ponzi. This really show a little knowledge of Bitcoin and block chain technology. BTC is not a ponzi a real technology.
People who think that BTC is a side scam are just ignorant and short-sighted.
BTC has created tremendous value on a global scale, with thousands of startups and businesses creating tens of thousands of jobs that provide value to users, infrastructure, hardware, software and applications.
BTC has created tremendous value on a global scale, with thousands of startups and businesses creating tens of thousands of jobs that provide value to users, infrastructure, hardware, software and applications.
The question you asked is currently No, is the answer, because bitcoin is a digital currency that is used for buying and selling of goods and services, which perfectly working online, therefore all depends on you, if you want to use it for Ponzi scheme to earn money
bitcoin is not a ponzi scheme because there are managed by ssytem and very tranparent for all user, but in this world the bitcoin is used by bad people as the media to makes a ponzi scheme, because bitcoin is the one platfrom that has the good system, so they can use the bitcoin easily to use it for their ponzi system application. so we need to be careful if we want to invest in a web with bitcoin payment, maybe that investment program is the one of ponzi scheme
Bitcoin is and was never a ponzi scheme many people have proven that. If bitcoin is a ponzi scheme then bitcoin could have die out years ago yet more and more people are buying and using it. Bitcoins popularity still increases and people are still crazy about it while you are still hating on bitcoin instead of enjoying its benefits.
its not a ponzi scheme, bitcoin is decentralized currency that is real and confirmed,cant be compared with ponzi scheme thats not reliable and trusted.
Every Ponzi scheme operates a pyramid system with no intrinsic value. Bitcoin is not like that. Bitcoin is a currency, it's can be used for numerous stuffs and also a store of wealth
Multi-level financial mobilization is a form of fraud that combines the Ponzi scheme and the power of a multi-level model. As a result, the network business also enjoys the reputation of it. And I assert that bitcoin is not the same as ponzi
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