Topic: Bit Coin is a Ponzi Scheme - page 8. (Read 4734 times)
Bitcoin is not a ponzi scheme, it's a real digital currency that is here to stay, it will be accepted by all...
Your purported most intense superpower is as of now confronting challenges from all around the globe. In addition on the off chance that they are such a ground-breaking nation why have they not possessed the capacity to prevent any such cash from developing. Bitcoin has develop a significant circumstances I don't think Donald trump is that doltish that he hasn't generally seen such thing? Trust me no support will do anything when individuals feel themselves unreliable in their own nation. Bitcoin is how they are attempting to discover some flexibility
you just understand less about Bitcoin and other crypto currencies. how do you understand about paypal, payoneer, skrill. it's the same as a digital currency like bitcoin. just a little difference, they all have a centralized system, while bitcoin does not. but Bitcoin is appreciated by the otang people in the world. of course who knows the technology. while the USD money. appreciated by the government and can not be changed. I think Bitcoin is a commodity. because the same as gold, silver etc.
Op said that fiat has value because it is recognized by the law but then he questioned bitcoin having value. So fiat is actually worthless if the law does not recognized it and it's just basically a paper that anyone can make. Fiat has much more flaws than btc so reaserach first before bragging.
I tried to read what you wrote. There are some things that are logical in your presentation, but I think you have a problem in nature. Bitcoin is not Ponzi. The nature of Bitcoin is built on the blockchain chain. It is possible to analyze and exploit Bitcoin at a different value, but the nature of Bitcoin is Blockchain. If the things I share are not correct then I would love to hear your opinion.
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. For both Ponzi schemes and pyramid schemes, eventually there isn’t enough money to go around, and the schemes unravel.
Absolutely nothing about Bitcoin is a secret. It is one of the most open technologies in the world. It’s open source, anyone can review the code, anyone can contribute to the code, anyone can run the software voluntarily and participate in the network, and anyone can use the network without permission.
The entire history of all Bitcoin transactions is visible to anyone in the world too.
It’s a total paradigm shift from any kind of financial system in the history of mankind. It’s the total opposite of a fraudulent investing scam, which is shrouded in vague promises of high returns with capital inflows and outflows that are kept in a secret ledger.
Bitcoin doesn’t generate returns. It’s just software. The price of Bitcoin is directly correlated to its scarcity and demand. The demand is not forced on others, nor do Bitcoin’s biggest proponents go around asking people for money and telling them to invest more into Bitcoin. New users that join the Bitcoin network don’t fund the older users with new money. Not at all.
Absolutely nothing about Bitcoin is a secret. It is one of the most open technologies in the world. It’s open source, anyone can review the code, anyone can contribute to the code, anyone can run the software voluntarily and participate in the network, and anyone can use the network without permission.
The entire history of all Bitcoin transactions is visible to anyone in the world too.
It’s a total paradigm shift from any kind of financial system in the history of mankind. It’s the total opposite of a fraudulent investing scam, which is shrouded in vague promises of high returns with capital inflows and outflows that are kept in a secret ledger.
Bitcoin doesn’t generate returns. It’s just software. The price of Bitcoin is directly correlated to its scarcity and demand. The demand is not forced on others, nor do Bitcoin’s biggest proponents go around asking people for money and telling them to invest more into Bitcoin. New users that join the Bitcoin network don’t fund the older users with new money. Not at all.
Dude, you are in a wrong place, it's not a Ponzi scheme. Just because some people use bitcoin for Ponzi schemes we can't blame onto bitcoins because Ponzi schemes started with fiat currency and then came into crypto. I prefer you to first learn about blockchain technology before flaming in a public forum.
Well you may be right on the fact that bitcoin does not have the legal backing just like the dollars and people are not compelled to recognized bitcoin but the fact still remains the same that bitcoin is not a ponzi, bitcoin has survived more then the life Span that any ponzi scheme can survive. Bitcoin is a store of value and despite the fact that bitcoin is not supported by the authority it will still survive and keep serving the needs of our financial life.
Bitcoin is "neutral", so I do not agree nor disagree with the OP. If we use it as a Ponzi scheme, it can have some characteristics of it. 
One could say that Bitcoin sometimes works as a "decentralized Ponzi". There is no centralized party that profits from it, but multiple early adopters or "buy-low-sell-high"-speculators ... in this sense, the OP is correct. So don't be naive: Most of the bulls that are talking about a $1M Bitcoin are wanting to sell their coins to a greater fool. This is very similar to ponzis.
But ...
That is the idea. And thus, Bitcoin may have some Ponzi'esque characteristics, but it is not only a Ponzi.
Time will tell if we can break out of the speculative boom-bust-cycle which makes BTC appear like a Ponzi, or if we can make Bitcoin a real success as a currency. As of today, it is uncertain.
I want to quote from INVESTOPEDIA : "A Ponzi scheme is an investment fraud where clients are promised a large profit at little to no risk." Take note of the following:
- When we buy Bitcoin nobody is promising us large profit.
- Nobody says that when you invest on Bitcoin there is no risk. We all know that Bitcoin is a cryptocurrency which is volatile, so risk is involved.
Well, "nobody" is false, unfortunately. Before Google and Facebook banned cryptocurrency ads, I got a large amount of ads trying to get me into buying Bitcoin or $Altcoin, promising me to become a millionaire instantly.- When we buy Bitcoin nobody is promising us large profit.
- Nobody says that when you invest on Bitcoin there is no risk. We all know that Bitcoin is a cryptocurrency which is volatile, so risk is involved.
One could say that Bitcoin sometimes works as a "decentralized Ponzi". There is no centralized party that profits from it, but multiple early adopters or "buy-low-sell-high"-speculators ... in this sense, the OP is correct. So don't be naive: Most of the bulls that are talking about a $1M Bitcoin are wanting to sell their coins to a greater fool. This is very similar to ponzis.
But ...
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Second point, Bitcoin is a VALID Currency.
That is the idea. And thus, Bitcoin may have some Ponzi'esque characteristics, but it is not only a Ponzi.
Time will tell if we can break out of the speculative boom-bust-cycle which makes BTC appear like a Ponzi, or if we can make Bitcoin a real success as a currency. As of today, it is uncertain.
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Just my thoughts... Thanks
Idem. 
bitcoin instead of bitcoin ponzi scheme is more likely to buy and sell just bitcoin actually does not introduce ponzi, which makes bitcoin into ponzi scheme is irresponsible person so they involve bitcoin in their game.
The value of Bitcoin is currently due to investors! not real value! It takes a lot of time to develop and build the community and influence the international payment system!
You are completely wrong with that, if you are jealous because you dont even have a bitcoin on your wallet, it is not our fault.
Why are you complaining? Is it because you did not earned enough money by working 10 hours a day in your country? Or is it because you dont even have money to invest in here
I have read a lot of fud like this on the forum, but a ponzi scheme? Do you know what a really ponzi scheme is? i think that you dont.
I would not even bother myself into reply this thread because it a troll , it is obviously a troll..
Why are you complaining? Is it because you did not earned enough money by working 10 hours a day in your country? Or is it because you dont even have money to invest in here
I have read a lot of fud like this on the forum, but a ponzi scheme? Do you know what a really ponzi scheme is? i think that you dont.
I would not even bother myself into reply this thread because it a troll , it is obviously a troll..
totally agree, the OP is so technically misinformed and stupid its not even worth the space it has taken up. I'd say he's merit fishing in the wrong pond.
To thus who hate bitcoin I think they are a victim of a ponzi scheme scam using bitcoin. Bitcoin itself is not a scam it is a cryptocurrency, study first about bitcoin before you hate it.
Lol I think it's just speculation from haters right? even bitcoin system is very different with ponzi, no reset, no scam, and so forth. pure bitcoin as currency and investment commodities that have fluctuating prices, but that fluctuation does not mean it is a ponzi system
To thus who hate bitcoin I think they are a victim of a ponzi scheme scam using bitcoin. Bitcoin itself is not a scam it is a cryptocurrency, study first about bitcoin before you hate it.
You are right, or maybe they bought bitcoin in high price then bitcoin dropped so they sold it with low rate. Also some fud people really spread bad things about bitcoin.
How will bitcoin be its own currency without the use of fiat.. without it using fiat currency to drive the price up?
It is true that new investors will not make as much profit as the early adopters. But that does not mean it is bubble, it is very much real with real life applications.
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.
First of all, I just want to share to everybody here the definition of "Ponzi Scheme" because I guess you have a misconception on that matter. I want to quote from INVESTOPEDIA : "A Ponzi scheme is an investment fraud where clients are promised a large profit at little to no risk." Take note of the following:
- When we buy Bitcoin nobody is promising us large profit.
- Nobody says that when you invest on Bitcoin there is no risk. We all know that Bitcoin is a cryptocurrency which is volatile, so risk is involved.
Second point, Bitcoin is a VALID Currency. Let us read what wikipedia says: "A currency in the most specific use of the word, refers to MONEY IN ANY FORM when in actual use or circulation as a medium of exchange. We use Bitcoin to trade and buy commodities. If it is not a valid currency, then we can't do those things.
Third, where does Bitcoin gets its value? Same with the USD, based on the demand. Take note, BOTH Bitcoin and USD are currencies NOT BACKED UP BY PHYSICAL COMMODITY. Both their values are derived from the relationship between supply and demand. So, both currencies are faith-based.
Finally, I would say that the Bitcoin supporters don't need remedial education...
Just my thoughts... Thanks
There is still downtrend on a market.. peopel are saying this is bubble or ponzi becouse of this. Way 2-3 months and they will be joining to us, becouse they will start see a potentional and that bitcoin is usefull in real life.
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.
Oh boy if you don't believe on bitcoin and you think it is just a ponzi scheme "why you are still here in the forum?". You know what makes bitcoin looks like a ponzi scheme because of some scammers that make use of bitcoin to scam people.
I like a ponzi scheme bitcoin because I earned extra money out of it.
no, bitcoin is not a Ponzi scheme. First, there is no regulatory center in it. secondly and in the main, this is a group of people building a new economy that can change the financial system of the whole world. The Ponzi scheme is a zero-sum game, and its founders convince investors that they will make a profit. and those - each next who will enter.
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