Topic: Bitcoin is a Ponzi Scheme. Check my logic. You better hope I'm wrong. (Read 1963 times)
September 15, 2017, 03:32:34 AM
It's not that I'm in a panic but big investors would really have a different kind mind set when it comes to this. We may not be affected by this because we are just users and traders who do small trades but this is a multi million dollar trade. Any small news is an issue and China is really making great change about the price. It may take another long time for btc to recover from this.
September 15, 2017, 12:40:58 AM
I almost intentionally deactivate my account on bitcointalk and my wallets. Then I forget I have to in cash my money and buy some cold beer out of it. Oh! A newbie account, oh well. Or maybe an alternative account. I just can't take how pathetic this be and a little bit worried about what he is into. I'm not even satisfied for a post so long without any concrete proofs of an accusation. Oh men.
September 13, 2017, 05:11:00 PM
A good joke, millions of people are seeing that bitcoin is the currency of the future. How do you say this?
You are against technology, and you will not be able to do it yourself. If this is true then I'm sure the bitcoin price will not be as expensive now.
You are against technology, and you will not be able to do it yourself. If this is true then I'm sure the bitcoin price will not be as expensive now.
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September 12, 2017, 10:07:14 AM
we all know that this is bait. because we all know how successful bitcoin is and it is still growing. and may I ask why you are in this forum and have a bitcoin address if you truly believed that bitcoin is a scam?
and most of all why do you have btc and eth addresses in the bottom part of your post.
September 12, 2017, 09:00:03 AM
Ohh Really ? Then what are you doing on this forum which is specially for bitcoins. I think you have tried to get more views for youtube videos; good attempt.
September 09, 2017, 05:59:11 AM
Why nobody wants to holler, that "Dollar is a ponzi scheme"?
September 09, 2017, 05:57:48 AM
I read your OP hoping you were wrong.... fortunately, you absolutely were 
Cashing out btc is simple if you don't fear KYC, and exchangers are covering their own ass ass usual. Roger Vern is rich just because he knew about it first and invested in it like a maniac. Your arguments are invalid.
Cashing out btc is simple if you don't fear KYC, and exchangers are covering their own ass ass usual. Roger Vern is rich just because he knew about it first and invested in it like a maniac. Your arguments are invalid.
September 09, 2017, 05:46:38 AM
it can be true...if so them other fiat asset are ponzi too!
September 09, 2017, 12:55:36 AM
Quote
OP, Bitcoin does not fit the definition of Ponzi scheme for various reasons:
There are no paid dividends to any investors.
The purpose of using bitcoin isn’t to recruit new participants.
There’s no centralized body that funnels money up to the top.
Unlike Ponzi schemes, Bitcoin will still have value and continue to function even if no new participants join the ecosystem.
According to the strict definition of a ponzi, I really think that Bitcoin will not qualify. Plus we have to understand that the value of Bitcoin is going up and can also go down...a feature not included in the ponzi definition. What analysts are saying is that Bitcoin can be a bubble...I think that is where the debate is and not that it is a ponzi.
September 08, 2017, 11:43:55 PM
Yes Bitcoin works like a Ponzi scheme. If it succeed, it's considered as a groundbreaking innovation, let invest into it. If it fails, people will call it a Ponzi scheme.That's how this world works.
September 08, 2017, 10:39:15 PM
Good luck touting that idea here.. We all heard it before.
1. there are many ways to cash out large amounts of coins.. you can do over $200,000 K on kraken no problem!
2. If bitcoin was a ponzi then many large companys that accept it would have nothing to do with it.. It would have been attacked by goverments and every exchnage owner arrested and jailed.
3. It sounds to me like you had a lot of shorts on and you lost out we see topics here many times before saying bitcoin is a scam its ponzi. News flash.. We live in a ponzi world. FIAT is ponzi banks spent out money they lose they get bailed out by the tax payers they lose some more they take more bail out money from who? you guessed it tax payers.. So everything is really a ponzi.
4. What about miners? If bitcoin is a ponzi then what purpose would mining be? why would satoshi not have pre-mined bitcoin all coins and distrobuted them via the exchanges? why go to the trouble to create a de-central network of machines or was that planned to so we could have companys churning out asic and gpu's?
5. Bitcoin was not gained "easy" yes sure in the early days you could mine on PC then GPU now ASIC but you need to realise that without the easy adoption at the start then we would not have all what is set before us today!
6. At some point the price will reduce again but so dose the value of the coins in your pocket or the money in your bank dew to the same reasons
1. there are many ways to cash out large amounts of coins.. you can do over $200,000 K on kraken no problem!
2. If bitcoin was a ponzi then many large companys that accept it would have nothing to do with it.. It would have been attacked by goverments and every exchnage owner arrested and jailed.
3. It sounds to me like you had a lot of shorts on and you lost out we see topics here many times before saying bitcoin is a scam its ponzi. News flash.. We live in a ponzi world. FIAT is ponzi banks spent out money they lose they get bailed out by the tax payers they lose some more they take more bail out money from who? you guessed it tax payers.. So everything is really a ponzi.
4. What about miners? If bitcoin is a ponzi then what purpose would mining be? why would satoshi not have pre-mined bitcoin all coins and distrobuted them via the exchanges? why go to the trouble to create a de-central network of machines or was that planned to so we could have companys churning out asic and gpu's?
5. Bitcoin was not gained "easy" yes sure in the early days you could mine on PC then GPU now ASIC but you need to realise that without the easy adoption at the start then we would not have all what is set before us today!
6. At some point the price will reduce again but so dose the value of the coins in your pocket or the money in your bank dew to the same reasons
September 08, 2017, 10:19:28 PM
Is this a troll post?? Is this even serious?? Pretends he knows what a ponzi is, yet links to a video explaining it, and it just proves bitcoin is not ponzi???
I can get my money out anytime I please.
There is no operator
Bitcoin itself is not fraudulent
money does not pile up to the original investors like a triangle, I can buy 100,000 bitcoins and have much more profits than original investors
OP is troll
I can get my money out anytime I please.
There is no operator
Bitcoin itself is not fraudulent
money does not pile up to the original investors like a triangle, I can buy 100,000 bitcoins and have much more profits than original investors
OP is troll
September 08, 2017, 08:08:31 PM
Are you kidding 
really low your way of thinking, bitcoin has more value not because of limited supply.
if you learn more deeply surely you know what technology is in Bitcoin.
do you really understand about blockchain ?
really low your way of thinking, bitcoin has more value not because of limited supply.if you learn more deeply surely you know what technology is in Bitcoin.
do you really understand about blockchain ?
OP, Bitcoin does not fit the definition of Ponzi scheme for various reasons:
There are no paid dividends to any investors.
The purpose of using bitcoin isn’t to recruit new participants.
There’s no centralized body that funnels money up to the top.
Unlike Ponzi schemes, Bitcoin will still have value and continue to function even if no new participants join the ecosystem.
you are conflating the "greater fool theory" with "ponzi scheme". let me define;
https://en.wikipedia.org/wiki/Greater_fool_theory
Quote
The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants.[1] A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.[2][3][4] In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later.
In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price.[8] It is also called survivor investing. It is similar in concept to the Keynesian beauty contest principle of stock investing.
In the stock market, the greater fool theory applies when many investors make a questionable investment, with the assumption that they will be able to sell it later to "a greater fool". In other words, they buy something not because they believe that it is worth the price, but rather because they believe that they will be able to sell it to someone else at an even higher price.[8] It is also called survivor investing. It is similar in concept to the Keynesian beauty contest principle of stock investing.
but a ponzi scheme? nah
September 07, 2017, 11:17:44 AM
Are you kidding really low your way of thinking, bitcoin has more value not because of limited supply.
if you learn more deeply surely you know what technology is in Bitcoin.
do you really understand about blockchain ?
really low your way of thinking, bitcoin has more value not because of limited supply.if you learn more deeply surely you know what technology is in Bitcoin.
do you really understand about blockchain ?
September 05, 2017, 08:37:40 AM
You're trying to act smart with your theories, OP, but you've failed to do your research.
Wrong, the price has reached $1000 in 2013 and remained above $600 for at least 5 months in 2014, so it's not like it went from $500 to $5000 in a year. It actually took 14 months straight since the last ~$500 point in 2016, but it was obvious people oversold in 2015 when they allowed the price to go below $200. You had to be crazy to sell at those prices.
Also, according to you early buyers like Andreas are the ponzi masterminds, convincing people to buy. So all those huge investors, companies, millionaires, they are all listening to Andreas, Roger and all the other geeky early adopters, right? They don't have their own brains and haven't done any research, they need to read nerd stories on reddit to know where to put their millions... I'm out.
Quote
In just the last year Bitcoins value has increased from $500 to almost $5000.
Wrong, the price has reached $1000 in 2013 and remained above $600 for at least 5 months in 2014, so it's not like it went from $500 to $5000 in a year. It actually took 14 months straight since the last ~$500 point in 2016, but it was obvious people oversold in 2015 when they allowed the price to go below $200. You had to be crazy to sell at those prices.
Also, according to you early buyers like Andreas are the ponzi masterminds, convincing people to buy. So all those huge investors, companies, millionaires, they are all listening to Andreas, Roger and all the other geeky early adopters, right? They don't have their own brains and haven't done any research, they need to read nerd stories on reddit to know where to put their millions... I'm out.
The bolded part is one important place that the media always shy away from by focusing on only the part of movement without considering the amount of time it took as well as crashes that happen along the way in other to get to the point they are focusing on the same thing Op is doing. I am sure you must be happy with your analogy based on the current price but unfortunately the reason why the price is showing a downward trend is not one the reasons you alluded and could be traced to something that holds tight.
September 04, 2017, 04:58:10 PM
You're trying to act smart with your theories, OP, but you've failed to do your research.
Wrong, the price has reached $1000 in 2013 and remained above $600 for at least 5 months in 2014, so it's not like it went from $500 to $5000 in a year. It actually took 14 months straight since the last ~$500 point in 2016, but it was obvious people oversold in 2015 when they allowed the price to go below $200. You had to be crazy to sell at those prices.
Also, according to you early buyers like Andreas are the ponzi masterminds, convincing people to buy. So all those huge investors, companies, millionaires, they are all listening to Andreas, Roger and all the other geeky early adopters, right? They don't have their own brains and haven't done any research, they need to read nerd stories on reddit to know where to put their millions... I'm out.
Quote
In just the last year Bitcoins value has increased from $500 to almost $5000.
Wrong, the price has reached $1000 in 2013 and remained above $600 for at least 5 months in 2014, so it's not like it went from $500 to $5000 in a year. It actually took 14 months straight since the last ~$500 point in 2016, but it was obvious people oversold in 2015 when they allowed the price to go below $200. You had to be crazy to sell at those prices.
Also, according to you early buyers like Andreas are the ponzi masterminds, convincing people to buy. So all those huge investors, companies, millionaires, they are all listening to Andreas, Roger and all the other geeky early adopters, right? They don't have their own brains and haven't done any research, they need to read nerd stories on reddit to know where to put their millions... I'm out.
September 04, 2017, 04:53:52 PM
Coinbase withdrawal limit is only $10k per day. There just isn't an easy way to convert large amounts, a fact that is always overlooked. The fact of the matter is most people have already lost most of their money. They just don't know it yet.
10000k bitcoins will take you awhile to turn to cash.
does not look like a ponzi to me.
September 04, 2017, 04:33:40 PM
Bitcoin is a Ponzi Scheme. Here's my btc wallet. Please contribute. Funny Guy.
September 04, 2017, 04:31:44 PM
He is so angry and called bitcoin everything and yet he posted his bitcoin and ETH address at the end. Wow!
I guess he still want to have some of it or be part of it.
You lost a lot that is why you will think like that. You might have been right with some of the points but not everything.
I am happy some of the users here have their own opinion not just going with the flow.
I thought I was the who saw that part but I am glad you pointed it out for someone who stood against something and still believe in it is double standard if you ask me. I will the refrain from attacking the messenger rather than the message and that's what it has been sum up to in that let's assume they are all wrong I mean the early adopters does that also mean the whole of Chinese crypto community are wrong? Or the Chinese or the Japanese among other countries down to multinationals that have indicated their interest in bitcoin over the years?. I guess he still want to have some of it or be part of it.
You lost a lot that is why you will think like that. You might have been right with some of the points but not everything.
I am happy some of the users here have their own opinion not just going with the flow.
September 04, 2017, 11:24:16 AM
He is so angry and called bitcoin everything and yet he posted his bitcoin and ETH address at the end. Wow!
I guess he still want to have some of it or be part of it.
You lost a lot that is why you will think like that. You might have been right with some of the points but not everything.
I am happy some of the users here have their own opinion not just going with the flow.
I guess he still want to have some of it or be part of it.
You lost a lot that is why you will think like that. You might have been right with some of the points but not everything.
I am happy some of the users here have their own opinion not just going with the flow.
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