Guys please keep the conversation coming. I really want to know what everyone think about bitcoin. Also, username (mayax) you owe me 2 bitcoins for wasting my time reading two stupid articles.
For the rest of you guys THANK YOU and KEEP the conversation coming. Love you ALL
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Topic: Bitcoin Ponzi scheme or not - page 5. (Read 4030 times)
to me its just a giant atm machine that planet earth chooses to use or not. even if u get in late and get dumped on,ur coin still has value, it can still do good shit.
No more than the fiat system...
Not a Ponzi scheme. Just a technology majority used by scammers and fraudsters solely because of its anonymity and transparency. Big difference, but the end result is essentially the same.
I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Anyone that believes that Bitcoin is a Ponzi scheme does not know what a Ponzi scheme is.
Quote from: http://en.wikipedia.org/wiki/Ponzi_scheme
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.
Bitcoin is 100% transparent and does not have an operator. By definition, it cannot be a Ponzi scheme.
NO
If your thinking Bitcoin is ponzi then you need to not bother with it and go elsewhere. If you know nothing about bitcoin then youtube and bitcointalk and much reading you need to do. Bitcoin is far from poniz or it would of gone a long time ago like the millions of ponzis and payment stuff that went into vapour. Once you read about bitcoin and you learn more about it you will understand its greater power.
Answer: No.
Explanation: You're a fool.
Explanation: You're a fool.
Voted Yes.
I like poisoning the results of poorly thought out and researched polls.
I like poisoning the results of poorly thought out and researched polls.
I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
bitcoin seems more like a collective delusion.
this will explain you more :
http://www.zdnet.com/article/bitcoin-confidence-game-is-a-ponzi-scheme-for-the-21st-century/
http://www.garynorth.com/public/11828.cfm
Can't believe I actually read this whole bullshit.
lol..same here!! Im not buyin that article at all!
I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
bitcoin seems more like a collective delusion.
this will explain you more :
http://www.zdnet.com/article/bitcoin-confidence-game-is-a-ponzi-scheme-for-the-21st-century/
http://www.garynorth.com/public/11828.cfm
Thank you for these very balanced articles that go into such depth on how Bitcoin really is an entirely new technology! NOT
Blockchains will be used for all kinds of things in the future this is just the beginning.
Anyone who has actually bothered to look at the way Bitcoin works and used it will tell you no, the people claim it is are making statements from ignorance, if you actually get them to explain their arguments you will regularly find they have absolutely no understanding of Bitcoin or the blockchain technology it is built on that makes it so unique.
Oh yeah and the people who claim it's a ponzi scheme also clearly don't understand what a ponzi scheme actually is either.
Oh yeah and the people who claim it's a ponzi scheme also clearly don't understand what a ponzi scheme actually is either.
Voted no. Bitcoin is essentially a technology! Would you say the Internet is a ponzi scheme?
Why do you think bitcoin is a ponzi scheme ?
All bitcoiners must get back to remember why bitcoins was invented. free from governement control free from established control decentralized. bitcoin for the people by the people
All bitcoiners must get back to remember why bitcoins was invented. free from governement control free from established control decentralized. bitcoin for the people by the people
Bitcoin is not a Ponzi scheme. Bitcoin doesn't have central authority.
Total voters : 32
Yes : 6 ( Bernie Madoff supporters )
Total voters : 32
Yes : 6 ( Bernie Madoff supporters )
voted no it doesn't bear enough characteristics of a ponzi to be called one but mining makes it sort of ponzi like in that constant influx of new fiat is needed for it not to fail
Yes yes, only Satoshi and a few others profited from this scheme in the beginning.
All the latecommers got the dick shaft up the anus. We all got Goxed, Stamped, (Enter fail word here).
If you're still on the BTC Train, get off now before you fall off the cliff to oblivion.
P.S. - Tongue planted firmly in cheek
All the latecommers got the dick shaft up the anus. We all got Goxed, Stamped, (Enter fail word here).
If you're still on the BTC Train, get off now before you fall off the cliff to oblivion.
P.S. - Tongue planted firmly in cheek
Ponzi scheme is paying earlier investors with the money received from new investors without actually investing. Bitcoin is more of an overvalued stock or a gamble for many (not even investment), so if you took a gamble and lost it doesn't necessary mean you've been scammed, right?
I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Perhaps it would be better to explain what a ponzi is, then you will know the answer to your own question. Bitcoin can not be a ponzi because it lacks the properties required to be one. In a ponzi the crime is that the true value of the asset is hidden by the issuer. Bitcoin does not have an issuer and the price is on display for all to see at the exchanges. I don't see how a vote will help clarify this. After all there was a time when a vote might have shown the Earth to be flat. But was it?
I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Hate to be that guy, but this has been discussed numerous times on this board - use the search feature. I recall seeing several Legendary users weigh in on this subject in the past you might find some good information searching the board.
Edit: Grammar
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