Bitcoin Report: Is the World Bank a Ponzi scheme?

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Quote from: Elwar on July 21, 2014, 04:46:16 AM

So the World Bank is not a ponzi as long as they have the power of guns to force people to keep using their product. Without that power people would stop using it and it would all collapse.

Bitcoin has no such guns forcing people to use it.

Is this a distinct disadvantage of Bitcoin? Should we start pushing for the backing of guns so that we can compete with banks?

So the next big thing is an army accepting bitcoin Cool

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: ajareselde on July 18, 2014, 08:38:45 AM

Quote from: Elwar on July 18, 2014, 05:20:11 AM

So the World Bank isn’t a bank. It is [by the way] a Ponzi game and a conduit for criminal/illegal activities. And it isn’t safe given war funding destabilizing nations.

The main value of the World Bank may, in retrospect, turn out to be the lessons it offers bitcoins on the prospects of banking, and on how to enhance efficiency and cut transactions cost.

I think of world bank not realy as a ponzi scheme, but rather as a bully forcing people to take their paper, and return it with interests that dont exist, making it impossible to return whole debt in general.

Same opinion on that the World Bank loans money it doesn't really need to worry about or print and then demands resources goods and destruction of their economy to pay back the debt in full.
Why some countries cringe at the idea of extreme restructuring

And na its an advantage of Bitcoin since people will want to use something that has a recognized value even though its voluntary, people can't choose to not use their common currencies but people can choose to use Bitcoin instead.

@Elwar Someone necroed something good I put up a long while ago (Basically This) What O'leary said
http://www.cbc.ca/player/News/Business/ID/2375415659/

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

So the World Bank is not a ponzi as long as they have the power of guns to force people to keep using their product. Without that power people would stop using it and it would all collapse.

Bitcoin has no such guns forcing people to use it.

Is this a distinct disadvantage of Bitcoin? Should we start pushing for the backing of guns so that we can compete with banks?

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Elwar on July 18, 2014, 05:20:11 AM

So the World Bank isn’t a bank. It is [by the way] a Ponzi game and a conduit for criminal/illegal activities. And it isn’t safe given war funding destabilizing nations.

The main value of the World Bank may, in retrospect, turn out to be the lessons it offers bitcoins on the prospects of banking, and on how to enhance efficiency and cut transactions cost.

I think of world bank not realy as a ponzi scheme, but rather as a bully forcing people to take their paper, and return it with interests that dont exist, making it impossible to return whole debt in general.
When people talk about "ponzi", they think about something that looses a value if there are no more people buying that asset, but that just described every asset in the market.
What makes a real ponzi, is that after the final pyramid floor , asset dissapears with ponzi organizer himself.

For bitcoin to be a ponzi, both blockchain , and bitcoin would have to dissapear, and that is impossible

Meuh6879

legendary

Activity: 1512

Merit: 1012

yep, always the same result : Bitcoin save all people... from politics Cheesy

https://www.youtube.com/watch?v=joITmEr4SjY

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

So the World Bank isn’t a bank. It is [by the way] a Ponzi game and a conduit for criminal/illegal activities. And it isn’t safe given war funding destabilizing nations.

The main value of the World Bank may, in retrospect, turn out to be the lessons it offers bitcoins on the prospects of banking, and on how to enhance efficiency and cut transactions cost.

Topic: Bitcoin Report: Is the World Bank a Ponzi scheme? (Read 979 times)