Topic: BTC is near end, proof block 2 - page 2. (Read 1806 times)

I've been heard and read this word for a long time ago, that the bitcoin is nearly dead. But until now bitcoin still exists. Suddenly this words entered into my mind, "people who say, that the bitcoin is nearly dead is a victim of the so-called FAKE/FALSE news". LOL.

Seems OP belongs to the pentagon. Man its not a pyramid scheme otherwise it wold have shut down in few months after its emergence.

Well you have 'some' proofs as that is how you think it is however, I will take you on the issue of the Ponzi scheme. A ponzi scheme is a triangular or pyramidal flow from the TOP to the BOTTOM (and not the way you pointed it) It must be also understood that the idea of ponzi is to take from one person and pay the peple upward. this is NOT the case with bitcoin as no one has asked me to pay so that they can pay the people before me and also asking those underneath me to pay money before I can be paid. Bitcoin started over 9years ago and I am not aware of a ponzi that has last that long not even the dot.com bubble. so btc is Not a scam!

Like someone pointed out, Satoshi's initial motivations are pretty clear from the whitepaper and his initial posts. If in doubt, read the posts curated at this link.

Could you explain, how can a market with fair supply and demand be a ponzi scheme?

Fyi this is the definition of a ponzi scheme:

A Ponzi scheme (/ˈpɒnzi/; also a Ponzi game) is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors.

This topic will be probably be locked very soon and I have to repost it to CNC.
In my opinion BTC is a pyramid, a ponzi and a pump and dump scheme at the same time. Here is why:

1) BTC is a pyramid scheme for 2 reasons.

a) only way to generate new coins, is to mine. And mining is getting 2 times more pointless with every halvening. That is an optimistic estimation and is precise only in condition is number of miners remains constant. If number of miners doubles within one halvening period, mining will get 4 times more pointless!

Satoshi (and small group early miners):  huge reward in return of computing power                        $$$$$$$$$$$$$$$$
After few halvenings (much bigger group of miners): 2 times less money in return of same task                $$$$$$$$
Now (huge group of miners): many times less money for same task                                                             $

A clear pyramid.

b) Pyramids are defined as schemes that dont involve a real product behind it. BTC supporters claim, they have product. Well, I say, its just a camouflage. Kyäni masked scheme with juice drink, Kairosplaner masked scheme with whole user interface. They were still schemes.

BTC is scheme because it can not be scaled to necessary volumes (or even nearly close) and this information is kept secret. Instead of admitting it, users are promised with savious like lightning network etc.

2) BTC is also a ponzi scheme.

In Ponzi schemes "investors" are being paid with money, that come from new joiners. That is also the case with BTC. You can earn either with mining (which is a pyramid) or by selling Your coins to Greater Fool. Although this is well masked with sites, that do BTC brokering and give quite authentic feeling of trading with real "asset", its not the case. Only way, You earn with BTC, is by selling it to another person.

3) BTC is also a pump and dump scheme. For understanding that, You should read more about this kind of frauds and then start to record BTC price change. Every important price change (without exceptions) happens in few minutes, leaving other users outside pumpers a marginal change to react. I know, it sounds rude, but thats how it is.
Median transfer value is several hundred dollars, while few whales drive to to several thousands.

I´m sorry, I dnt have any better news for those who sincerely think, BTC is a phenomenal technology and investment opportunity.

We dont know for sure Satoshi´s initial motivation. But You are right in one thing: not only BTC should be blamed in being scheme. All cryptos are.

A generation ago, multi-user time-sharing computer systems had a similar problem. Before strong encryption, users had to rely on password protection to secure their files, placing trust in the system administrator to keep their information private. Privacy could always be overridden by the admin based on his judgment call weighing the principle of privacy against other concerns, or at the behest of his superiors. Then strong encryption became available to the masses, and trust was no longer required. Data could be secured in a way that was physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter what.

It's time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.

The pyramid belief is flawed, an entire block of 50btc was worth less than 50 cents when it was mined. There was no proof it was going to actually be worth more and those coins were just trying to beat the energy bill vs mining reward back then just like today. Miners don't know the future, block rewards go down to slowly decrease supply instead of a dramatic cutoff to zero