I personally believe everyone has the right to his or her opinion on a particular matter. If they believe that bitcoin is a Ponzi scheme or a pyramid structure despite having the internet and your word to prove otherwise, then it really is not your problem
You should know that you can't get everybody on the train of digital currency which is where the world is going. They'll only see their mistake in the future when they realize they've missed out on the opportunity of being one of the early adopters
I think the only thing that can be done is to show proof of numerous benefits of bitcoin
Topic: How do I convince people that Bitcoin isn't a financial pyramid? - page 3. (Read 906 times)
March 03, 2021, 02:26:12 AM
March 03, 2021, 01:49:51 AM
Pyramids and Ponzi schemes won't last for more than a few months, because at some point the mastermind will decide to cash out and will vanish with most of the funds. Bitcoin has been in existence for more than 12 years now and there is no "mastermind" since it is completely decentralized. There was no premine and therefore even the creator of Bitcoin (Satoshi Nakamoto) never profited from his invention in any manner.
theres actually ponzis that i heard before that lasted for many years before they exit but even if they exist for short or a longer time they can still be able to return with a new brand but do the same old thing but of course btc is different to them because btc doesnt only have a single purpose and it wasnt realy meant for investment however there are so called mastermind in btc and that is satoshi and i believe that satoshi have acquired some btc in the past and he also profited from it . 
March 02, 2021, 11:19:17 PM
Pyramids and Ponzi schemes won't last for more than a few months, because at some point the mastermind will decide to cash out and will vanish with most of the funds. Bitcoin has been in existence for more than 12 years now and there is no "mastermind" since it is completely decentralized. There was no premine and therefore even the creator of Bitcoin (Satoshi Nakamoto) never profited from his invention in any manner.
March 02, 2021, 11:22:57 AM
#2 is a spot-on. Thank you for that, OP.
I'll tell that to people having doubts into it.
Many of my colleagues back then told me that Bitcoin is straightly a "scam", I was like astounded on "scam for what?".
Who benefits from it even if it is a scam? It's decentralized, bruh.
I'll tell that to people having doubts into it.
Many of my colleagues back then told me that Bitcoin is straightly a "scam", I was like astounded on "scam for what?".
Who benefits from it even if it is a scam? It's decentralized, bruh.
March 02, 2021, 10:54:00 AM
You don't. You let them formulate their own opinion and criticise from the sidelines letting time, and ultimately history, determine the outcome.
Was going to say this but then I also realized that letting them formulate their own will only create an echo chamber that will get impregnable the longer it stands. Before letting them on, give them some articles to read and other informative stuff that is related to bitcoin and its constituents, that will only work if that person is rational and open-minded to new ideas. You won't win a battle of wits against a persistent idiot. 
March 02, 2021, 09:40:39 AM
First of all, your friend that mentioned electricity companies is totally wrong lol. Electricity companies doesn’t have anything to do with Bitcoin and the mining, they are just doing their work which is to provide electricity, and of course they will get more money to due to the level of energy consumption, but saying that they are part of it because that is totally dumb and not true. What we should be talking about is the market itself, there is no single beneficiary, it’s just we.
And secondly, your point that there are no new recruitment needed makes a lot of sense in convincing them, because we don’t new recruitment and I always tell people that Bitcoin is mainly for the purpose of transaction, it’s not a must that you will invest in it. I have friends who don’t invest in bitcoin, they only make use of it when there is a need for transactions, mostly international transactions that will cost them more in banks. So, this is not a pyramid, whether you invest it not, and whether it goes up or down, people will still transact with it.
And secondly, your point that there are no new recruitment needed makes a lot of sense in convincing them, because we don’t new recruitment and I always tell people that Bitcoin is mainly for the purpose of transaction, it’s not a must that you will invest in it. I have friends who don’t invest in bitcoin, they only make use of it when there is a need for transactions, mostly international transactions that will cost them more in banks. So, this is not a pyramid, whether you invest it not, and whether it goes up or down, people will still transact with it.
March 02, 2021, 09:16:34 AM
You don't. You let them formulate their own opinion and criticise from the sidelines letting time, and ultimately history, determine the outcome.
March 02, 2021, 08:51:41 AM
Bitcoin is voluntary and not mandatory and we as a bitcoin fan and supporter, we are not forcing you to engage with it but we are encouraging you to explore it.
There are a lot of advantages of bitcoin that will help you as an individual to achieve your goals and have a positive mindset towards investments.
Convincing people to engage in bitcoin is like helping them financially to become enlightened about the existence of digital currencies or cryptocurrencies in the market that has a lot of opportunity.
There are a lot of advantages of bitcoin that will help you as an individual to achieve your goals and have a positive mindset towards investments.
Convincing people to engage in bitcoin is like helping them financially to become enlightened about the existence of digital currencies or cryptocurrencies in the market that has a lot of opportunity.
March 02, 2021, 08:23:08 AM
I don't convince people to invest and know about Bitcoin but I just tell them that they are wrong. It is either for them to believe it or not, well, it is not my problem anyway. Because I know that they will come back to me soon and ask about crypto.
People who will think negative will always be negative, they never see the bright side because they are focusing on the dark side. It is really hard to convince this kind of person and totally a waste of time. And all of the good things we do for them are also a waste of their time. We can only make a change to their mindset if they will listen to us and have their interest.
People who will think negative will always be negative, they never see the bright side because they are focusing on the dark side. It is really hard to convince this kind of person and totally a waste of time. And all of the good things we do for them are also a waste of their time. We can only make a change to their mindset if they will listen to us and have their interest.
March 02, 2021, 08:21:09 AM
It is not our obligation to make people believe if what is bitcoin or how does it work, because the more we encourage them is the more they think that we are part of the bad system they wanna believe.
Just tell them how you earn and benefits and let them decide for their own.
In the past that is what i try to do so i can help the community and the adaptation of Bitcoin but in the end, then continue questioning the integrity and reliability of bitcoin, so i stopped and let them lose their chances or else they will learn .
That's right! What we just need to is to introduce them what bitcoin is and let them have the interest and study on what bitcoin really is because the more that we are pushing them to like bitcoin is the way they will have a doubt on us so let them to be bother by their interest and want so that they will do some research about it and when they found it good then that's the time they will ask you to explain more about bitcoin. Don't do to make people believe because at the end of the day we cannot control their decisions. Just tell them how you earn and benefits and let them decide for their own.
In the past that is what i try to do so i can help the community and the adaptation of Bitcoin but in the end, then continue questioning the integrity and reliability of bitcoin, so i stopped and let them lose their chances or else they will learn .
March 02, 2021, 08:13:02 AM
People who have the thought that bitcoin is a financial pyramind are mainly those that have not had experience with the online transactions and base all their knowledge of the trade on hearing. Encourage them to do there own research and they might get to a break through themselves.
March 02, 2021, 06:17:40 AM
It is not our obligation to make people believe if what is bitcoin or how does it work, because the more we encourage them is the more they think that we are part of the bad system they wanna believe.
Just tell them how you earn and benefits and let them decide for their own.
In the past that is what i try to do so i can help the community and the adaptation of Bitcoin but in the end, then continue questioning the integrity and reliability of bitcoin, so i stopped and let them lose their chances or else they will learn .
Just tell them how you earn and benefits and let them decide for their own.
In the past that is what i try to do so i can help the community and the adaptation of Bitcoin but in the end, then continue questioning the integrity and reliability of bitcoin, so i stopped and let them lose their chances or else they will learn .
March 02, 2021, 05:30:05 AM
With more and more influential people and companies getting involved with Bitcoin there's been a lot of talks about the crypto world among regular people, to whom Bitcoin is still something new and unknown.
As you might expect, many of these people believe that Bitcoin and all other cryptocurrencies will not benefit the economy, but rather only make it worse, and many are convinced that Bitcoin is yet another pyramid. And what upsets me the most is that among these people are economists, financial advisors, they should know better, than that...
So how do I prove them wrong?
As you might expect, many of these people believe that Bitcoin and all other cryptocurrencies will not benefit the economy, but rather only make it worse, and many are convinced that Bitcoin is yet another pyramid. And what upsets me the most is that among these people are economists, financial advisors, they should know better, than that...
So how do I prove them wrong?
I'd say if you have to go that extend to convince people Bitcoin is legitimate then maybe you shouldn't even try to change their mind, believe it or not some people just don't want to trust Bitcoin or any sort of virtual currency, so you're most of the time wasting your time with them, so unless if they're one of your close friends or relatives that you care about maybe it's better to not try too hard to change their opinion.
We're not living in 19xx or something like that anymore, and if really is someone interested in something or knowing the facts about something, they can find tons of different sources which they can check out online and do the research themselves, but as I said some just don't want to be convinced that Bitcoin is legitimate.
March 02, 2021, 04:59:06 AM
Do not worry about convincing others. Just worry about yourself. And keep using Bitcoin and supporting it the way you would want people to use it. Really that is the best way you can go about it,,, just use it, keep using it, and when people see you doing that, then you need no other form of convincing:)
March 02, 2021, 03:19:42 AM
I think people are free to think whatever it is they decide to focus their energy on. Bitcoin being an alternative to regular fiat does not erase the existence of fiat (at least not immediately) as there is still financial institutions that deal with fiat rather than crypto. The idea of debating the structure of bitcoin as a pyramid scheme has no use at all. If people do not want to take advantage of the technology now, they still will in the nea future so why try to convince them. They have social media and other news media to consult in order to gather enough convincing facts.
March 02, 2021, 03:12:51 AM
I just think bitcoin isn't a ponzi scheme because this product (the digital coin) has a real usage, different from ponzi schemes' products which can be an inexistent service or investment claimed as the source of the profit to be shared with others by the scammers controlling the scheme.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
Everyting needs a large adoption for value to grow, that shouldnt be a sign for ponzi.
As for the topic title, i wouldnt even ask that question, because usually if you have to convince someone that a project is NOT a pyramid, it usually is. I dont see a point in convincing people because i dont gain anything direclty form them.
Defending something that you really understand well is not hard.
Getting your point of view, sometimes people tried to expalin things with someone who are one sided, they already believing into something and they ain't willing to change thier mindsets, unlesss you are discussing thing with someone close to you and you also wanted them to benefits as how you deal with it, giving them things to consider for the sake of learning much better.
March 02, 2021, 03:02:15 AM
I just think bitcoin isn't a ponzi scheme because this product (the digital coin) has a real usage, different from ponzi schemes' products which can be an inexistent service or investment claimed as the source of the profit to be shared with others by the scammers controlling the scheme.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
Everyting needs a large adoption for value to grow, that shouldnt be a sign for ponzi.
As for the topic title, i wouldnt even ask that question, because usually if you have to convince someone that a project is NOT a pyramid, it usually is. I dont see a point in convincing people because i dont gain anything direclty form them.
March 02, 2021, 01:51:00 AM
With its value , people thinks bitcoin is mainly a financial thing . But REALISTICALLY, it is a network security that is govern by thousand of decentralized miners. It is a pretty hard and expensive to hack a system like that.
I´m not sure if you have understood the white paper correctly. On the final page, where the odds of cracking up the blocks are given, the numbers are not for one block, but for the hacker catching up the whole blockchain.
As you can not know, what happens inside the mining pools (they just share computing power), then REALISTICALLY there is no guarantee, that your coins stay with you. And it is far from being decentralized, by now, I would say, it is extremely centralized already.
March 01, 2021, 10:27:07 AM
Usually this is what most of the misinformed people are thinking about Bitcoin as a financial pyramid. I wonder why my friend’s bank account was closed because he withdrew his Bitcoin without even aware about the bank’s rules. The reason why the bank closed his account is because whether he acquired Bitcoin in a legit or illegitimate way, they generalize Bitcoin as a scam and anyone who gets involved there will have their accounts closed and get blacklisted too. It’s because this certain bank believes that Bitcoin is a financial pyramid, not a currency.
It’s not my friend’s fault though. The bank that closed his account is kinda anti-Bitcoin. However, other banks are welcoming Bitcoin in open arms, as they rather joined the revolution than being against it.
Most of my contacts asked me about Bitcoin being a financial pyramid, and I just answer them that it’s just like stock market trading where there are no astronomical guaranteed returns, no promises of profits and the way we lose money is because of the market situation and not being exit scammed by a fraud company or so.
And they are wrong telling that way because they're more scams happens in the stock market than Bitcoin. It is really hard to think how the banks hated Bitcoin so much and if they know that you are depositing money from crypto, they'll be suspected us as a sort of money laundering and fraud.It’s not my friend’s fault though. The bank that closed his account is kinda anti-Bitcoin. However, other banks are welcoming Bitcoin in open arms, as they rather joined the revolution than being against it.
Most of my contacts asked me about Bitcoin being a financial pyramid, and I just answer them that it’s just like stock market trading where there are no astronomical guaranteed returns, no promises of profits and the way we lose money is because of the market situation and not being exit scammed by a fraud company or so.
These people don't actually listen to us, they instead pushing us to accept that we are promoting a pyramid scheme. But for now, they have proven to be wrong, and besides, we've heard already some banks traded with Bitcoin.
https://www.offshorecompany.com/banking/banks-accepting-cryptocurrency/
March 01, 2021, 09:52:51 AM
I just think bitcoin isn't a ponzi scheme because this product (the digital coin) has a real usage, different from ponzi schemes' products which can be an inexistent service or investment claimed as the source of the profit to be shared with others by the scammers controlling the scheme.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
However I can't deny bitcoin needs large adoption to work in a sustainable way and that those on the top (early adopters and whales) are the main benefited. These are similar characteristics to ponzi schemes.
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