Topic: I think Bitcoin is the biggest bubble and ponzi in the universe or it isn't? (Read 888 times)
April 22, 2021, 10:43:17 AM
And there goes another person who calls bitcoin names. Ahhh.... Takes me back to those times when self proclaimed financial advisors along with all those self entitled people whose names are quite famous were also calling bitcoin along with everything in this industry as scams and ponzis. And ohhhh how they felt so good and proud when bitcoin really dropped in price. But just recently, these monkeys ate their words and even invested in the very thing(s) that they called as a ponzi or scam. These type of stuff is kind of getting boring the more I see it.
April 22, 2021, 09:23:24 AM
why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
Its, because Bitcoin have elevated so many people out of poverty in some countries.in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
April 21, 2021, 06:59:27 PM
I got to know Bitcoin around 2016, and the Bitcoin Ponzi accusations were very high at the time. Maybe indeed many scammers used Bitcoin
to carry out a Ponzi scheme at that time, finally many newbies who become victims of fraud mention the Bitcoin Ponzi, that's what makes a lot of
people misunderstand Bitcoin until now. So, it really needs to be educated a lot that Bitcoin is very different from Ponzi. But over time,
the accusation against Bitcoin is that the Ponzi has eased a bit these days, because there are many Bitcoin communities that educate through
articles and videos explaining why Bitcoin is not a Ponzi.
to carry out a Ponzi scheme at that time, finally many newbies who become victims of fraud mention the Bitcoin Ponzi, that's what makes a lot of
people misunderstand Bitcoin until now. So, it really needs to be educated a lot that Bitcoin is very different from Ponzi. But over time,
the accusation against Bitcoin is that the Ponzi has eased a bit these days, because there are many Bitcoin communities that educate through
articles and videos explaining why Bitcoin is not a Ponzi.
April 21, 2021, 06:46:12 PM
Using vague analogy to exhibit correlation between the two, something that we've already seen ever since 2015. Ponzi schemes require active referral and participation from the bottom members to keep the system alive, bitcoin doesn't have to. And don't even get me talking about the miners who prolly haven't even spent a cent to invest in bitcoin, but are still earning big gains. Is bitcoin a bubble? As much as people would like bitcoin to pop out of existence, they are yet to succeed, even after 11 years. is bitcoin a Ponzi? certainly not.
April 21, 2021, 03:58:12 PM
One day or other even Warren Buffet also will become a bitcoiner. Yes, I am having lots of confident on the potential of bitcoin to attract all the haters including those wall Street whales as well.
He may invest and I am not ready to call all investors as bitcoiners. You need to be a long term holder and you must build your future out of bitcoins to be called as bitcoiners. Even it is just my opinion, I believe most people will accepting my view. Warren Buffet was once bitcoin hater hence even we change his mind, I am not expecting that he will invest with long term plans; he may invest and book profits just before the ATH; I am sure. 
April 21, 2021, 10:28:08 AM
I like the way how bitcoin has proving people wrong who had ever thought being ponzi from start and now the countries are adopting and getting clearance for the institutions to participate and buy it. This is because they have realizing now the worth of it and it is not a bubble. But its fine everyone has their perspective and since their is nothing physical which some of them would like to have as to get its value they think it is ponzi.
Yes bitcoin has proven its potential and how it is different from any other ponzi scheme. Still, we cannot do anything about what haters keep on blubbering. Moreover I am just seeing such people who are honestly consistently promoting bitcoin into the rest of the people even they are talking in negative way. When they are talking negative way but bitcoin keeps proving them wrong then that will again working in favor of bitcoin to be adopted more intensively.One day or other even Warren Buffet also will become a bitcoiner. Yes, I am having lots of confident on the potential of bitcoin to attract all the haters including those wall Street whales as well.
April 21, 2021, 05:00:46 AM
Bitcoin is definitely not a ponzi scheme. Ponzi always crash. Bitcoin is based on pure supply and demand created by humankind. It is possible to say bitcoin is a bubble. As a bubble, bitcoin will go up and down but it will never ever disappear from this world. The DotCom bubble is a good example. Many companies do change but many of them have receovered after more than 10 years
I do agree that bitcoin isn't a Ponzi and I don't get how people are seeing the Ponzi angle in bitcoin when there is none and from what I can tell with what OP is saying, those that were early got more, yes it may look like Ponzi but that is also how stock market works, the first stock owners will get more money because the company grows, that's the same with bitcoin.I like the way how bitcoin has proving people wrong who had ever thought being ponzi from start and now the countries are adopting and getting clearance for the institutions to participate and buy it. This is because they have realizing now the worth of it and it is not a bubble. But its fine everyone has their perspective and since their is nothing physical which some of them would like to have as to get its value they think it is ponzi.
April 21, 2021, 03:13:40 AM
Bitcoin is definitely not a ponzi scheme. Ponzi always crash. Bitcoin is based on pure supply and demand created by humankind. It is possible to say bitcoin is a bubble. As a bubble, bitcoin will go up and down but it will never ever disappear from this world. The DotCom bubble is a good example. Many companies do change but many of them have receovered after more than 10 years
I do agree that bitcoin isn't a Ponzi and I don't get how people are seeing the Ponzi angle in bitcoin when there is none and from what I can tell with what OP is saying, those that were early got more, yes it may look like Ponzi but that is also how stock market works, the first stock owners will get more money because the company grows, that's the same with bitcoin. April 21, 2021, 02:40:39 AM
Bitcoin is definitely not a ponzi scheme. Ponzi always crash. Bitcoin is based on pure supply and demand created by humankind. It is possible to say bitcoin is a bubble. As a bubble, bitcoin will go up and down but it will never ever disappear from this world. The DotCom bubble is a good example. Many companies do change but many of them have receovered after more than 10 years
I have multiple reasons to believe that Bitcoin is not a bubble or Ponzi, and I am saying this out of my one decade of experience with cryptocurrency. My points are as follows:
1. The inventor of Bitcoin (Satoshi Nakamoto) never benefited from his invention. There was no premine, and Satoshi never sold any of the coins that he mined. So if the promoter is not benefitting from it, how can we classify Bitcoin as a Ponzi?
2. In order to qualify as a bubble, Bitcoin should be something that can be destroyed. But theoretically it is impossible to destroy the coins that are mined.
3. Bitcoin is 100% decentralized and it is impossible for someone to control BTC.
4. The algorithm or the original code can't be changed in future, not even by the inventor.
5. Every single transaction is stored in Blockchain, so it is impossible for someone to stay anonymous after using Bitcoin for fraud.
April 20, 2021, 06:50:10 PM
I can't say that this bitcoin is the largest ponzi nor the largest bubble in the world or in the universe rather. If this was really a bubble or ponzi then it must be collapsed already and it will not be able to last for almost 11 years. Am I right? Bitcoin is not a bubble in which I am pretty sure that after 10 years, bitcoin will be still there and nothing changes, maybe there will be some ups and downs in terms of it's value but bitcoin will be bitcoin and nothing will change. Bitcoin is not a bubble that will just disappear because if it's so then maybe bitcoin is not here anymore.
Bitcoin is definitely not a ponzi scheme. Ponzi always crash. Bitcoin is based on pure supply and demand created by humankind. It is possible to say bitcoin is a bubble. As a bubble, bitcoin will go up and down but it will never ever disappear from this world. The DotCom bubble is a good example. Many companies do change but many of them have receovered after more than 10 years April 20, 2021, 03:13:07 PM
is it a ponzi or is it a buuble?
Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
That's right, and for those who are interested in a detailed research here's a good article on why Bitcoin is not a Ponzi scheme. Probably one of the best proofs is the following(citing from the article): "Ponzi scheme promoters sometimes try to prevent participants from cashing out by offering even higher returns for staying put." Bitcoin holders can cashout whenever they want without someone preventing them from doing so, and not because they are allowed to, but because there's no one to ask permission, in the first place. There are also other characteristics of Bitcoin that no Ponzi scheme possesses, but this one is very convincing, imo.Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
You do make a profit but it is not guaranteed, it is just a valuable thing that gets more valuable over time and that's it. Bitcoin is the same as that, it is a good thing that people do not really understand bitcoin just yet, it allows us to buy bitcoin at cheaper levels until everyone gets it.
April 20, 2021, 09:27:52 AM
why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
Ponzi? Remember that bitcoin already exist more than ten years and a ponzi scheme will not stay alive even for one year. A lot of scammers using a ponzi scheme but bitcoin is not a scam investment.
Bubble? Of course not! Just look at the demand that cause it to sky rocket and until now the demand keep on increasing and the value of bitcoin is still high. $1 to $60k if you have bitcoin from the beginning that it was created, then you can say that they have such a too much return in investment. But, I think most of the people just buy from 2019, because those what they have from year 2010 is already sold during the 2018ATH. So, people invested again.
April 20, 2021, 06:58:01 AM
is it a ponzi or is it a buuble?
Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
That's right, and for those who are interested in a detailed research here's a good article on why Bitcoin is not a Ponzi scheme. Probably one of the best proofs is the following(citing from the article): "Ponzi scheme promoters sometimes try to prevent participants from cashing out by offering even higher returns for staying put." Bitcoin holders can cashout whenever they want without someone preventing them from doing so, and not because they are allowed to, but because there's no one to ask permission, in the first place. There are also other characteristics of Bitcoin that no Ponzi scheme possesses, but this one is very convincing, imo.
April 17, 2021, 06:32:15 PM
Bitcoin is legit and it is very profitable when you invest in bitcoin,not only in bitcoin you can also invest it in alternative coin. Big company like paypal and other project support bitcoin and surely bitcoin will be future of digital currencies.
April 17, 2021, 11:34:19 AM
With your argument, even calling stocks as ponzi schemes are just as true. As to why is very easy to understand and doesn't need explaining. Of course, if you lack knowledge about this coin or not in the techy side you wouldn't care much about bitcoin except for it's price, volume and the big names who are drawn to it. An easy thing to understand is that people love new things and love to jump on to the newest trends every time especially when there are a lot to gain. So as long as there is desire to be on the trend along with the now obvious desire of profits and some extent of privacy, bitcoin will not pop. Not unless all the governments and banks in the world unite to destroy bitcoin along with all the other altcoins to get rid of this tyoe of industry. Which I honestly think is very unlikely to happen. I think you get my point. Good day op.
April 17, 2021, 11:17:28 AM
is it a ponzi or is it a buuble?
Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
Make up your mind. For example bubble was the marihuana stocks. Ponzi is when there is no inherit value or utilty in the asset and it keeps growinf till it goes to zero when everyone founds out.
BTC could be in a bubble, but it is not a ponzi.
that not all bubbles are ponzi and not all ponzi are bubbles. Bitcoin holders are never harmed by a drop in price if they keep it for a long time. Meanwhile, what is called a ponzi is a fraud under the guise of an investment business that seems profitable.
April 17, 2021, 10:57:22 AM
why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
This kind of post was already created even before Bitcoin reach the $10,000. People have always labeled Bitcoin as something that would be gone within a month but all those doubters have been proven wrong and Bitcoin is still a good thing that people can have this days. The possibility of Bitcoin growth is still there specially when it is being adopted into the physical world nowadays. More and more projects have been appearing and they want to integrate the usage of Cryptocurrencies in their transactions.
April 17, 2021, 09:20:10 AM
why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
for now it is, will see how willl stand in few years from now, new currencies are growing. in early days of bitcoin people just mine it for fun........
why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?
even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment
what do you think?
may be it is just my silly thought....
please comment. thank you.
April 17, 2021, 12:04:40 AM
Have you seen a ponzi scheme that has last this long and remain sustainable?
Bitcoin is a revolutionary and very useful tech/currency. If you remove the deflationary feature it will still be revolutionary and very useful.
Bernie Madoff did a Ponzi scheme that lasted for decades so I would say that yes, I have seen/heard or learned of a Ponzi scheme that lasted as long as Bitcoin is right now. I wouldn't really say that bitcoin is a Ponzi per se but the early adopters are at the top of the pyramid and I do see some resemblance but I don't think that bitcoin is a Ponzi because it wouldn't grow this big if it isn't unsustainable as @Ucy said. Bitcoin is a revolutionary and very useful tech/currency. If you remove the deflationary feature it will still be revolutionary and very useful.
April 16, 2021, 07:13:26 PM
I can't say that this bitcoin is the largest ponzi nor the largest bubble in the world or in the universe rather. If this was really a bubble or ponzi then it must be collapsed already and it will not be able to last for almost 11 years. Am I right? Bitcoin is not a bubble in which I am pretty sure that after 10 years, bitcoin will be still there and nothing changes, maybe there will be some ups and downs in terms of it's value but bitcoin will be bitcoin and nothing will change. Bitcoin is not a bubble that will just disappear because if it's so then maybe bitcoin is not here anymore.
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