Topic: Is Bitcoin a Ponzi scheme? (Read 1849 times)
I just don't think that you are right, I am entirely sure that you are considering it correctly. I have also encountered that scenario to several of my friends,Any time you face such argument tell the person that bitcoin is a technology, a digital currency and the most transparency, secure and fastest bank in the world.
I had arguments with my friends who are always tagging bitcoin with negativity. Today, we argued and I educated them on bitcoin and Ponzi scheme. To me Ponzi scheme is when developers takes money from new entrance to pay early birds,rinse and repeat until they raise enough and vanish. But bitcoin is not like that. Do you think I am right?
Bitcoins are far from being a ponzi scheme. It's not even backed up by its developer anymore so there's no way for bitcoins to ever be redone or recoded for another dark or scheming purposes. Bitcoins have become more of an investment rather than a token but nevertheless, it is far from being a scam.
not bitcoin is not like ponzi scheme I think bitcoin only move from existence of buyer and seller so there is no element of ponzi which make element ponzi only from irresponsible party.
There is a easy way to know that Bitcoin is not a Ponzi Scheme, look up the definition of Ponzi Scheme: A form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
One thing is to know something and another is to understand it's ways. Bitcoin is not a ponzi scheme. It is working on it own to build it's own castle not depending on anybody
Those who say Bitcoin is a Ponzi scheme, they don’t know Bitcoin, and they don’t know about Ponzi schemes....
No, Bitcoin is not a ponzi scheme. If you look at the use cases supported by bitcoin then you will see that it has certain usage and it not just speculative. People who do not know much about crypto will surely consider calling bitcoin a ponzi scheme.
It is not like that. it is tike the other scheme like share market or other big schemes.
Definitely not one of those.
You can argue that there are 90% of those that are held in 1000 or less wallets and that's how you can control the whole market.
If those are smart and really want to change somethig here they can, but you don't really know what a human being can do when he has power...
You can argue that there are 90% of those that are held in 1000 or less wallets and that's how you can control the whole market.
If those are smart and really want to change somethig here they can, but you don't really know what a human being can do when he has power...
Bitcoin is not a Ponzi scheme , for bitcoin investment you are the one who will manage your investment, while in the Ponzi scheme your investments is on pyramidic where in your profit is get from the newly enrolled members to be given to the old investors, in bitcoin your are on your own management, if you buy or sell your coins in the coin market.
Ponzi scheme - you have no control in your investment, other people hold your money and profits and ponzi scheme is scam. But in bitcoin, if you buy bitcoin the decision is yours when to sell or hold and no one will stop or control you.
Pozi is considered as a multi-level business model with many fraudulent nature, if you do business but attract more people in business you will quickly be up the rank and bitcoin unlike the pozi model.
No it's not a ponzi scheme
Blockchain technology and Ponzi are completely different things. In fact, the Ponzi model is a form of borrowing money from one person to pay for another, and the borrower will have to pay a larger sum than the loan amount. But Bitcoin does not work based on this principle
The decentralized aspect if bitcoin shows a clear image that explains why bitcoin isn't a ponzi scheme. Ponzi is only profitable to the early birds and it is not very sustainable. Bitcoin has been here since 2009 and even without an owner, it has sustained itself from then till date. No Ponzi scheme can pull that off.
There are many more reasons why they shouldnt be compared but I'll rest my case.
There are many more reasons why they shouldnt be compared but I'll rest my case.
No not at all. How can you ask this type of question.. It's a open source platform,,, if you want to develop you can develop Bitcoin.
I had arguments with my friends who are always tagging bitcoin with negativity. Today, we argued and I educated them on bitcoin and Ponzi scheme. To me Ponzi scheme is when developers takes money from new entrance to pay early birds,rinse and repeat until they raise enough and vanish. But bitcoin is not like that. Do you think I am right?
I agree first of all because bitcoin's developer/s have already disappeared and therefore there is nothing to ponzi unlike alt coins that actually have active developers capable of redoing the codes. Bitcoins are far from being a ponzi scheme because it is merely a coin no one controls.
We never want to experience a Ponzi scheme, right (especially in our bitcoin); thus, the need for an extra research and learning about what is bitcoin all about is very relevant. However, in my own view, bitcoin is not a Ponzi (I have my three views); first, it takes highly amount of investment with high risk - consideration would only matter on the value of bitcoin`s price; second, though decentralized many people know the activity of bitcoin; and third, the law of demand and supply - which definitely the running fuel of prices. So obviously, there`s a reason behind bitcoin`s prodigy.
I argue.
1) The amount of "investment" has risen only lately.
2) activity of bitcoin fabricated not organic.
3) demand and supply are purely speculative. 5% of all coins change ownership EVERY DAY!! but there is virtually nowhere You can spend Your coins. What does it tell to You?
I had arguments with my friends who are always tagging bitcoin with negativity. Today, we argued and I educated them on bitcoin and Ponzi scheme. To me Ponzi scheme is when developers takes money from new entrance to pay early birds,rinse and repeat until they raise enough and vanish. But bitcoin is not like that. Do you think I am right?
Bitcoin is currently considered a ponzi form and is intended to scam. These are the intentions of many people and I think it's not true. Satoshi has created Bitcoin with a passion and I believe he will not use it to cheat people.
Bitcoin is the new wave. I hope it does not become a ponzo scheme
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