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 think your reasoning is also quite standard, because: PonziThis is a loan model from this person's money to pay interest to others. That is, the borrower will make promises with extremely attractive interest rates, accompanied by live figures that have been very successful in this Ponzi model. Its origins start with businesses lawful business. But then because the business was not conducive to it, it turned into a Ponzi model and used fraudulent behavior.To pay extremely high interest rates to borrowers requires an increasing cash flow, meaning that the number of new investors will increase as well. 
Topic: Is Bitcoin a Ponzi scheme? - page 12. (Read 1849 times)
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 not a ponzi scheme because the price of bitcoin is on the demand and on the supply. Yes new users contribute on the demand but the miners provide the supply that the user can use immediately. In a ponzi scheme, you gain in random times with random amount. But if you buy bitcoin, you can use it however you want in any bitcoin-accepting industry or person.
It's not a ponzi scheme , As per my understanding bitcoins recognized by supply and demand. In volatile market prices goes up and comes down.This could happen in any other investments like share’s, property, gold etc..etc.
Bitcoin is a digital currency that can be used to buy and sell with a value while ponzi scheme is a form of fraud that made people to believe in an unexisting enterprise by paying quick returns to first investors from money invested by late investors, Teaching people that do not believe in technological developement is alot of work, you must be patient with them.
At first, I was confused by the title of this thread. But when I look at the thread, I think the OP's had a point. Well, first and foremost, bitcoin is not a scam. The people who use bitcoin to make Ponzi Scheme are the really scammers. Bitcoin is a currency and it is natural in bitcoin to become volatile because many people trades bitcoin.
Better to look at it better and try to have different research, for you to know the bitcoin deeply.
So the price is formed purely because of the difference in demand and supply which gradually keep changing. when prices soared up, many considered it a ponzi scheme. Yet it is the result of the rise of demand. Better to look at it better and try to have different research, for you to know the bitcoin deeply.
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?
Ponzi scheme is something that you put your money and have some interest. But bitcoin is the other way around. You have to buy, invest and manage your investment. When it increases, you gain, and when it decreases you lose but that depends on how you trade or handle your bitcoin.
Yes, you are right, Ponzi Scheme purpose is to grab money from new beginners, make as much as they can after that, they will close up and run away. but Bitcoin has the purpose of bringing financial freedom to everybody to benefit from it.. Bitcoin have last longer than the Ponzi scheme. If it were to be a Ponzi scheme it could have run away earlier before now.
At first, I was confused by the title of this thread. But when I look at the thread, I think the OP's had a point. Well, first and foremost, bitcoin is not a scam. The people who use bitcoin to make Ponzi Scheme are the really scammers. Bitcoin is a currency and it is natural in bitcoin to become volatile because many people trades bitcoin.
Better to look at it better and try to have different research, for you to know the bitcoin deeply.
Better to look at it better and try to have different research, for you to know the bitcoin deeply.
People fail to get valid information about stuffs before making their judgement,due to the fact that they at one point in time participated in one ponzi scheme program and it was nothing to write home about.I think they need to be well informed and get involved.
bitcoin is not a Ponzi scheme. I think your friend does not know anything about bitcoin. maybe he just read the news about the ponzi business that many people do business with others who pay bitcoin. or he received word of lie about bitcoin from a source that he believed.
but actually bitcoin is not like that. Bitcoin Made with blockchain technology. nobody makes it manually by hand or in a simple way. after the bitcoin exists, people can get it by buying ata by doing a strategy that can produce bitcoin. so will not increase bitcoin, When someone just keep silent.
but actually bitcoin is not like that. Bitcoin Made with blockchain technology. nobody makes it manually by hand or in a simple way. after the bitcoin exists, people can get it by buying ata by doing a strategy that can produce bitcoin. so will not increase bitcoin, When someone just keep silent.
Poor orientation simply because they dont have to refer people to earn and they system is way different from what they use to know.I think they need good seminar so they can truly know what bitcoin is all about.
We will not deny the fact that at the moment there are a lot of crypto-currency pyramid schemes and Ponzi schemes, but this does not mean that all crypto-currency projects are such. We will not resist that this market was, is and will be inclined to this kind of schemes. But this does not lead to a logical conclusion that bitcoin is a Ponzi scheme.
Maybe some people do not understand about Bitcoin, so they think that Bitcoin is a ponzi scheme, if you explain some factors about Bitcoin, I'm sure they will understand and realize how Bitcoin works to make it easier for everyone to transact online in the future.
the ponzi scheme is not a bitcoin but the system
many sites use bitcoin in ponzi and bitcoin schemes for payment
except in market sites buying and selling bitcoin there is no ponzi scheme because we are selling and buying
many sites use bitcoin in ponzi and bitcoin schemes for payment
except in market sites buying and selling bitcoin there is no ponzi scheme because we are selling and buying
A lot of people are skeptical about Bitcoin, more often than not they recognized Bitcoin from the news being a ponzi scheme, a scam, or just a false quick to riches money scheme. You cannot blame them because that is what the media is feeding them, this is the black propaganda against Bitcoin, they want it to look bad, so people will stay away from it. That is their strategy to destruct Bitcoin since it is a threat to banks, big corporations and governments.
Ponzi schemes are no where near Bitcoin. they are just two different things. Bitcoin is a secure and safe digital currency integrated on the Block chain Technology. People still consider Bitcoin as a novice technology and that make it hard for them to trust its security.
Many people I know tag it ponzi though I don't blame them. We all know that ponzi uses new people's money to pay off the Old ones and this cycle continues until the system collapse. Bitcoin is simply like the stock market, and market price rise and falls based on market demands. Which is quite simple. Maybe the volatile nature of it is what some can't wrap their arms round it.
Bitcoin can never be a ponzi scheme, its a currency and decentralized peer to peer cash system, not run by some organization andthe value determined by supply and demand.
Bitcoin is never a ponzy scheme in any way, bitcoin is legit
of course not bitcoin is a digital currency that only belongs to itself no ponzi element, if you say ponzi seems you are affected by some mining and some investment projects or doubling the bitcoin that most today use ponzi scheme.
Of course you are right.
The Ponzi scheme is an investment scheme that pays investor profits from payments to other investors. not from business profits. It's like a money game where investors do not really invest their funds in real binsis. of course it goes against the nature of bitcoin. Bitcoin is transparent. bitcoin is a digital asset that can be redeemed in common currency such as USD, Euro, etc. Just as Gold can be exchanged for money as well. All bitcoin transactions can be tracked through blockchain. Bitcoin is a Digital Asset, not a ponzi scheme and not a fraud.
At first, let me clarify that Bitcoin itself is not a scam, but how Bitcoin is sold is a scam. More about that below.
To get started, it's important to understand what Bitcoin really is. It will be easy to get bored with discussions about technology, about peer-to-peer servers and sophisticated algorithms. However, retail investors who accumulate into crypto currency, especially those that have absolutely no real purpose or product of work, make the whole market a bubble-like phenomenon, where users will then take the heaviest losses.
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