Is Bitcoin a Ponzi scheme? - page 19.

rog1121

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Quote from: CryptoMoonDevil on January 22, 2018, 03:13:49 AM

Quote from: vkwame30 on January 20, 2018, 04:42:15 PM

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's price is a derivative of its social value. BTC is NOT hinged to anything except this value alone. That's why the algorithm to solve for mining is a frivolously complicated puzzle. The creator (Satoshi Nakamoto) could've had the computers solve for ANYTHING, but realized if he tied it to something of value, it would forever be tied to that "something"
Hence the social value only.

Yeah BITCOIN is like bartering goods and not fully a fiat currency, as long as people value it, it will have value

Anna567

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I do not think Bitcoins are Ponzi schemes, Ponzi schemes are corrupted, Bitcoin is sold through formal means, and the bitcoin market is a viable one.

Kenassi

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Ponzi scheme means referral system and receiving fixed income per time. Bitcoin has none of this attributes, you are receiving profit because of growing demand

q835197677

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Quote from: tlkchain on January 26, 2018, 02:18:15 AM

Quote from: tuskacz on January 20, 2018, 05:03:27 PM

Yes it is ponzi scheme but shhhhhhhh, don't shout it as no one will believe you like dotcoms bubble and bitconnect brash. Grin

Let bitcoiners pump it and live in their own dreams Grin

There are many mistakes for the country, many people think Bitcoin is a Ponzi scheme or MLM, in fact, is not the case. First of all, if you want to know bitcoin, you have to understand how it works, and it takes a long time to know specifically.

Ponzi scam, haha, I would not believe Bitcoins are Ponzi scams. Because each country's leaders are not fools, they desperately want to suppress bitcoin and altcoin, but they are also trying to master the blockchain technology, this is not the best proof of it? If bitcoin is a Ponzi scheme, it's okay to forbid it directly, so it does not have to be so tedious.

DarLim11

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For me bitcoin is like a ponzi scheme but in a different way. All of us can be the mastermind and all of us can also be a victim. Depending on how you manage or try to earn in bitcoin dictates who will you be in the two.

If you are trading that would be the case but because there are different ways to earn in bitcoin you can still escape from that path. Just take some jobs that pays some bitcoin and you will earn without being in the risk of losing something.

orion_tera

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Ponzi scheme has nothing to do with what Bitcoin is. Bitcoin is just a hyper volatile commodity, which is 100% freemarket driven, thus making it susceptible to specualation.

Icaxx

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Quote from: thebanker28 on January 20, 2018, 04:55:38 PM

There are a couple of things I would do in this situation, firstly, I would remind your friend that a "Ponzi Scheme" was actually carried out with fiat currency, not crypto currency.

I dont agree with you with this. Ponzi scheme its not always carried with fiat.
Oke i understand that all about fiat because no other currency can be used as ponzi.
But remember, crypto currency can be used as a background of legit company but in the back it can be ponzi.
For example onecoin.

Quote from: thebanker28 on January 20, 2018, 04:55:38 PM

Secondly - some people are just ignorant, if they are not going to get it, its OK. the same people probably have those pulse dial telephones at home and cant figure out why nobody calls them anymore. There are plenty of open minded people in the world, sometimes you have to let a few of the naysayers go.

I agree with this. Why people who dont want to do something and they prefer to talk something bad about that?
If we dont to do it then just dont. Dont need to talk something bad.

TheGodFather

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Quote from: vkwame30 on January 20, 2018, 04:42:15 PM

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 that bitcoin is not a po zi scheme, however there are people who are taking advantage of bitcoin’s popularity and adding some superlative sugar coated words to attract more people and put bitcoin investment in the sirface but actually a scam propagated by many people to create a po zi scheme and to make people invest but actually invest on nothing and in air.

ApocalypseNow

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Bitconnect is the ponzi scheme and not bitcoin. They might have watched bitconnect scam videos and they mistakenly think of it the same as bitcoin. Bitcoin is not a ponzi because it does not promise any high profits but a transaction that has proofs and cannot be altered.

P3

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Quote from: ivanst776 on January 22, 2018, 03:08:59 AM

Quote from: vkwame30 on January 20, 2018, 04:42:15 PM

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 a currency that no company or government that are controlling, there's no bank on it too. this coin is an independent currency that differs to FIAT, BITCOIN might have a price that like some bubbles but those bubbles are steal made and you don't need to worry about as it depends on peoples demand all around the world. PONZI scheme might be connected to bitcoin but bitcoin don't is now a Ponzi, people jump into some company who promised that they will earn double your money in just a short time without doing anything. bitcoin is just a currency that they are using. THAT'S IT!

Well the biggest miners do have a large amount of control over BITCOIN and cryptocurrency due to the sheer mining power

bicoin110

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to answer this question we must know about the basic point of creation of BTC, we did not know exactly Why satooshi bulid BTC ok so we can not answer that BTC is ponzi exactly. but i feel it is ponzi but we can take profit altought it is been so

DoublerHunter

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Bitcoin is not a ponzi scheme because bitcoin is a cryptocurrencies and just like the other kind of market, bitcoin is relying on the law of demand and supply which the price of bitcoin is depending and i think that it is too far to compare to ponzi scheme because ponzi scheme is simply pyramiding which bitcoin doesn't any have of trace like that.

mwsind

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many people are talking negatively about bitcoin many bitcoin holders know that bitcoin is not a scheme or Ponzi scheme

kumar jabodah

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No! So it's called Ponzi Scheme because it uses the bad guys. Like the money we used to gamble, At Bitcoins it is also. Hopefully people's false beliefs will be removed to make people feel good about it.

wnfmzm74

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Quote from: ?? on ??

Quote from: vkwame30 on January 20, 2018, 04:42:15 PM

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?

Lol ponzi?? really??. Dont trust your friend, he is one of many bitcoin haters. Use your wits,you know bitcoin not like that. Just wasting time talking about bitcoin with such a person like that. Tell your friend "if you dont like bitcoin, say what ever you want i dont care, lets see who will succes in the future"

Bitcoins were once accused of "Ponzi schemes" because Bitcoin exchange rates are constantly rising, while early bitcoin users are easier to mine. After prolonged discussions, the allegation is generally not recognized now.
And bitcoin's core developers have repeatedly and unequivocally emphasized that bitcoin is just an "experimental" project that repeatedly prompts the risks of investing in bitcoin.

adekpulpen

newbie

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yes you are right, bitcoin is not a ponzi scheme, it is a fluctuation
according to my observations, so far, altcoin has gone up four times, and down four times
different from bitcoin, because bitcoin has a limited amount, bitcoin moves unlike altcoin, if bitcoin rises, it will last for a long time

incomefromcoins

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indian govt said Ponzi scheme so every one started saying bitcoin is again a ponzi scheme if u think it is ponzi dont buy just see

antchains

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Bitcoin system itself is similar to the bank accounting system, is a payment transaction system, not a scam, not a Ponzi scam. Of course, there may also be criminals holding the pretext of bitcoin to do MLM, that is Ponzi scam. But the current bitcoin market is a weakly regulated (or even unsupervised) market for similar underground markets. Risky, and the single bitcoin, the majority of speculation, the practical application too little. This is the status quo. If you invest bitcoin loss, it is equivalent to a loss of stock futures is a truth, and can not be cheated. Individuals are more optimistic about the underlying technology Bitcoin, blockchain. More and more attention is now focused on the blockchain.

IamAltcoinfan

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homt.net

Quote from: Lemer on January 22, 2018, 03:31:05 AM

For those who don't understand the blockchain and the bitcoins, they all think it's a ponzi scheme.
There is no need to argue with them, because time will tell them the right answer: they are all wrong, and perhaps in the future they will buy back bitcoin and cryptocurrency.

Yes people who already arguing with me about bitcoin it’s big bubble after November growth upto 20000$ they really worried and again came back to me was asking about bitcoin investment. In that moment I have given one big smile at their face .

casdder

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Ponzi scheme is typical of dismantling the wall to make up for Western Wall with new funds to ensure the interests of the elderly to expand investment fraud fraud. Obviously Bitcoin is not. Bitcoin is a subject (you can understand it as a currency). Bitcoin is more like a bond, a contract. The bit-to-bit trade is basically what you buy with a currency and you buy it. Although this thing has no real effect on you ... but this does not meet the definition of Ponzi scheme.

Topic: Is Bitcoin a Ponzi scheme? - page 19. (Read 1849 times)