Is Bitcoin a Ponzi scheme? - page 20.

usechain

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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?

The capital flows of bitcoin trading markets are similar to the stock market, where new investors buy investments (bitcoin or stocks) from unspecified old investors and neither new or old investors make any profit.
The definition of "Ponzi scheme" is that the later "investor" money is returned to the "investor" in front of the investors as a reward for capital attraction. In the Bitcoin / stock market, the elderly have no advantage over the new couple. Rely on their own ability to judge the rise and fall and profit; and Ponzi scam than the newcomers have a mandatory advantage, the elderly forced to obtain funds from the couple. So bitcoin is not a Ponzi scheme.

Maxson

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Bitcoin is far as compared to ponzi scheme.BTC is a digital currency that portraits value with an exchange with a request made, ofcourse dues are deducted from transaction after that you receive what you ask for, like a big market where buy and sell what you want.

renggileh

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Not all, indeed there are some projects that apply ponzi scheme theory
Therefore, before joining, we must first study this project
and see how the participants anticipate
and more importantly, you have to see who the manager is
If he has a bad reputation, I suggest that you do not keep on joining

tlkchain

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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.

legenduim

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No, not at all, it is very far from being some ponzi scheme! Follow Bitcoin history, learn about this first (and the best) cryptocurrency and you will understand that this is a revolutionary new stuff, the chance to earn a lot, the way to get rid of taxes and forget about corruption!

xugzr272186

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Quote from: imapessimist on January 20, 2018, 04:45:50 PM

I can see why some people think it is a Ponzi scheme. Because it doesn't pay interest like shares. It can only rise if people pay money in. And nobody can take more money out than they put in unless it's other people's money. So everybody's profit in someone else's loss. Or else it wouldn't work. Not everyone can profit. Although some people think everybody can profit. Well they can't.

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.

SaiWAFU

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Quote from: 777asianinvasian on January 20, 2018, 05:11:14 PM

If you imagine Bitcoin is a ponzi scheme then anything that rises legitimately is also a ponzi scheme because people who invested early in anything gain a lot. That isn't what a ponzi is that is what you call good investing. Bitcoin is 10000% not a ponzi scheme this you can be certain of.

I agree. Bitcoin was ridiculed that it will only crash down. According to some economist back then, bitcoin will not serve it's purpose as cryptocurrency.

Bitcoin was an invented way ahead of it's time that's why it got several negative feedbacks back then.
Now that most of the apps and programs wants to offer convinience with transactions with their users(Online games, Online store, etcetera) they now embraced this type of innovation.

Vaculin

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Winding down.

Quote from: ASHLIUSZ on January 22, 2018, 04:07:31 AM

People who have the right understanding about bitcoin never terms it as a ponzi scheme. Due to the increasing popularity some ponzi schemes were promoted in the name of bitcoin. I never have a thinking that bitcoin to be a ponzi, it is an innovation that has been making a large scale change around the world.

Ponzi scheme operator are using the popularity of bitcoin to attract people to invest in their product.
Because of that, those who want instant money and does not really understand bitcoin will be easily attracted and in the end they will end up
blaming bitcoin for their negligence.

tonyvo2017

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Lifestyle & Wellness Platform

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 you were right. I do not know what bitcoin will do with the system itself to generate the source of the profit but I am sure the bitcoin is not ponzi.
I do not have much experience with this, but I'm sure Bitcoin will not do that. I think bitcoin is in charge of an entire electronic money market and bitcoin will tax the altcoins shown on the altcoins chart. I'm not sure my opinion is right or wrong. Please give me a suggestion.

ASHLIUSZ

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People who have the right understanding about bitcoin never terms it as a ponzi scheme. Due to the increasing popularity some ponzi schemes were promoted in the name of bitcoin. I never have a thinking that bitcoin to be a ponzi, it is an innovation that has been making a large scale change around the world.

joetudi_qcshs

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Bitcoin is definitely not a ponzi scheme! Come on! But I know that there are countries with people who exploit or take advantage of the bitcoin hype to make it as a front in creating a business scam by taking investments from other people. I've seen a video where syndicates create a system where money is circulated and makes it look like a fully operational and working bitcoin investment.

Sachinist

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No, but retail investors piling into cryptocurrencies, especially those with absolutely no purpose or actual working product, makes the whole market a ponzi-like bubble phenomenon whereby later adopters will take heaviest losses.

johnlhy251

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At the outset, let me clarify that Bitcoin itself is not a scam, but how Bitcoin is being sold is a scam. More about that below.

To start out, it is important to understand what Bitcoin really is. It would be easy to bore you with a discussion of the technology, about peer-to-peer servers and sophisticated algorithms, but that is not what you need to know.

qwerty12

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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?

Of course you are right

The Ponzi scheme is an investment scheme that pays investor profits from other investors' payments. not from the profit of a business. It's just like a money game where the financiers 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 traced through blockchain.

Bitcoin is a Digital Asset, not a ponzi scheme and not a fraud.

Sir Cross

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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.

Probably because there are numerous ponzi schemes out there that is associated to bitcoin. Those who don't know enough about bitcoin and did not directly buy bitcoin have fallen victim of ponzi schemes. Also, the "promise of great returns" from bitcoin has made others think that it is a ponzi scheme. Their lack of understanding and knowledge about bitcoin has led them to believe so. Obviously so, it's not a ponzi. It may be associated to a ponzi scheme but bitcoin in itself is not a ponzi scheme.

First77

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Quote from: Renal on January 22, 2018, 03:27:47 AM

I think the Ponzi Scheme usually persuades new investors by offering higher profits than other investments in the short term with a very high rate of return.

The continuity of such high returns requires an ever-increasing flow of money from new investors to keep this scheme going

PIN THIS PIN THIS

TonyBR

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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?

You are 100% right. Bitcoin is not a ponzi scheme and those who say that have no idea of it.

Desscount

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ComboLabs

knowledge is very important to assess on crypto. I am not surprised and feel restless if many news that says, that bitcoin is a ponzi scheme. This debate has been very long, and some countries say the same thing. but in fact, bitcoin is becoming more popular and involves many new investors. so I guess this is a matter of knowledge and understanding.

Lemer

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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.

Renal

member

Activity: 434

Merit: 10

I think the Ponzi Scheme usually persuades new investors by offering higher profits than other investments in the short term with a very high rate of return.

The continuity of such high returns requires an ever-increasing flow of money from new investors to keep this scheme going

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