Topic: Is Bitcoin a Ponzi scheme? - page 4. (Read 1849 times)
The Ponzi scheme has obvious features of demolishing the East Wall and compensating for the funds of the Western Wall. Bitcoin is a game between different investors.
just don't think that you are right, I am entirely sure that you are considering it correctly. 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.
You can present this two things which is bitcoin and ponzi scheme in a venn diagram because they have both similarities and also differences.
Their similarities are they are both supported by user, you can earn, or you can loss on the other hans the diffrences are the ponzi have a fiat currency that supports the scheme, while bitcoin is digital only.
Both parties can agreed that if they have more or continous user it will earn more, but if you lose users, you'll lose the values too
Their similarities are they are both supported by user, you can earn, or you can loss on the other hans the diffrences are the ponzi have a fiat currency that supports the scheme, while bitcoin is digital only.
Both parties can agreed that if they have more or continous user it will earn more, but if you lose users, you'll lose the values too
i cant find what is the reason for bitcoin to be called a ponzi scheme.
All money paid out to early investors came from late coming investors. There is no generation of money from the system. No sales. No revenue. Nothing. Only money from late investors being moved to early investors. 100% Ponzi. The very definition of a Ponzi.
Are you insane? Your statement is only true if there is no real product but there is and that is bitcoin. The money is just not revolving around investors because it also used on markets and accepted by businesses.
It's been almost 10 years, and if you still think the BTC is a ponzi scheme, then I really don't recommend that you continue to invest in the BTC.
i cant find what is the reason for bitcoin to be called a ponzi scheme.
All money paid out to early investors came from late coming investors. There is no generation of money from the system. No sales. No revenue. Nothing. Only money from late investors being moved to early investors. 100% Ponzi. The very definition of a Ponzi.
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 and cryptocurrencies have undoubtedly become popular nowadays. Some big personalities and icons in the business world and entertainment industry have been involved in crypto either supporter or endorser of some ICOs, but due to the proliferation of scam ICOs, SEC implemented regulations to protect their citizens.
Mainstream media picked it up and as a viewer like your friend grasped it negatively towards the entire cryptocurrency as a Ponzi scheme. You can't change the opinion of your friend right away, it takes time or it might not happen at all. Get rich in crypto so your friend may realize he is wrong about crypto.
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 real project with the aim to help us transact conveniently and with that argument, you can already prove it is not a mere ponzi scheme. Maybe people see it as a ponzi scheme because it goes up and down drastically but it is not. That is the true nature of the market and not a quality of a ponzi.
Absolutely NO.
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?
No, Bitcoin is not a Ponzi scheme and is not a scam just like what others think. Ponzi scheme is an investment fraud which is somehow similar to Pyramid scheme that promises a large amount of profit to their investors. Ponzi scheme collects returns for older investors by recruiting new investors and they are using those investment money from new investors to pay older investors. That's how a Ponzi scheme run their business, which is very much different to Bitcoin, because bitcoin doesn't scam people.
i cant find what is the reason for bitcoin to be called a ponzi scheme.
Bitcoin so far has existing through the years. Therefore, it is not a ponzi scheme.
ponzi scheme never exist for a long time.
Bitcoin so far has existing through the years. Therefore, it is not a ponzi scheme.
ponzi scheme never exist for a long time.
Dont ever think bitcoin is ponzi because its very slightly different to ponzi. I think people who said bitcoin is ponzi need to learn more about bitcoin and generally cryptocurrency. I hope this statement not push people to have opinion about bitcoin is ponzi because it can make cryptocurreny down.
This statement is very typical thinking error. The idea of cryptocurrency and blockchaining is not relevant, when discussing, if bitcoin is a scheme. Think about mining these "coins". Everybody can mine, but only lucky ones will get awarded. Does it sound like decent monetary system in its core? Its a scam. Maybe wasnt planned as one, but when the dream grew too big, people started to make use of it.
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?
Dont ever think bitcoin is ponzi because its very slightly different to ponzi. I think people who said bitcoin is ponzi need to learn more about bitcoin and generally cryptocurrency. I hope this statement not push people to have opinion about bitcoin is ponzi because it can make cryptocurreny down. 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?
Yes, You are correct, it is not a ponzi scheme. It´s different monetary scheme, yet not defined.
Things for You to consider:
1) Why is number of possible bitcoins limited with 21 millions?
2) Why are people rewarded with bitcoins in return of investing computing power? And even more importantly: why all people, who invest, dont get coins then?
3) Who wins the most if bitcoin is bubbled?
You can not tell, that bitcoin is ponzi or pyramid, although it has some elements from both. I would say, bitcoin is a fantasy, that has grown way too big and people now want to make use of it. Coin owners want bitcoin to grow again and believers think, there is a way to get rich by digging coins.
But guess what. There is one universal monetary rule, and if more people were aware of it, they could save a lot of money in long run. The rule is:
There is NO easy, risk free, good money, that is available for everyone.
If money is easy, good and risk free, it is called a heritage. But thats not available for everyone.
If money is good and available for everyone, its is called an entrepreneurship. But thats not generally easy, nor risk free.
If money is risk free and available for everyone, it is called a salary. But that money is not generally very good.
Do not invest in schemes, unless You are very very certain, they are in their initial growth phase.
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?
If you don't have any idea of what is bitcoin and how it works it is really fishy and sounds like a ponzi scheme. Bit if you take the time to try and see what it is then you will surely see that it is real. Those people who believe that bitcoin is a big scam eother have been misinformed by bad rumors or media whobare against it.
For those who don't understand the blockchain and the bitcoins, they all think it's a ponzi scheme.so I guess this is a matter of knowledge and understanding.
Well for me, up until now, bitcoin gives me a result like no other ponzi scheme. We can make an example for this situation. Imagine if you are in a 3rd world country, and there was a chance you buy us dollars in early year of your life, maybe about 90s, and now the price is doubled, and you got the profit while other people who wants to join you can not get a lot of profit now. Is us dollar a ponzi scheme?
Bitcoin is not a Ponzi scheme. Bitcoin is different because it was simply put there for people to use and it was almost free for people to take and use, like that well surrounded by a fence that allows only one person at a time in. You can wait in line or you can pay a guy in front of you to let you in so you can get some, but the water is always there and it's always free. Bitcoin is rising in value because people want to use it and to use it they have to buy it from someone who had it before them. It's nothing like the Ponzi scheme because there's nobody in control, nobody taking all the profits and nobody able to shut the system down. It will keep going until the value stabilizes and you won't be able to sell your coins for more than you paid for them.
They just don't understand how bitcoin works or they are just plain stupid who want to make scene. They though cause bitcoin won't take any interest and no people who lead and the price is so unstable its easy to think its a scam unless you do some research and making it as a ponzhi scheme is so hilarious as people can take it or take out the money anytime and we don't pay someone in interest.
Bitcoin is far from being a ponzi scheme. Ponzi scheme (which appears in different disguise these days) is a scheme that uses the money of new "investors" to pay older "investors"). I used "investors" because the scheme usually do not invest in anything. The new investors are their investment. After a while, especially when there are no new investors, the platform owners absconds with the people's funds. Bitcoin is far from this scenario. Bitcoin is decentralized. Nobody holds your funds as long as you have your private keys and password. You can withdraw your money at anytime. Those who bought Bitcoin in 2009 still have their funds in their wallet unless they have withdrawn it. If it were a Ponzi scheme, the scheme would have vanished long time ago. Certainly, Bitcoin is not and cannot be a Ponzi scheme.
Very good explanation. The increase and decrease in prices are entirely due to the amount of demand and supply. There is no manipulation where profits are taken by the old investor. Jump to: