Topic: Is Bitcoin is a ponzi game (Read 2148 times)
Locking that thread now. all the posted post are enough to tell that it was not a ponzi scheme.
my pet hate is ponzi being about the most miss used terms on this forum, to the OP and replies please learn what a ponzi scheme is before replying/posting.
I wish Bitcoin was Proof of Stake.
it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners
at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.
what i'm saying is that many people believe that bitcoin is a ponzi because of the centralization in mining, so making it pow/pos, can turn both side happy
One "great" PoS service can centralize the system pretty easy.
CLAM for example is super centralized at the moment due to Just-dice. It will be interesting to see how it grows ect...
I wonder if BTC was PoS if one service would have over 51%... How many Bitcoins would actually stake? Would Satoshi stake his coins?
I wish Bitcoin was Proof of Stake.
it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners
at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.
what i'm saying is that many people believe that bitcoin is a ponzi because of the centralization in mining, so making it pow/pos, can turn both side happy
I wish Bitcoin was Proof of Stake.
it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners
at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.
I claimed my CLAMS off my Bitcoin & DOGE addresses.
That's my "test" for proof of stake... now we see if someone breaks it, but till it is broke I want it
. 
I wish Bitcoin was Proof of Stake.
it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners
at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.
I wish Bitcoin was Proof of Stake.
it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners
at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy
A person that calls Bitcoin a Ponzi scheme either doesn't know anything about Bitcoin or doesn't even know what a Ponzi scheme is, or both.
Nothing in that quote applies to Bitcoin.
Bitcoin is not fraudulent. It is 100% transparent.
Bitcoin has no operator.
Bitcoin does not earn a profit and it pays no returns.
Quote
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.
Nothing in that quote applies to Bitcoin.
Bitcoin is not fraudulent. It is 100% transparent.
Bitcoin has no operator.
Bitcoin does not earn a profit and it pays no returns.
Can we just get over it already? Bitcoin is not a Ponzi scheme or any other type of HYIP (to the moon, they said!). For Bitcoin to be a Ponzi scheme certain conditions must be met and the most important one is this:
In a Ponzi Scheme, the founders persuade investors that they will profit. I want to tell Op this - Bitcoin does not make such a guarantee. Also there is no central entity or organisation nor person, just individuals building an economy. My question is: who who will win in the end? And the answer is: Everyone.
So when everyone's a winner it can't be a Ponzi.
In a Ponzi Scheme, the founders persuade investors that they will profit. I want to tell Op this - Bitcoin does not make such a guarantee. Also there is no central entity or organisation nor person, just individuals building an economy. My question is: who who will win in the end? And the answer is: Everyone.
So when everyone's a winner it can't be a Ponzi.
I wish Bitcoin was Proof of Stake.
that is nonsense, First bitcoin buyers are not receiving money from last bitcoin buyer. So Is FIAT a ponzi ?
Bitcoin is in a trading system where everyone can commerce just like in the stocks, and that does not make it be a ponzi.
Bitcoin is in a trading system where everyone can commerce just like in the stocks, and that does not make it be a ponzi.
"It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain." - so if Satoshi never used his coins (at this point his coins is worth A LOT, so he could easily sell them and become a multimillionaire) so who will benefit from it beside him? Early adopters?
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.
A Ponzi scheme is a zero sum game. In a ponzi scheme, early adopters can only profit at the expense of late adopters, and the late adopters always lose. Bitcoin can have a win-win outcome. Earlier adopters profit from the rise in value as Bitcoin becomes better understood and in turn demanded by the public at large. All adopters benefit from the usefulness of a reliable and widely-accepted decentralized peer-to-peer currency.
It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain.
A Ponzi scheme is a zero sum game. In a ponzi scheme, early adopters can only profit at the expense of late adopters, and the late adopters always lose. Bitcoin can have a win-win outcome. Earlier adopters profit from the rise in value as Bitcoin becomes better understood and in turn demanded by the public at large. All adopters benefit from the usefulness of a reliable and widely-accepted decentralized peer-to-peer currency.
It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain.
Debunk other bitcoin myths here: https://en.bitcoin.it/wiki/Myths
Just a highly manipulated commodity like silver, majority of the price movement is done by speculators. Hope this volatility will change after more and more people are using it to do real business
It is already very positive that the current user base is much larger than 2 years ago, but that is not enough to maintain a price rise of 100x from $10 to $1000
It is already very positive that the current user base is much larger than 2 years ago, but that is not enough to maintain a price rise of 100x from $10 to $1000
Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
First investors get a higher profit than those that take the risk of buying later: It's called risk-reward and it's a phenomena given in every single fucking investment ever! Jesus. Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
no.
Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
WRONG! Bitcoin is not a Ponzi scheme.
It's the new Tulipmania, Nigerian Prince, or Beanie Babies!
-snip-
Beaniecoin, I meant Bitcoin, collect them while they're still hot!
/endsarcasm
I still fail to understand the stupid ass analogy with the stupid ass teddy bears. They are comparing some useless, cute teddy bears with the monster of thought and technology advancement that Bitcoin is. Can someone explain this one to me for Jesus H Christ's sake?
Back in the 90's, Beanie Babies were the must have item to have, being bought, sold, traded at very high prices.
The beartrolls in the Speculation forum liken Bitcoin to Beanie Babies like it's a investment fad vehicle that will peak very high in a short period of time, then die off like just like Beanie Babies did.
It ll bounce back. It always do. This is just another round of profit skimming.
Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing
Yes it is. Dump your coins now.
The price is obviously going to continue to decline, so I will take your pain away btcblogger. I'll buy your coins at £130 each, before it reachs £100. I wouldn't want you to make too much loss on this 'ponzi' scheme
I'll raise his £130 and give you £135.
At the end of the day, if you want to sell, do it. Someone will buy your coin and make money.
The thing is bitcoin's name is being dragged through the mud in conventional media. If you mention btc to a lay person on the street, they would tell you "Ah yes I've heard of it...Isn't it the drug dealers funny money?"
When someone mentions bitcoin and ponzi in the same sentence on a niche forum they're basically propagating more FUD, because if a noob comes along and is slightly interested, it will make him shy away almost immediately. Also what's most likely to happen is search engines pick up both "ponzi" and "bitcoin" being repeated on page topic and whenever someone searches for bitcoin, they will be displayed context ads related to ponzi topics.
It's all relevant guys. Whenever someone mentions something FUD, we should mention that Microsoft is now accepting bitcoin payments on xbox, paypal is looking into crypto etc.
When someone mentions bitcoin and ponzi in the same sentence on a niche forum they're basically propagating more FUD, because if a noob comes along and is slightly interested, it will make him shy away almost immediately. Also what's most likely to happen is search engines pick up both "ponzi" and "bitcoin" being repeated on page topic and whenever someone searches for bitcoin, they will be displayed context ads related to ponzi topics.
It's all relevant guys. Whenever someone mentions something FUD, we should mention that Microsoft is now accepting bitcoin payments on xbox, paypal is looking into crypto etc.
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