Topic: Is Bitcoin is a ponzi game - page 2. (Read 2132 times)
No, Bitcoin is not a ponzi . To be a ponzi it needs someone to control it, and that's not possible since bitcoin is decentralised and nobody controls it. The price is still unstable and falls but it's not because bitcoin is a ponzi. The bitcoin price will stabilise and find a floor once it's mass adopted, right now is the best time to invest in bitcoin since the price is really low at the moment.
this forum is full of threads like this. if you really think it's a ponzi then sell your coins quickly. then you don't have to worry anymore.
what make it a ponzi? the early adopter? they just got lucky, their coins were worthless at that time, i'm sure many of you would have sold those early coin at $10 at best
because of mega farms controlling the network? it is how bitcoin is supposed to be, nothing wrong here, you can still mine altcoin and dump for bitcoin, it's the same in the end
because rich guys are manipulating the market? rich guy can buy everything and manipulate other assets too, it's not bitcoin fault
because of mega farms controlling the network? it is how bitcoin is supposed to be, nothing wrong here, you can still mine altcoin and dump for bitcoin, it's the same in the end
because rich guys are manipulating the market? rich guy can buy everything and manipulate other assets too, it's not bitcoin fault
This thread for all who thought that Bitcoin is a waste material/currency.
Why don't you check all the bitcoin features and source code to obtain the answer?
Revise it and you're going to see how it's made.
(This is the open-source advantage)
Revise it and you're going to see how it's made.
(This is the open-source advantage)
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
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!
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?
i would love to know on what your analysis is based on to get this price?
$ 1 million seems a lot to be exact. i think its about 100k daily maybe. but $1m is way too much
$ 1 million seems a lot to be exact. i think its about 100k daily maybe. but $1m is way too much
Let us calc together
How much energy do *all* miners spend daily if the current Bitcoin hashrate is 351,347,317 GH/s ( https://bitcoinwisdom.com/bitcoin/difficulty )
and the current hardware runs ~1kW for 1TH/s
OK. here are my calculations.
So, we can think that there are 351,347 asics each 1TH/s
Each ASIC takes 24kWh daily
So, Bitcoin network eats 8,432,328 kWh each day
How much energy costs in different countries? $0.12 per kwH - can we agree with it?
$1011879 - total daily spending only for mining
This value covers only electric costs
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
Yes.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
And this is very ineffective ponzi, because everyday all bitcoin community throws $1mln of electric power to the window as a heat of asics
i would love to know on what your analysis is based on to get this price?
$ 1 million seems a lot to be exact. i think its about 100k daily maybe. but $1m is way too much
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
Yes.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
And this is very ineffective ponzi, because everyday all bitcoin community throws $1mln of electric power to the window as a heat of asics
The reason that people keep saying bitcoin is a ponzi scheme is because the early adopters are going to make the MOST money just like in a ponzi scheme. But that doesn't mean it is a ponzi scheme.
Let's say that I bought Berkshire Hathaway when Warren Buffet completed his takeover. I think each share was trading around $20. If I had held that stock from the 1960s to today, I would have gone from around $20/share to $213K per share. Does that make it a ponzi scheme? No, it just means I was an early adopter.
It works the same for investors in bitcoin. Every day I wish that I had learned about bitcoin in 2010 and 2011. I could have acquired hundreds if not thousands of bitcoin for pennies on the dollar. So yes, later investors could then buy those bitcoin off me and I would profit, but that doesn't mean that it's a ponzi. Just means it's an investment.
Let's say that I bought Berkshire Hathaway when Warren Buffet completed his takeover. I think each share was trading around $20. If I had held that stock from the 1960s to today, I would have gone from around $20/share to $213K per share. Does that make it a ponzi scheme? No, it just means I was an early adopter.
It works the same for investors in bitcoin. Every day I wish that I had learned about bitcoin in 2010 and 2011. I could have acquired hundreds if not thousands of bitcoin for pennies on the dollar. So yes, later investors could then buy those bitcoin off me and I would profit, but that doesn't mean that it's a ponzi. Just means it's an investment.
I think Bitcoin similar stock, you must have the knowledge and took the information quickly to decide exactly.And to me, Bitcoin is profit: D
It's not a ponzi scheme, take our word for it and don't bother doing any research yourself, because doing research is always a bad idea.
Not even similar. Actually it's called free market, and the current situation is called correction (after a big bubble).
Only overzealous noobs think that btc has only one way up up up to da moon.
Only overzealous noobs think that btc has only one way up up up to da moon
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no..,.its not a ponzi game...because it is getting accepting everywhere and it really pays a good amount if u give a little hard work on it.now days u can see bitcoin on most of the places
With the price going lower and lower I was waiting for a thread like this to pop up. It took a while, but finally it's here 
Today Bitcoin is a ponzi, tomorrow it's dead, and the day after that it's wonderful, and another day after that it's pure shit again.
Today Bitcoin is a ponzi, tomorrow it's dead, and the day after that it's wonderful, and another day after that it's pure shit again.
be dead i dont think so, but the price will drop yet again and then will rise. YET AGAIN.. its a game as long as you can take part of the game.
It doesn't fit the definition of a ponzi hence is not one.
It doesn't pay new investors using old investors funds or guarantee a profit either of which are required to be actually classified as a ponzi.
It doesn't pay new investors using old investors funds or guarantee a profit either of which are required to be actually classified as a ponzi.
With the price going lower and lower I was waiting for a thread like this to pop up. It took a while, but finally it's here
Today Bitcoin is a ponzi, tomorrow it's dead, and the day after that it's wonderful, and another day after that it's pure shit again.
Today Bitcoin is a ponzi, tomorrow it's dead, and the day after that it's wonderful, and another day after that it's pure shit again.
no bitcoin itself is not a ponzi scheme, but there are ponzi games based on bitcoins. like any other currency.
the thing is since it is highly volatile the reason of price decline is quite obvious. big wallet owners are selling bitcoins as fast as they can, then they will just buy buy buy rising the price again. and when this is done, its only the big wallet owners who will benefit largely from bitcoins. they will again sell when they see the price enough for them to make 5-10 millions $ at one go. they will just sell again for 500btc at a time. like i have seen on some wallets going on.
if you had 20,000 bitcoins in your wallet, this is actually what you would have done you would think about the profits first. its the same as $ eur or ukpounds. same story with different currency
the thing is since it is highly volatile the reason of price decline is quite obvious. big wallet owners are selling bitcoins as fast as they can, then they will just buy buy buy rising the price again. and when this is done, its only the big wallet owners who will benefit largely from bitcoins. they will again sell when they see the price enough for them to make 5-10 millions $ at one go. they will just sell again for 500btc at a time. like i have seen on some wallets going on.
if you had 20,000 bitcoins in your wallet, this is actually what you would have done you would think about the profits first. its the same as $ eur or ukpounds. same story with different currency
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