Is cryptocurrency a ponzi? - page 2.

gloomyz

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Quote from: moonblocks on August 03, 2018, 01:50:48 AM

Quote from: olumyd on August 03, 2018, 01:00:08 AM

Still, what I don't get is why we have too many digital assets trying to solve the same problems. Yeah, I get it blockchain is immutable, but most of these projects make crypto look bad.

IMO, it simply looks like the attempt of some whales to scale up their portfolio in BTC and possibly ETH or other more credible platforms.

We see new projects almost every day; and across their community groups (especially telegram) the most audible comments are 'when exchange...', 'when Binance...' As if that's all that really matters.

I may not have the facts, but my gut says well over 50% of these assets aren't faring well. And these are people's investments.

Is there something that could be done about upcoming ICOs with nothing to show (no MVP), to reduce the risks of investing in projects that will just flop?

Comments like "when exchange...", "when Binance...", "when lambo..." etc are mostly from airdrop recipients who got something for free and don't really take the time to research the project

But you're right a lot of the projects are just different versions of the same concepts

Of course every projects needs rivals with same concepts
It is just like a proof that the concept is needed and worth it for modern people live and will be exist for long time

yla1974

sr. member

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Merit: 380

What do you give the word Ponzi? I think so the question will be put more clearly. Does the world have crypto currency, manipulation and fraud? My answer is yes. But this does not mean that the crypto-currencies and their creators are to blame for this. As light attracts night butterflies, so money beckons scammers. It is inevitable.

btcoin

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Under pozni you mean that crypto being created just for earning money? Well maybe most of shit coins are being created with this mission but I think there is true useful and worthful projects.

sinkfish

jr. member

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crypto is crypto. using crypto on ponzi doesnt mean crypto is ponzi. the important is how you use it. not what you use.

Catt95

newbie

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Quote from: allahabadi on August 03, 2018, 01:33:39 PM

Anything and everything is a Ponzi...

What matters is, till when can it sustain...

Life itself is a Ponzi...

But yeah the Blockchain tech is revolutionizing the tech industry and is here to stay...

Not all. But yes a lot of people wants to be rich and they use everthing thay can think of to take money from people. Someone starts something and if it works the next day you have 10 new things like that and copycat and then scammers come in it also, and that what happened tin crypto. Thats what we have today. But not all is scam.

Eddyc

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In my opinion, there is not cryptocurrency sense be considered ponzi in this case can we consider actions a ponzi style? I do not think so, cryptocurrency is considered to be an extremely aggressive and malleable investment. However let's not deny that there are projects related to the theme but we can not generalize and characterize the cryptocurrency market as ponzi.

bttmember

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Merit: 13

AMEPAY

Definitely not a ponzi because they are backed by real projects/companies but if you take only trading secrion then one aspect definitely resembles with your point and that is constant flow of new money and volume for constant growth in value of coins but then again this is required in all the capital markets.

DeepChipolino

member

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In a sense, any financial market is built on a ponzi scheme. In order for someone to receive 2X, it is necessary that this money entered the market from other players.
More important is the question, will crypto be a bubble in the future?

Soroskatona

jr. member

Activity: 168

Merit: 1

Nope, it is not. However, the hype might create an effect similar to ponzis, that more and more people buy into the coin, then suddenly everyone tries to reap the profits, and the prices go falling. But that is how trading goes.
Ponzi schemes have a bad intent from the start. Crypto is usually just trading. So it is not a ponzi.

auliahr

full member

Activity: 518

Merit: 100

ponzi is a bad thing and I really hate it, there are a lot of ico scams, fail and also have the same concept or idea but cannot solve the problem or do not match their goals and roadmap. it's sad, because there is a lot of money that revolves around ico and also the best hopes from investors. but everything is gone and slowly they become useless shitcoin. I was confused, why did ico still keep selling and a lot of interested people?

smoolae

full member

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Nope, definitely not a ponzi, but indeed we have a lot of scammers and all those people dealing with cryptos who wanna get rich quick. Sadly, people like those mentioned were widely common when the total marketcap of cryptos was rising fast to 800bil. And thanks to that, people might often see crypto=ponzi.

Jacklowo

copper member

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Quote from: dinoloverpete on September 13, 2018, 09:39:35 AM

All of the ponzi scheme accusations that are leveled at cryptocurrencies could also be leveled at many other things such as stocks or precious metals. They only continue to increase in value as more new money enters the market. Crypto is not a ponzi scheme and neither are they because of the fact they don't promise a return.

I think crypto currencies are not ponzi,
crypto currencies are a future where assets will become digital

Mkpez

newbie

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Crypto is not ponzi, it's a well known digital currency. We have Fiat currencies "i.e paper money" commodity money "crude oil, gold or share" and digital currencies "crypto"

gilangIDR

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Quote from: dinoloverpete on September 13, 2018, 09:39:35 AM

All of the ponzi scheme accusations that are leveled at cryptocurrencies could also be leveled at many other things such as stocks or precious metals. They only continue to increase in value as more new money enters the market. Crypto is not a ponzi scheme and neither are they because of the fact they don't promise a return.

The fact shows that cryptocurrency is not a ponzi scheme. For anyone who says that cryptocurrency is ponzi, I just want to laugh. They have not seen how cryptocurrency evolved at this time, there are many changes that lead to positive things and even now many people have acknowledged that cryptocurrency is a form of digitizing the financial system in the world and this will be applied to the global financial system in the future. Cryptocurrency is a form of technological progress and this will form a system that is mutually sustainable and also requires each other.

dinoloverpete

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All of the ponzi scheme accusations that are leveled at cryptocurrencies could also be leveled at many other things such as stocks or precious metals. They only continue to increase in value as more new money enters the market. Crypto is not a ponzi scheme and neither are they because of the fact they don't promise a return.

trumper

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It is not a problem, few projects can work on same thing basically they are not same, but today the reason we see lots of projects working on same thing is that they just want to raise eth and get rich.

jeniferqueen0409

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Cryptocurrency is like investing in stocks, it is a real investment. It requires us to analyze and evaluate the market. Ponzi? It is simply a scam.

cryptoskycap

newbie

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Crypto is not a ponzi scheme that will provide high profits from their own money or money provided by new investors. This crypto investment is like you invest dollars, you can get the price difference from selling and buying.

olumyd

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Quote from: vixcious on August 04, 2018, 01:26:13 AM

I think so. Because we invest in altcoin but no monthly income and we do not receive any reports from the company's board. So we can assume that the altcoins are ponzi models.

I agree with you, most companies do not give a financial statement of how they run the business with the investor's funds. In some cases, they claim that they were not issuing shares but token offers; which according to them their disclaimer notices permits excludes them from severe legal actions. But who will ever simply throw money away into a project if they didn't consider it as an investment in the first place?

vixcious

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I think so. Because we invest in altcoin but no monthly income and we do not receive any reports from the company's board. So we can assume that the altcoins are ponzi models.

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