Topic: Is Cryptocurrency One Big Ponzi Scheme? - page 6. (Read 18123 times)
if bitcoin is indeed a ponzi scheme, I think the price of bitcoin will continue to fall and people will leave it. but for the current price even though it is down but there is also an increase because bitcoin is in great demand by many people so that there are those who continue to buy it.
Many project ponzy always use bitcoin as their platform and make all of investor are interested for investing at Ponzi project, we have stop and give knowledge to many people for stopping make investment at Ponzi project and use bitcoin as their platform name, we have know bitcoin never joined with ponzi and scheme project, always doing right when you make investment at bitcoin or altcoin how ever your situation always checked before you make investing.
Yes many projects that are related to cryptocurrency are scam and could be compared to a Ponzi scheme but not all crypto are scam. THere are few crypto also that are also now operating like in the exchanges, mining industry and other concrete projects where the money of the investors was being utilized and able to earn profit on it. The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme? Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking. If you don't agree with me on this, please share your thoughts... 
Technically Bitcoin is not a ponzi scheme any more than gold is a ponzi scheme. Participants are buying and selling Bitcoin in a free market, by agreeing on the price. That's how all transactions are made in all markets. Yes, many people have called Bitcoin a ponzi scheme. But this either is because they don't know what Bitcoin is, or they're implying that people are putting their money in to something that has no real value. But what defines the real value of something? Value is subjective.
Those other cryptocurrencies are about people who didn't buy Bitcoin when it was cheap and are trying to find a very cheap one now that will greatly appreciate.
I don't think cryptocurrency is a ponzi scheme. I just think cryptocurrency is a financial investment product. For example, I can buy low and sell high on ZB to make a profit.
Many project ponzy always use bitcoin as their platform and make all of investor are interested for investing at Ponzi project, we have stop and give knowledge to many people for stopping make investment at Ponzi project and use bitcoin as their platform name, we have know bitcoin never joined with ponzi and scheme project, always doing right when you make investment at bitcoin or altcoin how ever your situation always checked before you make investing.
Yes many projects that are related to cryptocurrency are scam and could be compared to a Ponzi scheme but not all crypto are scam. THere are few crypto also that are also now operating like in the exchanges, mining industry and other concrete projects where the money of the investors was being utilized and able to earn profit on it.
this has been discussed many times and the answer is still no . NO crypto is not a ponzi . people only consider it because they see that the price of cryptos are too damn high and they think it will collapse in an instant after they invest thru it and they were actually right . the price did collapse after an increase but not because cryptos are really a ponzi . the collapse happened because people also sell for profit and its normal for this kind of market . the digital aspect and the anonimity feature is also the reason on why people think cryptos are ponzi's .
Not all cryptocurrency has a Ponzi scheme. like cryptocurrency or altcoin trading on an exchange that only relies on buy support and sells support. all prices, charts, and volumes are clearly visible. Otherwise, if crypto is promised to rise to a price of several dollars, it is like all prices have been arranged by one party and I advise never buy coins that have a Ponzi scheme that is why the crypto image is bad due to the Ponzi scheme applied to cryptocurrency. Basically, prices rise up according to the amount of supply and demand.
I do not think cryptocurrency can be considered a ponzi scheme. The ponzi scheme is based on a certain centralization, while the crypto market is totally decentralized. If coin prices are very fluctuating during this period, it does not mean it has anything to do with the ponzi scheme. Simply, investors are expecting a higher decline in currency prices.
Some of them say that bitcoin is only profitable for old users, but we reject it. I as a new user also benefited and it's true what you say, Bitcoin is decentralitation, that system is far different from the ponzi scheme
The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme? Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking. If you don't agree with me on this, please share your thoughts...
I never think about that, and everyone maybe have same opinion too. We know what you called thousands of cryptocurrencies created it is because each dev have their reason behind their project. But we can't generalize it as crypto is one big ponzi scheme. 
The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme? Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking. If you don't agree with me on this, please share your thoughts...
Cryptocurrency being volatile doesn't mean that it is a one giant ponzi scheme already. We all know that cryptocurrency has been used by only a few people in the world not like the current monetary system we are using right now which is fiat that is not that volatile compare to crypto. Yeah we all know that it is easy to create an altcoin at this times. Some or should I say most of them are either a scam coin or a project which is not developed because of some reasons like lack of funds.
do you think just because BTC so volatile and you can say bitcoin is another one ponzi scheme..? . there are times when you have to get through the storm so that later you get used to it . if you are investor you must believe what you invest , but if you trader you just need to make a analysis like Fundamental, Technikal also sentiment analysis
I don't think how the cryptocurrency works is close to a one big ponzi scheme. Both works differently and you earn money in a different way. And cryptocurrency is a proven source of money. While ponzi schemes are manage by huge scammers.
Dude you just have to read the definition of a Ponzi scheme to understand that cryptocurrencies cannot be a Ponzi scheme. It is that simple. Did crypto get your invested money to give to older investors? No! So how can it be Ponzi? It is a market.
Many project ponzy always use bitcoin as their platform and make all of investor are interested for investing at Ponzi project, we have stop and give knowledge to many people for stopping make investment at Ponzi project and use bitcoin as their platform name, we have know bitcoin never joined with ponzi and scheme project, always doing right when you make investment at bitcoin or altcoin how ever your situation always checked before you make investing.
Bitcoin is not like any known fraudulent scheme, including Ponzi. Especially since bitcoin has existed for a long time, it gives it more reliability. So I don't think we should refer it to scams.
The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme?
That was only a what if but it's not. Yes! Crypto or btc to be more specific can be used in Ponzi schemes but it doesn't mean that the creation of it was intended for those matter or any fraudulent activity in the first place. Of course it was for the good of us, however there are just people who use it for satisfying their greed which is very sad to know. Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking.
I see your point. Some of ICOs are legit, some are scam; some have a nice platform, some are just for the sake of pumping and dumping. It's now up to you on how will you look to those coins and whether you will trust them or not.
Ponzi has a slightly different definition.
Pyramid scheme is what you're referring to.
And crypto is not necessarily a pyramid scheme, the "store of value" narrative is pyramid scheme 101 - and people who still use it are advertising a pyramid for their own enrichment.
But as long as you work towards enhancing the utility of crypto (and there's lots of potential) its price will be based on actual quantifiable metrics - and not speculation. When we reach this stage, the "pyramid" label will be officially denied.
Pyramid scheme is what you're referring to.
And crypto is not necessarily a pyramid scheme, the "store of value" narrative is pyramid scheme 101 - and people who still use it are advertising a pyramid for their own enrichment.
But as long as you work towards enhancing the utility of crypto (and there's lots of potential) its price will be based on actual quantifiable metrics - and not speculation. When we reach this stage, the "pyramid" label will be officially denied.
There are couple of things the OP doesn't take into account. First of all, blockchain and cryptocurrencies are different. Blockchain is the technology while cryptocurrencies are products build on top of blockchain technology.
Blockchain is a great decentralized system that uses many computers resources and there is no central decision making. I believe this technology has bright future ahead of it.
There's a reason cryptocurrencies aren't widely adopted. Currently around 6-7M people in the whole world use crypto currencies to purchase goods or services. That's too little market adoption so price can be stable. Therefor, currencies value fluctuates every single day which makes them quite risky. Transaction time is also very slow. Bitcoin can process around 5-6 transactions per second, Etherium - around 20 and Visa - 1700. Imagine the whole world start using bitcoin tomorrow. Everything will collapse in a day.
Blockchain is a great decentralized system that uses many computers resources and there is no central decision making. I believe this technology has bright future ahead of it.
There's a reason cryptocurrencies aren't widely adopted. Currently around 6-7M people in the whole world use crypto currencies to purchase goods or services. That's too little market adoption so price can be stable. Therefor, currencies value fluctuates every single day which makes them quite risky. Transaction time is also very slow. Bitcoin can process around 5-6 transactions per second, Etherium - around 20 and Visa - 1700. Imagine the whole world start using bitcoin tomorrow. Everything will collapse in a day.
Everyone is entitled to what he or she believes i mean people just make up somethings without proper investigations and proper research its not a pozi scheme its a technology the world is about to adapt to
Yeah that's what outsiders believe, they will strongly believe in the government's paid media, that bitcoin is just a scam and ponzi investment, that is detrimental to you and many fools people who believe it
It's not a Ponzi scheme. Although it's extremely risky to invest in a wrong coin. The truth is that some coins have real value face. They are able to solve some problem encountered in the traditional banking system. Bitcoin has perform well in the area of payment system alongside Ethereum and Ripple, which the banking system would have made one pay huge fee and may experience some delays or even fail across borders. Let not forget that the market is still very young and developing.
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