People call bitcoin a fraud or ponzi scheme - page 22.

AlexAtom

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

That kind of peoples called haters. Haters always hate and they talk without knowing what is they talking about.
I usually don't want to wasting my time for them. If they think bitcoin is a ponzi, just tell them to leave bitcoin and never involve on it again.
Later they will see me with my wealth because my profit that i gained from cryptocurrency.

pat4cryptoreal

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If anyone says bitcoin is ponzi it means the person do not know how ponzi scheme operates. Ponzi scheme is simply a process of stealing from peter to pay paul. Some that have the intension of scamming people will steal from peter and steal still from paul with empty promises to both of them. Bitcoin cannot be compare to ponzi scheme in any way.

buy_crypt_sell

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Everyone thinks as he is more profitable. But personally I think people who think that bitcoin is a ponzi scheme is absolutely not literate in cryptography. If you want to know a little bit about how this technology works, then you will realize that bitcoin is not a ponzi.

James Fleming

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No bitcoin is not scam and other ponzi schem.

Some people is waste mouth publicity.they are no aware new technology and no understand for new technology. Crypto assect is new anvision for assect level .This no ponzi scheme.this anvision is prove we are no need for other midearte.

Sydney Chapman

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The answer is no. Bitcoin is a real cryptocurrency that proves blockchain works. People are using it to buy real things. The IRS wants to collect real taxes on the profits people are making.
The huge price increase makes people wonder if it is speculative bubble, but a bubble is not a scam.
Cryptocurrencies may be hard to understand, but that does not make them a scam.

EffahTom

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They just do not know what they say.

RakknRoll

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Actually you cannot blame them, even though the bitcoins is really legit company;
there are lots of people in this world used the company of bitcoin in fraud schemes or activities just to earned dirty money.

FrueGreads

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Well I gess OP is pushing it to much on the example given, because we can't really call Apple a ponzy scheme because they do offer a top quality product, and people are not trying to get profit from the product. They pay that much for the product in order to use it, because they think they are worth that price.

I do think you are right when you ask what is the real price for bitcoin, and yes, we can't call it a ponzy scheme as well, because people should be able to put a value to bitcoin, and decide if they are worth that much or not. The problem right now, is that we can't really use bitcoin, and that's why we have so much speculation on these markets. We are paying based on a hope right now, and I guess that's why some people call it a ponzy.

yoseph

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Quote from: UniQue7 on July 11, 2018, 04:39:28 PM

I mean it does use Ponzi Scheme tactics in a sense a lot of websites use it in this manner but I think it's just like that because of the scammers.

In itself Bitcoins is not actually a Ponzi scheme, it falls under the same criteria as gold and therefore cannot be labeled as a scam. Others take advantage of naivety of certain bitcoin users and scam them by promising high returns on their investments.

sandisunny

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BTC is not a ponzi scheme neither is it a fraud, though people tend to use it to carryout fraudulent activities but it is far from being a ponzi scheme. If it was a ponzi scheme then it would have crashed a long time a ago since most ponzi scheme are being controlled by some group of persons, but btc is decentralized there by allowing every individuals to take responsibility for all their transactions. Now that to me is what makes btc outstanding.

tambok

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Quote from: UniQue7 on July 11, 2018, 04:39:28 PM

I mean it does use Ponzi Scheme tactics in a sense a lot of websites use it in this manner but I think it's just like that because of the scammers.

Well still a lot of people and countries don't like or were not yet in favor of bitcoin or any cryptocurrency, but let us not worry about it for sure that people will finally see the goodness of everything and will eventually see bitcoin as an opportunity and a big help in the economy.

UniQue7

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I mean it does use Ponzi Scheme tactics in a sense a lot of websites use it in this manner but I think it's just like that because of the scammers.

Aying

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Quote from: jpnl0002 on July 11, 2018, 01:53:46 PM

I feel everyone is entitled to his or her opinion if they feel its a ponzi scheme fine and let others do the ponzi scheme and make their money most persons do not have enough concrete on information they just make their own judgement.

We all felt and said those things for sure, that bitcoin was a ponzi scheme so there is no difference, we just need to let them and understand what bitcoin really is since they don't know what they are still talking about so let's help them not hate.

Abrefatotherescue

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People fail to do their research. Also their ineptitude is their own doing. I'd rather I focus on cryptocurrency whiles they focus on their own thing. If it's ponzi,its my problem

jpnl0002

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I feel everyone is entitled to his or her opinion if they feel its a ponzi scheme fine and let others do the ponzi scheme and make their money most persons do not have enough concrete on information they just make their own judgement.

Dmitry.Vastov

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

There are many people who doesn’t consider bitcoin to be very much trust worthy and feel bitcoin is a fraud or a Ponzi world like a chit fund who will run after collecting people money and moreover the governments and media are also not in favour of bitcoin and thus there fore keeps on demotivating people from not investing into bitcoin like Warren Buffett said that bitcoin is a bubble and will burst soon but I believe that bitcoin is very sustainable crypto currency and it will lasts for many decades:

karagun125

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For some instances yes it may be fraud because of some phising sites that tell you go to the website and earn btc in just a moment.

Okrah

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Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

This kind of people doesn't really know what is the reality of bitcoin, how does bitcoin help people. they always thought that bitcoin is a ponzi scheme. They have no idea and knowledges about the importants of bitcoin that's why they always say negative information about bitcoin.

chenczane

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Some people thought bitcoin is a kind of networking scheme. In my country, most people don't believe in any networking schemes or like pyramiding so that's why, they thought bitcoin is also like this scheme. Many people are scammed in networking. I am explaining to them that bitcoin is not a scam, the people who use it for scam are the culprits.

tambok

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Quote from: gabbie2010 on July 09, 2018, 03:55:58 PM

Quote from: keycellko on July 05, 2018, 06:29:20 PM

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

Honestly its been a difficult task correcting the impression of some people on classifying bitcoin as a ponzi scheme, it is absolutely ridiculous to call btc a fraud when there is glaring proof of mode of its transactions with Google as a friend and with all the valuable information as regards btc well detailed there, I will continue to enlighten as many people that needs more clarifications in this regards.

We cannot blame them, I myself saw bitcoin that way too, until such time when my friend told me that there is no harm in trying since I am not required to pay for any cash just to register so I just try just to prove it to myself too until I found this amazing and interesting.

Topic: People call bitcoin a fraud or ponzi scheme - page 22. (Read 4485 times)