Topic: PETER SCHIFF IS RIGHT... All Ponzi Schemes eventually FAIL even BlockChain Ponzi (Read 223 times)

It is clear from your post that you don't know what a Ponzi scheme is. You, as well as many others, are under the mistaken belief that a pyramid scheme, or a pump-and-dump, or even any scam is called a Ponzi scheme. Tulip bubbles, chain letters, and crypto bubbles are not Ponzi schemes.

In a Ponzi scheme, an operator pretends to invest a victim's money but does not.

Typically,  in order to convince the victim that their money is really invested, the operator will return some money and claim that it is a return on the investment. However, that step is not required. In some Ponzi schemes, the operator may credit the victim's account or not allow withdrawals for an extended period of time.

So, Bitcoin cannot be a Ponzi. There is no operator. There is no investment. There is no return on investment. Recently, the term "natural ponzi" was invented to describe Bitcoin. The inventor of the term wanted to claim that Bitcoin is a Ponzi scheme but couldn't, so they invented a new term.

OTOH, Bitcoin can conceivably be described as a pyramid scheme. Many people buy bitcoins in the hope that they can convince others to buy bitcoins from them at a higher price. There is nothing wrong with that -- it is basically just speculation. But, when they claim that Bitcoin has no utility other than a "store-of-value", they are essentially promoting Bitcoin as a pyramid scheme.

People have said the same about Ripple, for over 6-7 years now, they said Ripple will replace the SWFIT banking system - but guess what, it's trading at $0.30 and never even went back to the peak of $3.00 around 2017-2018, not even $2.

The "projected to appreciate" is a speculation - the governor of Bank of England said those who hold Bitcoin would lose lots of money - so far he was right and he gave this warning many months ago.

Every time when the stock market or housing market goes down, people analyze the interest rate, the Fed balance sheet, the unemployment rate, the projected GDP growth, the emotions of the investors, etc, etc.

Every time when BTC goes down, people claim that BTC is a Ponzi.

It is very typical for a Bitcoin CULT BELIEVER to listen to WHO is saying something.   I do not know Peter Schiff, or Michael Saylor, or anyone else.  I have no personal bias for or against any of them.   I analyze the facts and make my choices based on who gives the best, most accurate analysis.

I know this concept is very foreign to you...  You and many others here will be dealt a very hard financial lesson for only listening to who and what you " like "....

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You are living in the greatest era of MONEY PRINTING and speculation in world history.   Every time things started to go down, the Federal Reserve reacted with massive monetary stimulus which saved the stock market and many other insolvent companies... ( MARCH 2020 was just one of those times )....

Just because BitCoin recovered with massive help from the Federal Reserve does NOT mean it will not collapse.   GameStop stock has had several legs up and down, but it will eventually go to zero also.   What makes you ASSUME that a Ponzi can never have ups and downs   Did you just make that up 

Nothing goes up or down in a straight line.  You are doing some serious mental gymnastics and  to ignore reality here....



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It is obvious that you have NEVER LISTENED to what Peter Schiff says.   Peter Schiff has been warning about the stock market bubble for a very long time.  He talks about the stock market more than crypto....

So you disagree with Peter Schiff without ever having heard what he says.  Very typical for someone with delusions of getting rich and would never listen to anything that would interfere with your Dreams.   I would never listen to you for financial advice   

Every time Bitcoin goes through a bear market it is always the same: people who do not even know what Bitcoin truly is start calling it a "ponzi scheme" or "scam", in spite Bitcoin itself is not a system that guarantee anyone high returns, unlike actual scams.

I'd like to ask those how call Bitcoin a Ponzi Scheme: Are not Ponzis supposed to collapse once and then it is all over? How many times has Bitcoin "collapsed"? I have personally never seen a Ponzi that collapses twice, three times and go on...  

if Peter Schiff tells you to jump off a cliff, will you? when you bought bitcoin were you buying it because Peter Schiff told you to buy it or were you buying it because you did research and believed the price could go up? any investment has risks, and in any investment we need to take precautionary measures in case of a drop, and stop thinking that bitcoin is collapsing, price drop (even if it is a big price drop) is something normal in case of a crash. bitcoin or did you think that the price of bitcoin would just keep going up infinitely? if it went up a lot, it can also go down a lot

Ok, thanks for your information.

The longest ponzi scheme in the world was founded by an American, Bernard Lawrence and it lasted for about 17years.

Let's be hopeful that Satoshi will beat that record with bitcoin to atleast 100yrs.

If there are people willing to shell out money on your worthless peace, then it will fetch a million dollars  .

No one is forcing anyone to hold anything, if you think it will benefit you in the long run you have the option to invest in it according to your bank balance and be smart about your investment rather than going full in lending other people's money and investing in any financial asset. Only risk what you can afford to loose.

VERY DISHONEST...   No one said people should buy Fiat....

TYPICAL TATIC of someone that has no valid argument, but is desperate to win:    Invent a dumb statement, and then attack your self invented dumb statement as if someone else had made it.   That shows UTTER WEAKNESS on your part.

You are not discussing objectively. I don't know what you even mean by every chance.
If you want to troll Bitcoin at least come up with reasonable arguments against it other than, "Bitcoin is a Ponzi scheme which is goin to zero".

How about you come back when Bitcoin actually goes to zero?

BitCoin was given EVERY CHANCE in the world to succeed, even I was willing to give it a chance....  It failed.    

You can get very rich by investing early in a Ponzi Scheme      That does not change the fact that a Ponzi Scheme will always go to zero.

welcome back! it's been a while since you spammed this board with your "HardFacts" about how bitcoin is a Ponzi scheme, bitcoin will fail and peter schiff is right.

anyway, it's funny how FUDster always comes out of their cave to cry "we are right", "bitcoin will fail", and "bitcoin will crash" only when bitcoin's price is going down.

Is really terrible how crypto enthusiasts and some so-called investors only clamour for Bull market, at such they also fail to understand or prepared their minds for Bear market. Bitcoin is a seasoned coin which is known to halve every 4 years. Some may call Bitcoin or the entire Blockchain Ponzi because they are not making profit. But even if Bitcoin drop below $10k dollars, people who have the through knowledge of cryptocurrencies will continue to buy the Dip respectively and I will be among to eat the Dip.
Some don't cry wen the Bull is running but only cry when the bear is crawling, is not ment to be so.

Lots of fly-by-night scams on the scene but in the end it doesn't define bitcoin at all. Schiff has been stating all these negativities about bitcoin every time it hits the reds, but he's always quiet when the price rises and the overall market sentiment on bitcoin is positive. Also, 'Schiff is right?' How many times does it need for him to hit the correct predictions before bitcoin goes to zero? He's been right for a lot of times I can remember, but bitcoin is still here and still manages to get by and break records.  


Yeah maybe 'the ponzi' affects the global stock markets too, because there is also a sell-off happening right now on that part of the investment market. Peter Schiff might want to take a look.

BIG DIFFERENCE:   No one is saying BLOCKCHAIN will not exist, just the BitCoin PONZI scheme that is using the blockchain will go to near zero.   Bitcoin is NOT blockchain.  BITCOIN is not all cryptos, I am sure the Federal Reserve Coin will exist on the blockchain well into the future.

Just like PETS.COM was not the internet.  Pets.com gone, internet itself is still here.   

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BTC is going down because the PONZI is ending, there was no FUD near the highs of 68,000 dollars, but the price went down regardless.   More people wanted to sell near 60,000 than wanted to buy.   Smart money sold their BitCoin near the top, the fear and FUD now that the crash is in progress is the DUMB MONEY, the bag holders figure it out....



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Excuse me I may have missed something. Which part of blockchain bears any kind of resemblance to a ponzi scheme? Blockchain is the technology behind cryptocurrencies like Bitcoin. Its not actually Bitcoin itself.

If you don't want to buy the dip because you are in an emotional state of fear from the price dropping lower than you thought or hoped, then thats fine. But there is absolutely no reason to spread FUD. You want others to panic sell too?

The current price of BTC is going down, not because of a ponzi scheme but because of increasing FUD.

If Binance disables Bitcoin withdrawal for whatever random reason, the price drops because of panic sellers. You know who buys that coin? Binance. Same goes for every other big player hoping to buy cheap coin from scared coiners...

This is the dot com crash except for crypto. It doesn't mean there was no more internet, it just meant the speculation was rampant and there were too many fly by night scams in the space. BTC will still exist 10 years from now and probably worth more than it is today. As far as how low it can drop, 10x from the high is about $6700. It's done this before on several occasions.

That's definitely the biggest ponzi. Every year they print more money to keep the pace. In fact, inflation eats fiat. Chickens should go buy fiat, it's "safe" and smells nice too.

If you call Bitcoin a ponzi scheme than you might as well also call the USD, EUR and other currency a ponzi scheme because in some sense all of them are one. But the questions is if they will pop in the net year or the next 100 years and I think none of them will in the next few years.