Well, one of the negative stigmas in the crypto world is the development of cryptocurrency projects which instead of earning Bitcoin and make profitable even though they use a Ponzi scheme and this is what makes some ordinary people judge BItcoin is a negative thing that is not good if you invest in it. Of course, we hope that Bitcoin has a good image in the eyes of the world
Topic: Ponzi scheme and Bitcoin - page 2. (Read 1467 times)
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Ponzi has nothing to do with Bitcoin, we should never associate Bitcoin to Ponzi scheme, these Ponzi operators are just using Bitcoin to their activity, so even if these Ponzin schemes like Plus Token go down, it will have no impact on Bitcoin because it is a technology and Ponzi is scam scheme
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Depends on the general market demand for Bitcoin.. and it also depends on whether they dump the whole thing (supply). Seems like they'd find it a little hard to dump since most centralized exchanges place kyc limits on withdrawal of large funds. Normal hackers will likely avoid them.
Bitcoin itself is not a method to make more money, that is what many many people use it for but reality is that the creation purpose was to create a new currency that was better than the current fiat system we have and to that point bitcoin managed to actually build something that is better.
What we put on top of that and buying lows and selling highs and all those Bakkt things and leverage bitmex things etc are all because people used bitcoin for that, which goes to show you that we are the reason why all systems are broken, communism didn't worked, capitalism failed, socialism got destroyed, whatever system you throw at humanity they found a way to use it for personal gain and not improvement of our society. Bitcoin intended to be different but ended up in the same place.
What we put on top of that and buying lows and selling highs and all those Bakkt things and leverage bitmex things etc are all because people used bitcoin for that, which goes to show you that we are the reason why all systems are broken, communism didn't worked, capitalism failed, socialism got destroyed, whatever system you throw at humanity they found a way to use it for personal gain and not improvement of our society. Bitcoin intended to be different but ended up in the same place.
pyramid schemes will not stop bitcoin's rise, but the reputation for new investors will be tarnished. Some days, people are more vigilant than in previous years. But with all the savings, altcoin ponzi schemes have started to come to light where teams are just fleeing. New project legislation can be effective in stopping these issues.
Always have thousand way for scammer to make ponzi or hype project with using bitcoin as their label name, every one have know how to increase profit whit bitcoin but when some hype project use bitcoin as their background way many people have manipulated and trusted whit hype site, they don't know give fake news about bitcoin and try to give support with their member about they are legit project investment.Well that's the sad reality, whether we like it or not scammer can't be totally eliminated and no matter what we do they can do something around it. As investors it is very important that you fully know everything about the project because scammers will stop at nothing and they will make sure their projects look like a legit project and it may be very difficult to detect it, it pays to know the makers and whose behind those projects.
pyramid schemes will not stop bitcoin's rise, but the reputation for new investors will be tarnished. Some days, people are more vigilant than in previous years. But with all the savings, altcoin ponzi schemes have started to come to light where teams are just fleeing. New project legislation can be effective in stopping these issues.
Always have thousand way for scammer to make ponzi or hype project with using bitcoin as their label name, every one have know how to increase profit whit bitcoin but when some hype project use bitcoin as their background way many people have manipulated and trusted whit hype site, they don't know give fake news about bitcoin and try to give support with their member about they are legit project investment.Well that's the sad reality, whether we like it or not scammer can't be totally eliminated and no matter what we do they can do something around it. As investors it is very important that you fully know everything about the project because scammers will stop at nothing and they will make sure their projects look like a legit project and it may be very difficult to detect it, it pays to know the makers and whose behind those projects.
When ponzi and hype project use bitcoin label in their website and product many people can be manipulated and make investor have scam much money, we know detail how ponzi and hype working although use bitcoin or coin label in their website name, example with Bitconnect where giving 1% every day profit landing and your coin keep the same value after pass their contract more than 100 days, but what did you get now BBC have been scam.
Isn't that the rule in getting profit on trading? Buying at a lower price and selling at a higher price? If bitcoin falls into that, pretty much all of things that is sold in the market falls under it. Like gold, silver etc
You miss the whole pictureIt is definitely true with respect to trading, but if it were only about trading, we would have a classic Ponzi scheme with any tradable asset. However, the difference between gold, silver and other real assets, on the one hand, and some scammy tokens, on the other, is crucial and definitive. Real assets are called real for a reason
And the reason is that these assets have plenty of utility beyond just trading. Then buying low and selling high stops being the only useful option available to you. With Ponzies, the only way their tokens can be of any use to you is when you sell them higher than what you bought them for. That's their only utility and distinguishing feature
You are just equating "Ponzi scheme" with "speculation." That's ridiculous. Reaching some arbitrary measure of real world usage isn't what defines a Ponzi scheme, which is a form of fraud. And even if your definition applied, Bitcoin is frequently used as a medium of exchange and even a unit of account. It's a "real asset" through and through even if you don't think very highly of it
I'm curious as to why you refuse to look beyond speculation
Since this is what ultimately determines whether speculation is synonymous with a Ponzi scheme (as its modus operandi). So it is definitely not like I'm just equating "Ponzi scheme" with "speculation", or some exotic variety thereof. Put differently, if it is only about speculation and nothing else, then you can be certain that you are dealing with a fraud. Okay, you disagree, I understand, but would you disagree that most altcoins (aka shitcoins, for the record) as well as the best part of ICO's are a form of fraud functioning in a Ponzi-like manner and environment, where profits can only come from later investors?
Isn't that the rule in getting profit on trading? Buying at a lower price and selling at a higher price? If bitcoin falls into that, pretty much all of things that is sold in the market falls under it. Like gold, silver etc
You miss the whole pictureIt is definitely true with respect to trading, but if it were only about trading, we would have a classic Ponzi scheme with any tradable asset. However, the difference between gold, silver and other real assets, on the one hand, and some scammy tokens, on the other, is crucial and definitive. Real assets are called real for a reason
And the reason is that these assets have plenty of utility beyond just trading. Then buying low and selling high stops being the only useful option available to you. With Ponzies, the only way their tokens can be of any use to you is when you sell them higher than what you bought them for. That's their only utility and distinguishing feature
You are just equating "Ponzi scheme" with "speculation." That's ridiculous. The most basic feature of a Ponzi scheme is it promises investment returns under fraudulent pretenses. The point of investing in a Ponzi scheme is to yield ROI, not to buy low and sell high.
Reaching some arbitrary measure of real world usage doesn't define a Ponzi scheme either. It's a form of fraud. Even if your definition applied, Bitcoin is frequently used as a medium of exchange and even a unit of account. It's a "real asset" through and through even if you don't think very highly of it.
The phenomenon you are indirectly referring to is known as the greater fool theory. It's a market phenomenon and investment strategy, not a fraudulent investment scheme like a Ponzi:
Quote
The greater fool theory states that it is possible to make money by buying securities, whether or not they are overvalued, by selling them for a profit at a later date. This is because there will always be someone (i.e. a bigger or greater fool) who is willing to pay a higher price.
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
If there were sizeable ponzi schemes that collapsed then even so it should not really affect the price of Bitcoin because there are far too many variables to consider before any price fluctuation would occur.
pyramid schemes will not stop bitcoin's rise, but the reputation for new investors will be tarnished. Some days, people are more vigilant than in previous years. But with all the savings, altcoin ponzi schemes have started to come to light where teams are just fleeing. New project legislation can be effective in stopping these issues.
That will probably be the most lasting effect from those ponzi schemes, while they are not going to damage the price of bitcoin that much regardless of their size the real problem is that people are going to begin to associate the scam not with the people that got their money but with bitcoin and this will slow adoption as those people will most likely prefer to avoid bitcoin from now on and if anyone that is close to them inquires them about bitcoin they will only have bad things to say about it. Bitcoin is a Ponzi scheme.
Its value may be determined according to the greater fool theory but it's definitely not a Ponzi scheme
Well, that actually depends on your point of view
If we assume that the defining criterion of a Ponzi scheme is paying profits to earlier investors with the funds obtained from more recent investors (as per Wikipedia, no plagiarism intended), Bitcoin fits this definition pretty well, at least as far as its speculative part is concerned (which is the best part of it anyway). You can only earn dough by buying coins at a lower price and then dumping them on someone else at a higher price
Isn't that the rule in getting profit on trading? Buying at a lower price and selling at a higher price? If bitcoin falls into that, pretty much all of things that is sold in the market falls under it. Like gold, silver etc
You miss the whole picture
It is definitely true with respect to trading, but if it were only about trading, we would have a classic Ponzi scheme with any tradable asset. However, the difference between gold, silver and other real assets, on the one hand, and some scammy tokens, on the other, is crucial and definitive. Real assets are called real for a reason
And the reason is that these assets have plenty of utility beyond just trading. Then buying low and selling high stops being the only useful option available to you. With Ponzies, the only way their tokens can be of any use to you is when you sell them higher than what you bought them for. That's their only utility and distinguishing feature
ponzi scheme will slowly diminish in the crypto space as it's getting regulated.
People has learned from their experience, they are more matured now and they can make good decision.
Although the market is bad for the last 1 year or so, but it has been an opportunity for us to realize our past mistakes and we will never get victims of scams anymore, though this kind of act will not be stopped but at least it will be totally minimize.
The future I see in crypto is that bitcoin will continue to go up, while ponzi will eventually die, they are quite opposite so they don't succeed together.
People has learned from their experience, they are more matured now and they can make good decision.
Although the market is bad for the last 1 year or so, but it has been an opportunity for us to realize our past mistakes and we will never get victims of scams anymore, though this kind of act will not be stopped but at least it will be totally minimize.
The future I see in crypto is that bitcoin will continue to go up, while ponzi will eventually die, they are quite opposite so they don't succeed together.
pyramid schemes will not stop bitcoin's rise, but the reputation for new investors will be tarnished. Some days, people are more vigilant than in previous years. But with all the savings, altcoin ponzi schemes have started to come to light where teams are just fleeing. New project legislation can be effective in stopping these issues.
Always have thousand way for scammer to make ponzi or hype project with using bitcoin as their label name, every one have know how to increase profit whit bitcoin but when some hype project use bitcoin as their background way many people have manipulated and trusted whit hype site, they don't know give fake news about bitcoin and try to give support with their member about they are legit project investment. Besides it is unlikely that ponzi operators would be dumping their proceeds all at once on the market straight away.
That's true but it still doesn't mean they won't affect the price.
In the case of Plus Token, it's speculated they've been slowly dumping since they exit scammed in June. Chainalysis reported 2 weeks ago that they had dumped 25,000 BTC since June, with another 20K waiting in the wings: https://blog.chainalysis.com/reports/plustoken-scam-bitcoin-price
Coincidentally, the market topped in June and has been downtrending ever since.
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Perhaps in the short term, if the scheme is very widespread and there is millions of investors.
However in the long run there should be no tangible effects on bitcoin's development nor price. We've seen the collapse of Bitconnect and that I think did not even trigger any short term detrimental effects let alone any long term ones.
You're overworrying I think. Most people already distance these ponzis from BTC in their minds. Besides it is unlikely that ponzi operators would be dumping their proceeds all at once on the market straight away.
Bitcoin is a Ponzi scheme.
Its value may be determined according to the greater fool theory but it's definitely not a Ponzi scheme
Well, that actually depends on your point of view
If we assume that the defining criterion of a Ponzi scheme is paying profits to earlier investors with the funds obtained from more recent investors (as per Wikipedia, no plagiarism intended), Bitcoin fits this definition pretty well, at least as far as its speculative part is concerned (which is the best part of it anyway). You can only earn dough by buying coins at a lower price and then dumping them on someone else at a higher price
Isn't that the rule in getting profit on trading? Buying at a lower price and selling at a higher price? If bitcoin falls into that, pretty much all of things that is sold in the market falls under it. Like gold, silver etc.
If it’s a major Ponzi scheme using Bitcoin then yes it would have an affect on Bitcoin price. This would also be the case for a problem with a major exchange such as MtGox or Cryptsy.
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
If they’re holding bunch of BTC’s then they could likely dip the market a bit but its effect to market is only temporary just like other ponzi’s that dumped their stash. If same scenario happen in the future its like another ordinary day in crypto.Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
Definitely it will affect Bitcoin market price negatively most expecially if the Ponzi scheme are with the use of Bitcoin and crypto currency. You see for yourself when the numbers of ICO turned Scam people lost trust in them and stay away from investing in such business and that action by investors had negative effect on Bitcoin price and that crypto currency market in general.Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.
but as we can see where bitcoin havent affected much and these dumps and fluctuations are just being part of its growth.We wont see any low levels soon it might not be a guarantee but
at least we do see that theres such demand.
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