Topic: The Multi-level Marketing scheme argument - page 2. (Read 5988 times)

Wait, I thought your main premise was that the Bitcoin project is an MLM, or was that a lie?  You keep switching your stories.  Just what is your main premise?

lol.. wait.. hahah holy $h1t.  You're serious with this thread, aren't you?  Wow. hahah wow...

OP: What do you think of the MLM comparison to a hypothetical Bitcoin where the value is related to the difficulty of the block where the coins were mined (something like BCP)?

The lack of relationship between mined-coin difficulty and mined-coin value seems like the biggest reason for the "pyramid scheme" accusation (though I guess that's not exactly the same as MLM).  Newcomers to Bitcoin are faced with having to figure out whether this lack of relationship was a) necessary for what is already a very difficult concept to understand, b) an oversight, or c) an intentional, integral part of what amounts to a complicated scam.  What should be obvious is that the soundness of a technological solution to an economic problem shouldn't require one to guess the intentions of the original author-- which, by the way, is why I think Bitcoin is doomed to failure.

I don't know enough about economics to say whether something like BCP would be successful or not, but I think the "pyramid scheme" question would be a nonstarter since early adopters would have no other incentive to draw in newcomers than to see the system succeed.

My main premise is that the bitcoin speculation market is a bullshit three (at least) ring circus, and that bitcoin zealots are no better the retards who think they're going to become millionaires working from home selling fucking gumball machines or whatever the fuck else.

Jesus, just go watch some of the bitcoin retards on You Tube as a perfect example. I'm embarrassed BY PROXY watching their videos...

Thanks,

You're a dumbass who has nothing of value to say of their own.  You waltz into a thread with your faux cleverness and try to appeal to your native audience and garner camaraderie though laughing at a perceived pariah. You use sheepish humor as a defense against an uncomfortable presentation against your chosen hobby/obsession.

But that's ok, because here, you're a special and unique flower, and we love you.

lol

Well since most people compare it to some sort of pyramid scheme then it must be true is your main premise? I would say that most people barely understand the world around them so it must not exist. People generally do not understand bitcoin at first blush and try to jump to the conclusion that it must be a pyramid scheme or some other form of MLM. They barely understand those either.

It could be argued that the entire monetary system is a pyramid scheme because there is incentive to get people to use it. Children are sent to school in order to learn how to be good drones and also how to be good consumers. They are inundated daily with commercial nonsense in order to partake of this monetary system. The only people who benefit from this are big bankers like rothschilds, rockefellers, jp morgan etc.


And then there is bitcoin. A currency/ commodity  that is owned by nobody and everybody at the same time. There are no big start up costs. My start in this cost me nothing as i already had the equipment. Just about anyone who is floating around the internet has the required equipment. Some equipment is more efficient than others though.

Incidentally your main argument is based upon wikipedia which is inherently weak. Anyone can make a wiki page which other less than intelligent people can quote for truth.

I think bitcoin has alot of inherent problems but i also think it could solve many problems facing the living souls on this plane today.

Don't really need an argument on /. for this one, as it's obvious and should be apparent to anyone who's ever read:

http://en.wikipedia.org/wiki/Multi-level_marketing

From the wiki:


"Criticism has focused on their similarity to illegal pyramid schemes, price-fixing of products (BITCOIN BOTS, "EARLY ADOPTERS," EXCHANGE OPERATORS MANIPULATING MARKET PRICE), high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales (RAMPANT SPECULATION VS. REAL ECONOMY), encouraging if not requiring salespeople to purchase and use the company's products (BITCOIN "ECONOMY"), potential exploitation of personal relationships which are used as new sales and recruiting targets (DITTO), complex and sometimes exaggerated compensation schemes (DITTO), and cult-like techniques which some groups use to enhance their members' enthusiasm and devotion (NEED I SAY MORE)."

AND:

"Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents, BITCOIN MINERS, BITCOIN EVANGELISTS, etc.), represent the company (BITCOIN P2P NETWORK) that produces the products or provides the services they sell (ONLINE TRANSACTION PROCESSING, COMMODITY SPECULATION). They are awarded a commission based upon the volume of product sold through their own sales efforts as well as that of their downline organization (USD ENTERING THE MARKETS).

Independent distributors develop their organizations by either building an active customer base (BITCOIN EVANGELIZING), who buy direct from the company (BITCOIN EXCHANGE OPERATORS), or by recruiting a downline of independent distributors who also build a customer base (BITCOIN MINERS, BITCOIN MERCHANTS) thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the company at wholesale price (EARLY ADOPTERS, BITCOIN MINERS)."

Not in the least.

It actually brings me joy to call you a fucking dumbass.

Please, post something else fucking stupid so I can berate you further.

lol

lol u mad

Didn't Amway "make it"?

Anyways, I am thinking about moving onto this gold mlm stuff after Bitcoin mlm.  You may ask yourself, is this Gold Coin MLM Overrated?

Numis Network is one of those newer companies based on MLM that are creating huge discussions regarding its legitimacy. But when it gets to be researched, it becomes quite clear that this Gold Coin MLM is definitely not overrated rather it is quite true in its validity.



HI MY NAME IS DAVE...
For over a decade, I've generated tons of leads for businesses across the USA through a series of popular websites, blogs and more. With my extensive knowledge of internet marketing and lead generation, I am now ready to personally help you increase both leads and phone calls.

http://davetrosdahl.com/numis-network-is-this-gold-coin-mlm-overrated/

You are a fucking dumbass.

I, I can't really say much else than that. Sorry Mods, but, someone oughta say it.

Synaptic's path of logic to how Bitcoin = MLM...

Bitcoin = 8 characters long
MLM = 13-12-13 alphabetic index

Now, if you drop the "1" digit you end up with 3-2-3.  The sum of which is 8.  Therefore BITCOIN IS AN MLM!!!

The parallels are only tenuous in the minds of those trying their best to defend it. To neutral parties who aren't unnecessarily inclined to negative associations (which doesn't include myself, since I've obviously become a staunch opponent), it's a natural comparison.  In fact that is the most oft used description of Bitcoin among people who research it and decide not to "invest" in it ("Seems like a pyramid scam to me").

Yes, I am an iconoclast.  I come here to represent the harsh realities of the medium and vacuum up everyone's fairy farts and sop up the rainbows from their humid pussy parties.

And the only place I'm considered a legend is in my bedroom...







...I've broken three fleshlights this year alone, I'll have you know goddamnit.

lol. Seriously though a lot of your posts on this forum revolve around how you dislike everything. One would have to stretch quite a bit to find any "real" similarities between bitcoin and MLM. Sure the early adopters may appear to be an advantage but it isnt really much of one other than on paper. If I happened to be an early adopter I may have 50000 bitcoins but I do not have liquidity in those bitcoins. I cannot sell them all because the markets are too small and the value would plummet.

There are no residuals associated with bitcoins. MLM has this factor in just about every instance of it. There is no direct incentive to get "new blood" . I don't get paid when somebody new adopts bitcoin. Neither do the early adpoters. Although if you stretch enough I suppose you could argue that everybody gets some value when a new person adopts bitcoin. You cannot really cash in on that value though.

I believe that you are perhaps the ultimate forum troll or at least you are a legend in your own mind.

As a comment on the current state of bitcoin - I wouldn't argue against this except to say it seems highly likely that some small fraction of this value is actually directly related to the use of bitcoin in trade. It might be that this proportion of the value is a USD cent or much less per bitcoin and all the rest is the speculative value.

It also seems reasonable to me that in the long term, the proportion *could* shift dramatically such that the speculative component is the smaller part.
While bitcoin's future as a powerful widespread currency remains 'possible' in my mind..  I think I differ from many on this forum in thinking that the timeframe for this might be on the order of decades or more.

The technology moves quickly - but that may only help bitcoin to operate in it's little niches.
There is 'distribution friction' which means that there's really nothing driving the desire for the average consumer to hold some tiny fraction of a bitcoin.
To overcome that distribution friction and allow bitcoin to be useful more widely, the per bitcoin value would have to be astronomically higher than it is today.
So what's going to drive bitcoin to even crazier high values? Rampant speculation might spike it up now and then.. but I don't see it holding it there.

That's entirely unsurprising to me.

*inherent to the medium.

emphasis on my remarks.