Topic: Unfortunately people will learn the hard way that Bitcoin is a Ponzi scheme (Read 814 times)

What an absolute shit post if I've ever seen one from the OP.
Currency is good because it's debt based? being debt based is half of the mass inflation issues we face in normal currency, debt driven currency over type produces nothing but inflation, no currency should lose value over time, just think about this logic for a second, you work your ass off for 20 years, as time goes by the $$$ you made in your first year is now worth far less, salaries do not go up at the rate in which inflation occurs, so as time goes on we work harder for less, what a system!!!!

We finally come up with a solution which solves these problems, limited supply and no debt = your value actually goes up over time, so now while you're working your ass off, you have incentive knowing that your work will pay off in the future, this is more inline with a system which actually benefits people, debt based + printing more creates a slave like system for humanity, while the people issuing debt benefit greatly, this new approach allows for an even field for all.

Sadly you suffer from the backfire effect, you've grown up with beliefs that what we have is good, so no matter how much logic is thrown at you, you'll never change your view.

Also if your whole reason for this is "Early investors benefit from later investors" then clearly you don't know how markets work, is the entire stock market a ponzi scheme too?

Best to just be quiet if you don't know what you're talking about or can't apply basic logic past over your bias views.

After reading such articles I understand that people don't at all understand the structure of bitcoin and what it's based on. Before coming to conclusions - you should figure out what the product is about.

off topic, but you know lemmings don't jump off cliffs? Disney got a literal truck load of them and tipped them off the back of the truck and over a cliff...

cool, eh! seems even more applicable now... hurm are crypto-lemmings the opposite of crypto-whales?

anyway no idea why I'm still in this thread.

toodles.

One million lemmings can't be wrong! 

I don't think that the people will learn the hard way that bitcoin is a ponzi scheme because if bitcoin is a really ponzi scheme then a lot of people are now complaining about bitcoin that it is ponzi scheme because bitcoin is not only a few years ago but it is more than 5 years which is a good year to test something and for me, from the past years of being a bitcoin user, i don't see any signs of ponzi scheme in bitcoin.

another newbie that is delusional giving stool again. maybe you have suffered from scam project before and that is why you think bitcoin is ponzi scheme. bitcoin is not MMM or any other shit. in fact bitcoin is not a scheme. unless you dont understant with a scheme is

Bitcoin is not a ponzi scheme. A ponzi scheme is when the original founder takes new investors money
and pay it back in small dividends to the older investors, till the point that it is unsustainable and the founder
runs away. A ponzi scheme is based on thin air, deceiving the masses that it has some actual business that
generate insane profits but are all bogus. Bitcoin is not like that.

Don’t you think it would be ridiculous to build these Ponzi schemes and wait for almost 9 years (since 2009) to cheat everybody? Bitcoin is a great cryptocurrency. Millions support it, and miners do not stop their work getting new BTC coins.

Hmm if bitcoin is going to be a ponzi scheme then whats a life insurance? most of them jus make the people pay the premium but never actually refund everything..!

Ponzi scheme defines the next home money to make up for the principal and excess returns, the collapse of the entire pyramid once there is no new home support, Bitcoin is obviously not such a pyramid scheme now, I suspect you even Ponzi scam Did not understand the definition, it used to analog Bitcoin.

My brother thinks this same thing. And people with this mindset are always adamant in their thinking. Is it big strange that someone with such thought would have gone through the bother of registering in this site, paid the fees in bitcoin and still has the nerve to post such?

I don't think OP understands how things work clearly with Bitcoin as their post is litered with fallacies all across the board. Many of you have clarified most errors but I want to discuss specifically the idea of money. You see the current system is already digital money, so you arguing that Bitcoin being numbers on a screen is a moot point. Bitcoin is a lot more than just digital money, it goes against the nature of everything you said but for all the right reasons. Why would we want the government to control the money supply when all that ever did was reduce purchasing power? I suggest you do some more research before you make bold claims such as this.

Well if that happens lot of people are going to be very unhappy.

Frankly, this is not an argument too.
1. If you don't personally see cui prodest - it doesn't mean nemo prodest.
2. A Ponzi scheme actually is to generate "profit" for oldies out of "investments" of newbies - this is exactly how bitcoin generates its "value".
"Consumption" does not anyhow lead to "production" - mostly it designates the very inverse process.
Bitcoin "mining" does not produce anything but just digits that one considered to be very nice. Someone else may consider as very nice something else, for instance his birthday or digit string containing as many 8's as possible.

But don't worry: most of the stocks nowdays are more then a half a Ponzi scheme - as soon as their investors mostly count on the price growth, not the dividends  

Let me tell you why you're wrong. The whole point of Ponzi scheme is to gain something out of nothing, in case of BTC and other cryptos who gains? Nobody. BTC is decentralized, it regulates itself by demand and that's where the price comes from, for Ponzi pyramid someone has to stand for it and regulate everything and drive up the price. And the last, but not least, you say BTC has nothing behind its price, but what about the energy consumption while mining, and the more there are Bitcoins - the harder it is to mine them, so they can't be so easily "printed", which may have led to a crash. Satoshi Nakamoto is a genius, not a liar, he gave people the opportunity to be more independent for what we should be thankful.

There is no any relation between Bitcoin and Ponzi schemes. This fake story is really funny and show the large ignorance of its inventors and promotors. Bitcoin is a real currency having very big value and market, but its price is volatile like all the crypto currencies. It is a real currency and asset and many people earn their living by working with it.

I don’t see how Bitcoin is a Ponzi scheme. However you are entitled to have your opinion, we can’t save you in this sense. If you think Bitcoin is Ponzi scheme, don’t invest.

Producing the debt does not necessarily mean producing the real value.
Producing the debt is as easy as "producing" a you-name-it-coin.
And no, I personally did not sign any obligation to pay any produced-by-bank debt. Especially, the dollars' debt.

Nevertheless, "a banking system" is a Ponzi scheme as well: they (banking institutions) pay interests/dividends etc., but they do not produce themselves any commodity (yes, say hello to Mr K.Marx).

Why is it legal? Only because your masters are forcing you and other people to use it. The biggest Ponzi scheme is Fiat

currencies and the shocking thing is that it is legitimized by governments. Any commodity can be a currency, if the

government "rubber stamp" it. They put a dead president on a piece of cloth {cotton and linen} and tell you that they

guarantee the value and people are foolish enough to believe it. {What a joke}  

Some people have abused this opportunity to scam others, but that does not mean that crypto in general is a scam. DYOR and use your common sense.