Topic: Why bitcoin never a ponzi (Read 670 times)

The irrefutable facts are:
- Beginners assume that bitcoin is issued by the company that they heard of being paired with bitcoin for the first time.
- Most of the ponzi scheme victims blame bitcoin, not the company.

- As time passes, Bitcoin can become centralized depending on the services that use it such as the custodial wallet, CEX, and the ponzi scheme itself.

- The ponzi scheme will not generate a payment method because it is not a means of payment. The two of them are different things that cannot be compared.

We need the right parable for people who are truly laymen, especially those who have even heard or read that Bitcoin is a scam and ponzi scheme, or it can be said that they have basically been doctrine with negative statements about bitcoin. I always use the following basic explanations for the people around me (who have never used but have negative judgments about bitcoin) and they are easy to understand:

What exactly is bitcoin?
Bitcoin = fiat
both have exactly the same function, namely, can be exchanged for fiat and vice versa, can buy goods and services, can be stored as assets, invest in other assets, gamble, etc.
what distinguishes:
- bitcoin is a fully digitized currency, has no physical.
- fiat can be printed with any amount and can be reproduced at any time, while bitcoin is not (limited to 21 million supply units at all times). That is why the price is very volatile than gold.

Why was my friend scammed by investing in bitcoin?
Almost all cases of bitcoin investment scams are ponzi schemes and fake projects.
You need to find out which company (for example company X) is running the investment program, they are the one who scammed your friends. Bitcoin is only the means used in this investment because it is considered easier, so you shouldn't blame bitcoin for scam. Imagine company X running a ponzi scheme using fiat money or gold, would you blame fiat money in this case? This means in the same way you blame the central bank for issuing fiat or earth that produces gold.

Why do people go bankrupt with bitcoin?
Then, why do you think people can go bankrupt with fiat? I guess they have the same cause through their own fault.

And to my conclusion on the question "Why bitcoin never a ponzi?"
Because ponzi is a scheme which later becomes activity, while bitcoin is only one of means of payment besides fiat, gold or other valuable assets, and obviously bitcoin is not issued by any ponzi scheme company.

It will never be a ponzi in my eyes. Most of us are just misinformed about Bitcoin, especially the Filipino community. They only understand Bitcoin because of the networking model. These scammish network marketing companies are using as front in their investment packages that are too good to be true.

People need to be educated about the real and positive use cases of Bitcoin, cryptocurrencies and the blockchain technology. Since 2018, it was my passion to educate the Filipino community about the real Bitcoin and not those fraudulent companies who are using Bitcoin as front in their scammish schemes.

Youtube, Google, Wikipedia, Bitcointalk and other sources are our best friends to get the right information we need about Bitcoin.

Well, we all (most people, anyway) are certain now that Bitcoin isn't a ponzi and we can look back and smile. But it wasn't that easy a choice to make buying it some 8-10 years ago. Even until 2017 Bitcoin was thought worse than a ponzi. People thought it was a scam and a bubble that would soon burst.

Well then satoshi must be on top of pyramid, even without any marketing he made people buy it! 

Having the thought or even the slightest relativism of Bitcoin to any Ponzi scheme at all is a crime to Bitcoin itself. I'm just saying though but, it's really wrong. Bitcoin is drastically different from Ponzi schemes at a lot of levels and odds. The Ponzi schemes is such that, they grow a pyramid as started by OP with a lot of referral packages of which it's growth is basically based on continual investing from investors but current and old. It's from these series of investing that ensures that the users or participants are paid but then, Bitcoin isn't like that. It is a one man thing and doesn't depend on new investors to get the go going. You get to choose the field of your participation either as a miner, trader or maybe just an investor or all of them.

All this is right about btc.. Btc is a transparent form of payment. Easy and fast. Btc is accepted almost worldwide now. Imagine if btc is being used for payment. And a lot of transactions. Or if blockchain tech is being used for accounting a lot of things.
This will bring transparency to everything and there won't be any hidden part in anything.
 


For this part, there are decentralised ponzi scheme or pyramid scheme now. And this are owned by some individuals.. Mostly in Ethereum and Tron Network. This DEX are bullshit because they are not audited in any way. And with that chart above, there is not possible success.

Bitcoin itself is not a ponzi or a scam. but con artists dragged down the bitcoin name which made it in the eyes of others a ponzi. They actually use bitcoin to attract several investors. Creating fake companies about bitcoin trading and introducing some of the best bitcoin traders, showing good profits and getting high ratings.

I think investing in bitcoin is profitable but also risky

You are right, I will add this to it too. The profit earned in trading or investing in bitcoin depends on the bitcoin market price.

I think that we need to add another 8 items to this list, which is also important. A distinctive feature of the Ponzi scheme is that it sets a guaranteed profit for a certain period of time. There is no guaranteed profit in bitcoin: here everyone can get a profit if the price of BTC increases, but they can also get a loss if the price of bitcoin decreases.

Ponzi is basically based on payment of old investment by new investments which might either be from new investors or an existing investors of which, Bitcoin is nothing like that. It's completely a decentralized system and operates on it's own block chain.

Well, you have a point there. That is why some of my fellow countrymen when someone asking bitcoin they think already that bitcoin is a scam. They never know that a scam is a group of Ponzi using this crypto as their valuable asset to have pyramiding recruitment for the members can able to cash out the money that has been invested. Moreover, this Ponzi scheme groups that always fooling people had been given a negative reputation to bitcoin. We can stop this crypto fraudulent by educating people and don't believe doubling method, that's sounds too greedy at all.

This is a very right comment, a good example happened in three days ago till today. Bitcoin was at at 9100 three days ago and has risen to $9900. Since 10 years ago, people that can trade are able to always make profits. Bitcoin is also decentralized and very transparent than being fake like ponzi schemes.

Some can have bad experience but it is not mainly about bad experience, they are completely novice and may not get what bitcoin is.

You really can't blame ignorant people. No matter how humanity advance in technology, there will always be those people who oppose it or at least see it something as something that it isn't. We can only educate them as there is a slim chance that they will educate themselves about this.

Looking at it from the Author's perspective, I think he/she is surrounded by people with the get rich quick mindset and loves ponzis which Bitcoin is unfortunately one of their payment method. If anyone without a proper knowledge lose to such scheme, BTC will be the one blamed because it's not legal anyway. Idiots like them won't say PayPal or Perfect Money scammed them if assuming that was the payment method used.
Just don't argue with them because you can't easily change such mindset m

What makes you so sure that Dollar is not pyramid ?
Dollar value has been propped up by USA military might.
Bitcoin is just sitting on top of bigger pyramid - western civilization, which is collapsing under Corona virus.

This single fact about bitcoin should already take it out from the ponzi scheme, how will bitcoin scam a person who owns it? Only those who do not understand how bitcoin and decentralization works doubt that bitcoin is a ponzi, labeling crypto is about the knowledge that lies within the person. Now if you hear a person calling bitcoin as a scam, send the definition of decentralization from google to his phone number, let him wonder himself after.
You'll know an investment company if they are ponzi or not if they promote and influence you to buy promising that you'll get an instant profit after. Who's gonna be falling for this? GULLIBLE people, these are the ones who are easily attracted to quick rich schemes, they got what they deserved at the end. Crypto comm is hurt everytime there are a scam like this, who are we gonna blame for this? None actually.

The impression that make people term bitcoin as a Ponzi scheme was borne out the fact that during the reign of the bankrupt and moribund MMM many of the founder of the scheme later incorporated bitcoin as means of payment and earnings thus tarnishing the image of bitcoin when the scheme finally collapsed and turned scam while many ignorants who failed to make a research assumed that bitcoin was a ponzi scheme not knowing that bitcoin just served as medium of exchange instead of the usual fiat that is synonymous to the scheme while others who care to seek more knowledge realized that bitcoin was misused.

This quote is as good as giving evidence that bitcoin isn't a ponzi. I don't know of any ponzi that has lasted as far as bitcoin has done. The ponzi like a pyramid and would diffuse into nothing but bitcoin for long has been there, invested on and yet still going strong against all negative response.

Bitcoin is one of the successful creation without any scam because all of the process and methods are decentralized which all of the transactions are transparent which is a good thing we identify easily if the to process are taking transaction or not. Still, the bitcoin cannot escape into Ponzi scheme and scams recently there are a lot of people right now are using this coin just to promote to their platform and can double up the money of the participants

Bitcoin is not a Ponzi scheme but bitcoin can be used for the ponzi scheme this is the most easier explanation that I can give for this.


Even we already told to the people that the particular platform may be a scam still they are pushing this and proving this is not and after a few weeks and months they lately discovered this is a scam and they waste a lot of money and time but one of the saddest people right there in the last investor of the Ponzi.