Topic: Why some people treat BTC as ponzi scheme? - page 10. (Read 1237 times)
It is because what they are observed heard, the words Ponzi scheme scam are already peg to bitcoin cause BTC is very promising the Gold rush of the new era.
I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?
But I don't understand the reason behind this type of thought?
I think it’s because people have a hard time understanding how Bitcoin gets its value. It’s hard to grasp since it is not a tangible thing like gold and not backed by a government.
I like to compare Bitcoin to something like PayPal. PayPal is also not a tangible thing but it has a purpose and we are willing to pay for its services. The same is true for Western Union. The bottom line is that Bitcoin provides a service that gives it value.
Because most people don't believe in the coin,some don't have faith in it,and most importantly a number don't even believe in crypto. Most governments have created a hostile environment to BTC scaring away most potential investors,and shoving off interested parties
Simply because they dont understand. They dont know the nature and the way it makes people rich quickly. Ignorance also is the major factor that can make anyone to ascribe a wrong classification to anything.
Part of the problem lies in the fact that people simply do not understand what the Ponzi scheme is. In general, to draw any conclusions without having a complete and correct understanding of the subject matter is simply illogical and unreasonable. However, people just do it when it comes to bitcoins.
It's difficult not to treat Bitcoin as yet another pyramid scheme when, in the eyes of the uninitiated, the very first exposure they're likely to get about Bitcoin is on mainstream media and/or online ads, all of them purporting profits and returns far beyond conventional methods, and even putting traditional HYIPs to shame (I mean, come on, more than x10 profit in a year?).
So it is unfortunate, in a sense, that everything about Bitcoin seems to boil down to its price. But people fail to look past the dollars and see the true value of Bitcoin, and fail to see all the absent characteristics of a ponzi (centralized management, money created and paid out to older investors from newer ones, for example).
But take what information they can see, and it makes sense that they'd form such opinions. Their loss.
So it is unfortunate, in a sense, that everything about Bitcoin seems to boil down to its price. But people fail to look past the dollars and see the true value of Bitcoin, and fail to see all the absent characteristics of a ponzi (centralized management, money created and paid out to older investors from newer ones, for example).
But take what information they can see, and it makes sense that they'd form such opinions. Their loss.
The internet is polluted with various money making software's and investments so people are already considering anything that comes out to be a ponzi.
They don't want to be victimized by another scheme that they don't know but the real thing is bitcoin isn't like that, they don't know that it's a traditional upgraded online payment system.
They don't want to be victimized by another scheme that they don't know but the real thing is bitcoin isn't like that, they don't know that it's a traditional upgraded online payment system.
People treat BTC as ponzi scheme because they are yet to understand the way it works, and also because of its decentralized nature and the way it makes people rich quickly. if only they can come to understand how it works then we are good. We will keep going
Because they are in the possession of a large number of people around the world. They became money thanks to tradition, brutal experience and countless exchanges on a voluntary basis.
Ignorance is the worst disease. Most of these people are quite stacked illiterates with respect to Bitcoin whether they are educated or not, since they cared less to make findings or researches into what exactly is this Bitcoin and its mode of operation cum its effect on the economy. But yet, they can perceive the Bitcoin Users to be doing good with respected integrity. I feel illiteracy mostly due to negligence or ignorance cum FUDs which is a major barrier are the causes behind these people terming Bitcoin to be Ponzi scheme.
One of the reasons people see bitcoin as ponzi is because of its decentralized nature and the way it makes people rich quickly. Again government are not really in support of it so because of that people think there is something not clear about bitcoin.
Ignorance is a major factor that can make anyone to ascribe a wrong classification to anything. People are just too lazy and unwilling to engage themselves in any research, no matter how little. If you have to call bitcoin a ponzi scheme, then you must have valid reason for doing so. The sooner you do the better you discover what you have missed for not joining cryptocurrency early enough.
Because they are lack of knowledge, they can't make different between bitcoin and ponzi scheme, actually they don't want to know about bitcoin deeper.
Each financial specialist doesn't have the correct information about digital money. The beginner financial specialists make remark in view of the cost. So if the cost is low then they will guarantee it as Ponzi. I trust this is because of people encounter genuine challenges perceiving how Bitcoin gets its regard. It's hard to understand since it's definitely not a considerable thing like gold and not bolstered by an assembly. In reality this is the discussion of fledgling not the master. In the event that bit coin is Ponzi plot then every one of the coins in the market are super Ponzi.
It is because they don't fully understand what is Bitcoin and how it works and they don't know the definition of ponzi scheme. How can they call it a ponzi scheme if there is no company that is operating it, so who will scam people, none right? ponzi scheme also offers high payouts, so who offers that in Bitcoin? none, because there's really no one obligated to pay you when you invest. It is just that some people are basing their comments on what they've read or heard to other people that also have wrong information. They easily judge anything without having enough knowledge about what they are talking about.
In addition, the rise in bitcoin prices is quite high. So many suspects that it is due to ponzy or bubble scheme. You are right, it is based on the lack of understanding of bitcoin, if they want to learn it will get enlightenment that price movements really depend on market interest, namely the amount of supply and demand.
It is because they don't fully understand what is Bitcoin and how it works and they don't know the definition of ponzi scheme. How can they call it a ponzi scheme if there is no company that is operating it, so who will scam people, none right? ponzi scheme also offers high payouts, so who offers that in Bitcoin? none, because there's really no one obligated to pay you when you invest. It is just that some people are basing their comments on what they've read or heard to other people that also have wrong information. They easily judge anything without having enough knowledge about what they are talking about.
Because those people did not try to understand bitcoin,
They will only think that this is a scam. Just bring someone to the cryptocurrency and they will have money.
The cryptocurrency market is not like this
They will only think that this is a scam. Just bring someone to the cryptocurrency and they will have money.
The cryptocurrency market is not like this
Many people perception of bitcoin as a ponzi scheme is because there lack of knowledge and instability in the price i.e high volatility in the price, 0.05 btc might increase to 0.06btc in the next 24 hours which might looks odd and confusing to a newbie but a learnt fellow in the world of cryptos will know how btc operates and wouldn't regard btc as a ponzi scheme.
Everything is quite simple, people see it from the side as ordinary users get huge profits in a short period of time, without doing a lot of work and this does not seem to fit in with their ideas about earnings. Further they find the simplest explanation of such a profit - this is a pyramid. As a rule, such people live in their closed world and find the simplest explanations for complex things.
I think. Those who think that Bitcoin is a ponzi scheme, they just do not understand and do not get too lazy to try to understand it.
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