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Bitcoin Forum > Other > Off-topic > Will we get fooled again?
Poll
Question: Will we get fooled again? You know what I'm talking about...
Yes, there are already other bitcoin ponzi/frauds out there - 45 (57.7%)
Yes, but not for a while, people have to "forget" this lesson so they can be doomed to repeat it - 11 (14.1%)
No, everyone has learned their lesson - 1 (1.3%)
I was never fooled, so it doesn't matter what happens to other people - 12 (15.4%)
It's not a scam, and pirate will suddenly repay as a grand-finale, punishing the nonbelievers that took MNW's bet - 5 (6.4%)
I have no clue - 3 (3.8%)
Other (please fill in) - 1 (1.3%)
Total Voters: 78

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Author Topic: Will we get fooled again?  (Read 1854 times)
myrkul
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September 01, 2012, 07:29:05 PM
 #21
Quote from: znort987 on September 01, 2012, 04:17:58 PM
If you're earning wages and paying into social security,
you're already getting fooled. The con is just longer,
but the basic principle is exactly the same.

mind=blown.

I hadn't thought of it in those exact terms before. I knew SSI was BS, but I hadn't made a connection to it being an actual Ponzi. That's exactly what it is, though, isn't it? If obligations are paid with later deposits, that's a damn Ponzi.

Hey... I don't suppose you can cash out all your SSI benefits all at once?  Grin
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sadpandatech
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September 01, 2012, 07:33:50 PM
 #22
http://www.youtube.com/watch?v=eKgPY1adc0A
If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system.
- GA

It is being worked on by smart people.  -DamienBlack
nimda
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September 01, 2012, 07:59:13 PM
 #23
It's all part of a maturing free market.
jojo69
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September 01, 2012, 08:07:05 PM
 #24
Quote from: myrkul on September 01, 2012, 07:29:05 PM
Quote from: znort987 on September 01, 2012, 04:17:58 PM
If you're earning wages and paying into social security,
you're already getting fooled. The con is just longer,
but the basic principle is exactly the same.

mind=blown.

I hadn't thought of it in those exact terms before. I knew SSI was BS, but I hadn't made a connection to it being an actual Ponzi. That's exactly what it is, though, isn't it? If obligations are paid with later deposits, that's a damn Ponzi.

Hey... I don't suppose you can cash out all your SSI benefits all at once?  Grin

welcome to the red pill brother
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
myrkul
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September 01, 2012, 08:12:21 PM
 #25
Quote from: jojo69 on September 01, 2012, 08:07:05 PM
Quote from: myrkul on September 01, 2012, 07:29:05 PM
Quote from: znort987 on September 01, 2012, 04:17:58 PM
If you're earning wages and paying into social security,
you're already getting fooled. The con is just longer,
but the basic principle is exactly the same.

mind=blown.

I hadn't thought of it in those exact terms before. I knew SSI was BS, but I hadn't made a connection to it being an actual Ponzi. That's exactly what it is, though, isn't it? If obligations are paid with later deposits, that's a damn Ponzi.

Hey... I don't suppose you can cash out all your SSI benefits all at once?  Grin

welcome to the red pill brother

Oh, I took that a long time ago. My issues with SSI were just coming from a different angle. Realizing that it is not only a government program I'm forced to pay into but a government Ponzi that I'm forced to pay into was just a little shocking. Wink
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kokojie
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September 10, 2012, 02:44:52 PM
 #26
Quote from: myrkul on September 01, 2012, 08:12:21 PM
Quote from: jojo69 on September 01, 2012, 08:07:05 PM
Quote from: myrkul on September 01, 2012, 07:29:05 PM
Quote from: znort987 on September 01, 2012, 04:17:58 PM
If you're earning wages and paying into social security,
you're already getting fooled. The con is just longer,
but the basic principle is exactly the same.

mind=blown.

I hadn't thought of it in those exact terms before. I knew SSI was BS, but I hadn't made a connection to it being an actual Ponzi. That's exactly what it is, though, isn't it? If obligations are paid with later deposits, that's a damn Ponzi.

Hey... I don't suppose you can cash out all your SSI benefits all at once?  Grin

welcome to the red pill brother

Oh, I took that a long time ago. My issues with SSI were just coming from a different angle. Realizing that it is not only a government program I'm forced to pay into but a government Ponzi that I'm forced to pay into was just a little shocking. Wink

Social security is not a ponzi, the money is invested in bonds, that generate real returns, and pays out using those returns. It may end up to be in deficit due to unrealistic promises and mis-calculation, and require government intervention (for example raising the retirement age, as they have done before), but it is not a ponzi.
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JoelKatz
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September 10, 2012, 05:50:59 PM
 #27
George Bush said it best... well, he said it anyway:

http://www.youtube.com/watch?v=eKgPY1adc0A
I am an employee of Ripple. Follow me on Twitter @JoelKatz
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