Is Bitcoin is a ponzi game

[BillyBobZorton]

Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing

WRONG!  Bitcoin is not a Ponzi scheme.

It's the new Tulipmania, Nigerian Prince, or Beanie Babies!  



Beaniecoin, I meant Bitcoin, collect them while they're still hot!





/endsarcasm

I still fail to understand the stupid ass analogy with the stupid ass teddy bears. They are comparing some useless, cute teddy bears with the monster of thought and technology advancement that Bitcoin is. Can someone explain this one to me for Jesus H Christ's sake?

[NyeFe]

Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing

Yes it is.  Dump your coins now.

The price is obviously going to continue to decline, so I will take your pain away btcblogger. I'll buy your coins at £130 each, before it reachs £100. I wouldn't want you to make too much loss on this 'ponzi' scheme

[franckuestein]

Why don't you check all the bitcoin features and source code to obtain the answer?
Revise it and you're going to see how it's made.  

(This is the open-source advantage)

[BTCBLOGGER]

This thread for all who thought that Bitcoin is a waste material/currency.

[Amph]

what make it a ponzi? the early adopter? they just got lucky, their coins were worthless at that time, i'm sure many of you would have sold those early coin at $10 at best

because of mega farms controlling the network? it is how bitcoin is supposed to be, nothing wrong here, you can still mine altcoin and dump for bitcoin, it's the same in the end

because rich guys are manipulating the market? rich guy can buy everything and manipulate other assets too, it's not bitcoin fault

[LiteCoinGuy]

[randy8777]

this forum is full of threads like this. if you really think it's a ponzi then sell your coins quickly. then you don't have to worry anymore.

[ashour]

No, Bitcoin is not a ponzi . To be a ponzi it needs someone to control it, and that's not possible since bitcoin is decentralised and nobody controls it. The price is still unstable and falls but it's not because bitcoin is a ponzi. The bitcoin price will stabilise and find a floor once it's mass adopted, right now is the best time to invest in bitcoin since the price is really low at the moment.

[acid_rain]

The thing is bitcoin's name is being dragged through the mud in conventional media. If you mention btc to a lay person on the street, they would tell you "Ah yes I've heard of it...Isn't it the drug dealers funny money?"

When someone mentions bitcoin and ponzi in the same sentence on a niche forum they're basically propagating more FUD, because if a noob comes along and is slightly interested, it will make him shy away almost immediately. Also what's most likely to happen is search engines pick up both "ponzi" and "bitcoin" being repeated on page topic and whenever someone searches for bitcoin, they will be displayed context ads related to ponzi topics.

It's all relevant guys. Whenever someone mentions something FUD, we should mention that Microsoft is now accepting bitcoin payments on xbox, paypal is looking into crypto etc.

[JayCoDon]

Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing

Yes it is.  Dump your coins now.

The price is obviously going to continue to decline, so I will take your pain away btcblogger. I'll buy your coins at £130 each, before it reachs £100. I wouldn't want you to make too much loss on this 'ponzi' scheme

I'll raise his £130 and give you £135.  

At the end of the day, if you want to sell, do it. Someone will buy your coin and make money.

[crazyivan]

It ll bounce back. It always do. This is just another round of profit skimming.

[ChuckBuck]

Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing

WRONG!  Bitcoin is not a Ponzi scheme.

It's the new Tulipmania, Nigerian Prince, or Beanie Babies!  

-snip-

Beaniecoin, I meant Bitcoin, collect them while they're still hot!





/endsarcasm

I still fail to understand the stupid ass analogy with the stupid ass teddy bears. They are comparing some useless, cute teddy bears with the monster of thought and technology advancement that Bitcoin is. Can someone explain this one to me for Jesus H Christ's sake?

Back in the 90's, Beanie Babies were the must have item to have, being bought, sold, traded at very high prices.

The beartrolls in the Speculation forum liken Bitcoin to Beanie Babies like it's a investment fad vehicle that will peak very high in a short period of time, then die off like just like Beanie Babies did.

[PoS]

no.

[oblivi]

Hello everyone!!!
Today I was looking at the price of Bitcoin and I suddenly a question arise in my mind is Bitcoin is like a ponzi scheme first investor will get a definite profit while other will get nothing

First investors get a higher profit than those that take the risk of buying later: It's called risk-reward and it's a phenomena given in every single fucking investment ever! Jesus.

[johnyj]

Just a highly manipulated commodity like silver, majority of the price movement is done by speculators. Hope this volatility will change after more and more people are using it to do real business

It is already very positive that the current user base is much larger than 2 years ago, but that is not enough to maintain a price rise of 100x from $10 to $1000

[Beliathon]

In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.

A Ponzi scheme is a zero sum game. In a ponzi scheme, early adopters can only profit at the expense of late adopters, and the late adopters always lose. Bitcoin can have a win-win outcome. Earlier adopters profit from the rise in value as Bitcoin becomes better understood and in turn demanded by the public at large. All adopters benefit from the usefulness of a reliable and widely-accepted decentralized peer-to-peer currency.

It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain.

Debunk other bitcoin myths here: https://en.bitcoin.it/wiki/Myths

[Slark]

"It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain." - so if Satoshi never used his coins (at this point his coins is worth A LOT, so he could easily sell them and become a multimillionaire) so who will benefit from it beside him? Early adopters?

[ticoti]

that is nonsense, First bitcoin buyers are not receiving money from last bitcoin buyer.  So Is FIAT a ponzi ?

Bitcoin is in a trading system where everyone can commerce just like in the stocks, and that does not make it be a ponzi.

[BayAreaCoins]

I wish Bitcoin was Proof of Stake.

[Hazir]

Can we just get over it already? Bitcoin is not a Ponzi scheme or any other type of HYIP (to the moon, they said!). For Bitcoin to be a Ponzi scheme certain conditions must be met and the most important one is this:
In a Ponzi Scheme, the founders persuade investors that they will profit. I want to tell Op this - Bitcoin does not make such a guarantee. Also there is no central entity or organisation nor person, just individuals building an economy. My question is: who who will win in the end? And the answer is: Everyone.

So when everyone's a winner it can't be a Ponzi.