Is Bitcoin is a ponzi game

[odolvlobo]

A person that calls Bitcoin a Ponzi scheme either doesn't know anything about Bitcoin or doesn't even know what a Ponzi scheme is, or both.

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Nothing in that quote applies to Bitcoin.

Bitcoin is not fraudulent. It is 100% transparent.
Bitcoin has no operator.
Bitcoin does not earn a profit and it pays no returns.

[Amph]

I wish Bitcoin was Proof of Stake.

it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners

at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy

[Hazir]

I wish Bitcoin was Proof of Stake.

it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners

at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy

If you want to know more about Proof of Stake you can look here: https://bitcointalk.org/index.php?topic=27787.0 it was probably first post where Proof of Stake was proposed by QuantumMechanic
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.

[BayAreaCoins]

I wish Bitcoin was Proof of Stake.

it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners

at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy

If you want to know more about Proof of Stake you can look here: https://bitcointalk.org/index.php?topic=27787.0 it was probably first post where Proof of Stake was proposed by QuantumMechanic
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.

I claimed my CLAMS off my Bitcoin & DOGE addresses.

That's my "test" for proof of stake... now we see if someone breaks it, but till it is broke I want it .

[Amph]

I wish Bitcoin was Proof of Stake.

it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners

at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy

If you want to know more about Proof of Stake you can look here: https://bitcointalk.org/index.php?topic=27787.0 it was probably first post where Proof of Stake was proposed by QuantumMechanic
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.

what i'm saying is that many people believe that bitcoin is a ponzi because of the centralization in mining, so making it pow/pos, can turn both side happy

[BayAreaCoins]

I wish Bitcoin was Proof of Stake.

it would be better if it was pow/pos, so miner can have their slice and poors can earn something without investing in costly miners

at least they would stop calling it ponzi because of the miner controlling the reward, while the other are forced to buy

If you want to know more about Proof of Stake you can look here: https://bitcointalk.org/index.php?topic=27787.0 it was probably first post where Proof of Stake was proposed by QuantumMechanic
But again I am not sure if this has much to do with Bitcoin being a Ponzi Scheme. You must be quite stupid to believe that Bitcoin is a Ponzi because there are not signs of it at all.

what i'm saying is that many people believe that bitcoin is a ponzi because of the centralization in mining, so making it pow/pos, can turn both side happy

One "great" PoS service can centralize the system pretty easy.

CLAM for example is super centralized at the moment due to Just-dice.  It will be interesting to see how it grows ect...

I wonder if BTC was PoS if one service would have over 51%... How many Bitcoins would actually stake?  Would Satoshi stake his coins?  

[kelsey]

my pet hate is ponzi being about the most miss used terms on this forum, to the OP and replies please learn what a ponzi scheme is before replying/posting.

[BTCBLOGGER]

Locking that thread now. all the posted post are enough to tell that it was not a ponzi scheme.