Bitcoin is NOT an MLM kind of ponzi

[gentlemand]

There are no shortage of people on here who freely admit to treating it like a pyramid scheme. They can't wait for a new wave of buyers to offload on. That doesn't mean Bitcoin is inherently dodgy but it's always been many things to many people.

[VirosaGITS]

There are no shortage of people on here who freely admit to treating it like a pyramid scheme. They can't wait for a new wave of buyers to offload on. That doesn't mean Bitcoin is inherently dodgy but it's always been many things to many people.

Sound like typical pump and dump to me. In way is it a ponzi but such is the way of shady stock dumping. I wouldn't call BTC shaddy but the value is fidgety and the current true value is probably lower than the current ticket says. So i'd be very careful with holding BTC right now.

I can't help but feel it will crash by a big chunk at least once before it truly stabilize.

[CanIHazBitcoin777]

There are no shortage of people on here who freely admit to treating it like a pyramid scheme. They can't wait for a new wave of buyers to offload on. That doesn't mean Bitcoin is inherently dodgy but it's always been many things to many people.

Sound like typical pump and dump to me. In way is it a ponzi but such is the way of shady stock dumping. I wouldn't call BTC shaddy but the value is fidgety and the current true value is probably lower than the current ticket says. So i'd be very careful with holding BTC right now.

I can't help but feel it will crash by a big chunk at least once before it truly stabilize.

Lol thats stupid, it already crashed.

It is stable now, but it will take some time until big investors realize this and have more confidence in it.

[1Referee]

There are no shortage of people on here who freely admit to treating it like a pyramid scheme. They can't wait for a new wave of buyers to offload on. That doesn't mean Bitcoin is inherently dodgy but it's always been many things to many people.

Sound like typical pump and dump to me. In way is it a ponzi but such is the way of shady stock dumping. I wouldn't call BTC shaddy but the value is fidgety and the current true value is probably lower than the current ticket says. So i'd be very careful with holding BTC right now.

I can't help but feel it will crash by a big chunk at least once before it truly stabilize.

Big crashes will happen anyway, whether people consider Bitcoin a ponzi or not. Exchanges are part of the problem as they from time to time try to cause panic as that generates a huge load of volume. Currently exchanges have much lower income due to the low volume. You can expect them to shake things up quite hard from time to time in order to get people to panic sell or buy. It's a business after all.

[tyz]

Completely agree! i like the quote from Thomas Watson about the world's computer demand. Could be compared to claims from Alan Greenspan, for example, regarding Bitcoin.

"I think there is a world market for maybe five computers." Thomas Watson, president of IBM

Bitcoin will only go up in the future, the big picture will look like this:


So let them do their hating and focus on your own business, which should be getting as much BTC possible while it's still possible to obtain 1 BTC without needing to be already rich. Owning 1 BTC will be the equivalent of owning BRK type A stocks. It's beyond me how some people still not realize this fact. Owning 1 unit of BTC: buying a parcel in the most important network ever.

Every great technology, scientist, etc.. was made fun off, bashed and was put down before his invention or himself wasn't recognized. It's just how it goes in this world, it's just a human nature.

Until then, let's keep getting those coins. That's at least how I think.

[avatar_kiyoshi]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

[VirosaGITS]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

There are still people's who think a few milleniar ago, there was Adam and Eve and she bit in an Apple because a snake say so. Or that the earth is flat or Canadians live in igloos. Better just forgot about it, imo.

[RealBitcoin]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

There are still people's who think a few milleniar ago, there was Adam and Eve and she bit in an Apple because a snake say so. Or that the earth is flat or Canadians live in igloos. Better just forgot about it, imo.

If that is so, then anything is possible.

Bitcoin could go to 1000000000000$ easily, good things need to happen more often, not just bad ones...

[VirosaGITS]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

There are still people's who think a few milleniar ago, there was Adam and Eve and she bit in an Apple because a snake say so. Or that the earth is flat or Canadians live in igloos. Better just forgot about it, imo.

If that is so, then anything is possible.

Bitcoin could go to 1000000000000$ easily, good things need to happen more often, not just bad ones...

Well, its not possible for bitcoin to reach 1 million USD, let alone one quadrillion USD. Gotta keep within limits of reality, which this is not. But it would be possible for it to reach 1k to 10k USD in our lifetime. 100k USD is also impossible.

[RealBitcoin]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

There are still people's who think a few milleniar ago, there was Adam and Eve and she bit in an Apple because a snake say so. Or that the earth is flat or Canadians live in igloos. Better just forgot about it, imo.

If that is so, then anything is possible.

Bitcoin could go to 1000000000000$ easily, good things need to happen more often, not just bad ones...

Well, its not possible for bitcoin to reach 1 million USD, let alone one quadrillion USD. Gotta keep within limits of reality, which this is not. But it would be possible for it to reach 1k to 10k USD in our lifetime. 100k USD is also impossible.

If the USD would be hyperinflated then it would be possible.

1 BTC =2,381,724,241,311,967,700.00 ZWR (Zimbabwe dollar)

So if you live in Zimbabwe and hold 1  BTC you are a Quadrillionaire

[VirosaGITS]

There are still people's who think if bitcoin is ponzi scheme, they not understand about bitcoin basically and just judge without thinking/understanding.

*snip*
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I like this.

There are still people's who think a few milleniar ago, there was Adam and Eve and she bit in an Apple because a snake say so. Or that the earth is flat or Canadians live in igloos. Better just forgot about it, imo.

If that is so, then anything is possible.

Bitcoin could go to 1000000000000$ easily, good things need to happen more often, not just bad ones...

Well, its not possible for bitcoin to reach 1 million USD, let alone one quadrillion USD. Gotta keep within limits of reality, which this is not. But it would be possible for it to reach 1k to 10k USD in our lifetime. 100k USD is also impossible.

If the USD would be hyperinflated then it would be possible.

1 BTC =2,381,724,241,311,967,700.00 ZWR (Zimbabwe dollar)

So if you live in Zimbabwe and hold 1  BTC you are a Quadrillionaire

Well, then yes, it would be possible. I'm assuming USD's PPP remain in a normal growth, with a normal inflation. If the US collapse and stop existing then sure, but then USD is no longer a barometer and people aren't any richer than now if they own a Quadrillion USD.

Just that at the current buying power of the USD, there is no way for BTC to reach 1million, that would be BTC would have a market cap of somewhere near the total global economy of every nations, or more.

[RealBitcoin]

Well, then yes, it would be possible. I'm assuming USD's PPP remain in a normal growth, with a normal inflation. If the US collapse and stop existing then sure, but then USD is no longer a barometer and people aren't any richer than now if they own a Quadrillion USD.

Just that at the current buying power of the USD, there is no way for BTC to reach 1million, that would be BTC would have a market cap of somewhere near the total global economy of every nations, or more.

Well this is not an economics theead so i wont get deep into it, but actually you would be richer because all fiat currencies would collapse at the same time. The USD is the bottom of all of them ,and if you lose the bottom, all of them fall down.

And if the money flows into BTC, then you would be a very rich person by holding BTC alone, since BTC is immune to  fiat inflation.

[favdesu]

MLM = multi level marketing. the bitcoin blockchain has no affiliate/marketing built in, hence no multi or single level marketing.

[RealBitcoin]

MLM = multi level marketing. the bitcoin blockchain has no affiliate/marketing built in, hence no multi or single level marketing.

It can be argued that since bitcoin is "ethereal" its only purpose is is to buy more and enrich the first buyers.

But if this is the case, then the same logic can be applied to fiat, in which case its much worse, so their MLM argument fails badly...

[VirosaGITS]

MLM = multi level marketing. the bitcoin blockchain has no affiliate/marketing built in, hence no multi or single level marketing.

It can be argued that since bitcoin is "ethereal" its only purpose is is to buy more and enrich the first buyers.

But if this is the case, then the same logic can be applied to fiat, in which case its much worse, so their MLM argument fails badly...

That sound like improper application of logic, since Bitcoin can be mined and thus reward is obtainable without putting money in a marketing ploy that goes strait in someone's spending cash.

It's true that early adopter that held their Bitcoin have became big winner by now, but that's not what a MLM is. I'd say such is the natural way of the economy. You either have a vision or you don't.

[perfect999]

Bitcoin is a payment system comparing to any other method are system is completely meaningless.
May be when bitcoin hit bigger prizes, rumors have said like that.

Yes when bitcoin was unpopular no government not even technical geeks also not interested in bitcoin. But once it hit $1000 mark, everybody did their counter part. Comparing bitcoin to a ponzi scheme must be a rumor.

[tmfp]

This thread is just another sig spam excuse.
I know a bit about MLM and ponzis, Bitcoin bears no resemblance to either.

[zzaza]

Some people claim bitcoin will give good returns to only for early adopters not to the later entries, like MLM works.
My view,
1. Bitcoin is still in early stages, so we will get big boom from it.
2. Unlike MLM you will not loose anything because of bitcoin buying. You can use it or re-sale it.
3. Satoshi has designed bitcoin like initially as a investment later as a money. So, never afraid of it's worth.
4. Bitcoin is NOT ponzi scheme, as below
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I can agreee with your idea, but still didnt have the courage to invest some money in BTC. Probably i will regret it. Who knows...

[n2004al]

Some people claim bitcoin will give good returns to only for early adopters not to the later entries, like MLM works.
My view,
1. Bitcoin is still in early stages, so we will get big boom from it.
2. Unlike MLM you will not loose anything because of bitcoin buying. You can use it or re-sale it.
3. Satoshi has designed bitcoin like initially as a investment later as a money. So, never afraid of it's worth.
4. Bitcoin is NOT ponzi scheme, as below
Buy--> Use = No profit no lose when used as money
Buy-->Hold-->Use = Big profit,NO Lose. Profit only when used as investment.

I can agreee with your idea, but still didnt have the courage to invest some money in BTC. Probably i will regret it. Who knows...

Don't cost nothing to no one, I think, to spent a few more than 1000 us dollar to buy some bitcoins. Only to have in possession a product which, at least, have this forum with more 500 000 discussants, have an interesting story to tell about its life and for (mostly) because of the technology which has produced it. It is a disruptive technology which is adopted every day more and more by the bigs of every field where can be applied. Bitcoin is the first materialization of this technology (peer to peer) and will live, at least, exactly for this fact.

[RealBitcoin]

MLM = multi level marketing. the bitcoin blockchain has no affiliate/marketing built in, hence no multi or single level marketing.

It can be argued that since bitcoin is "ethereal" its only purpose is is to buy more and enrich the first buyers.

But if this is the case, then the same logic can be applied to fiat, in which case its much worse, so their MLM argument fails badly...

That sound like improper application of logic, since Bitcoin can be mined and thus reward is obtainable without putting money in a marketing ploy that goes strait in someone's spending cash.

It's true that early adopter that held their Bitcoin have became big winner by now, but that's not what a MLM is. I'd say such is the natural way of the economy. You either have a vision or you don't.

I guess but these media shill could twist the interpretations to their agenda.

I was illustrating that something digital doesnt mean something irreal, most people , who are materialists, cannot comprehend that.

Yet their hipocrisy hits orbital levels when they blame BTC to be an ethereal ponzi (which is not), yet they don't see that their fiat system is a ponzi on steroids.