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Try to firstly learn, what Ponzi Scheme is.
I think you need to!
http://en.wikipedia.org/wiki/Ponzi_schemesA Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation
See my definition below, which matches perfectly with Bitcoin.
All good ponzi starts with a "plausible" story. Sigh. You humans never learn.
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It is clear that you are a troll.
WTF? What if anything have I written that is not genuinely intended to teach people about experience I had in my own life about losing massive amounts of money speculating?
What is not clear is which of the following is true:
- You have no understanding of what bitcoin is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
Jesus Christ! Do you know that I programmed one of world's first WYSIWYG word processors, Word UP (google it) back in 1986 when you were probably still in diapers.
I was one of the first three programmers of what became Corel Painter, the first program that let you paint with a Wacom tablet and simulates real paints, canvas, with grain, bleed, pressure, tilt, etc.
Then I wrote arguably the world's first social network, CoolPage.com which download.com will confirm to you had million users back in 2001 when Yahoo GeoCities free hosting was big and at one time we have 335,000 sites made with the product as confirmed by AltaVista, back when the internet was 1/10 the size it is now.
Do I need to provide an exhaustive resume to convince you that I can program anything I want to and I do understand very well the technology of Bitcoin.
But this discussion isn't even about technology, it is about human psychology and economics. And again I am very well studied in that area too.
It doesn't matter what I say here, because you fools are going to go and speculate. The important matter is if I can make a correct judgement of whether there is a market here worth my pursuit.
One thing I have learned is that no P2P currency will prosper if it doesn't include an appreciating value, i.e. deflation.
People don't understand that deflation concentrates wealth to the rich, because the rich have a higher % of their income to save. If you can't put that simple math in your head, then don't bother me.
- You have no understanding what a Ponzi Scheme is, or how it works, and are just spouting random stuff you've heard from other uneducated people.
A ponzi scheme is where there needs to always be new people bringing capital in, else the price collapses in a spiral. This is because there is no income model.
This is why I am saying a correct design (such as my design for AnonyMint.org AnonyCash.org AnonyCoin.org you can go read it) should discourage dormancy-- i.e. the measurement of how long the coins sit with one owner and are not traded.
If you know the Quantity Theory of Money (wikipedia is your friend), then you understand that the value of a currency is dictated by the money supply and the velocity of money, not just one of the two.
- You understand exactly what a Ponzi Scheme is, and what Bitcoin is and how it works. You therefore understand that Bitcoin is not a Ponzi Scheme, but you don't care. You find it entertaining to lie and try to confuse and mislead people.
WTF? All the data says Bitcoin's ponzi interest is far outscaling its transactional value thus far. And the comments I see in this forum confirm the data. You fools are in the "it will go up forever" ponzi delusion.
Enjoy the ride!
MODERATORS PLEASE UNLOCK THE JAIL SO I CAN GET OUT OF THIS NEWBIE FORUM, I don't have time to waste on this nonsense.