BitChick
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Activity: 1148
Merit: 1001
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June 27, 2013, 10:14:51 PM |
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Wow. Some newbie comes in and makes 2 posts saying "What's a ponzi" . . .
Two days and 40 posts later the newbie hasn't been back, and you're all still discussing it?
Please, don't feed the trolls.
Discussing ponzi schemes as related to Bitcoin is interesting enough in itself, so even if the newbie was just trolling there are others that will want to see responses to this. It was one of my first concerns but I was glad to read why there was no way it was a ponzi scheme and it put my fears to rest. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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papaminer
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June 27, 2013, 10:15:12 PM |
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go slap your neighbor
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฿: 1L7dSte4Rs4KyyxRCgrqSWYtkXdAb4Gy1z MORE INFO ABOUT ME: BTC |
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DannyHamilton
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Activity: 3388
Merit: 4653
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June 27, 2013, 11:04:58 PM |
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Please, don't feed the trolls.
Discussing ponzi schemes as related to Bitcoin is interesting enough in itself, so even if the newbie was just trolling there are others that will want to see responses to this. Google returns over 20,000 results when searching for ponzi on bitcointalk.org. Do we really need another thread talking about what has already been discussed 20,000 times? Can't people just go read the previous few thousand conversations? http://lmgtfy.com/?q=site%3Abitcointalk.org+ponzi |
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BitChick
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Activity: 1148
Merit: 1001
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June 27, 2013, 11:07:34 PM |
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Please, don't feed the trolls.
Discussing ponzi schemes as related to Bitcoin is interesting enough in itself, so even if the newbie was just trolling there are others that will want to see responses to this. Google returns over 20,000 results when searching for ponzi on bitcointalk.org. Do we really need another thread talking about what has already been discussed 20,000 times? Can't people just go read the previous few thousand conversations? http://lmgtfy.com/?q=site%3Abitcointalk.org+ponziIt is interesting enough to have 20,000 results.  Yes, I get it though. Probably pointless to discuss here. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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tclo
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June 28, 2013, 02:32:40 AM |
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What exactly does he mean?
He means he calls anything he doesn't understand a ponzi scheme. Yes that's probably it. Don't invite this person to your 4th of July BBQ unless you want to hear more of their lazily formed opinions. |
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legitnick
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June 28, 2013, 04:54:29 AM |
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Ive got in this argument with friends and family countless times. Some people just cant see past their own ignorance  |
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b!z
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Merit: 1010
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June 28, 2013, 04:56:35 AM |
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Ive got in this argument with friends and family countless times. Some people just cant see past their own ignorance Ignorance is bliss. |
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lophie
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June 28, 2013, 05:35:18 AM |
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"Dying is easy, it is living that is hard."  |
Will take me a while to climb up again, But where is a will, there is a way...
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slippyrocks
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Activity: 69
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respecttheslider
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July 04, 2013, 07:58:51 AM |
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What exactly does he mean?
since he does not know the definition of a [Charles] Ponzi scheme and bitcoin is clearly not one who the hell knows each and every bitcoin is worth the same at any given time and has no set value, by any definition it is not a [Charles] Ponzi scheme prices go up as people join and down as people leave this is simple market supply and demand nothing more third result when i googled "what is a ponzi scheme" http://www.sec.gov/answers/ponzi.htm |
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polarhei
Sr. Member
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Activity: 462
Merit: 250
Firing it up
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July 04, 2013, 08:40:49 AM |
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I don't think bitcoin is ponzi scheme as the amount is limited. Additionally, the fiat playing does not guartee anything. It Is fair play.
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LiteCoinGuy
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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July 04, 2013, 09:48:40 PM |
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I still don't know what it means. I could use google, but for the sake of conversation, I'll wait for an answer here
really you googled "ponzi scheme" and nothing useful came up. Like maybe wikipedia article explaining the concept of a ponzi scheme in the first post. Maybe you don't know how to use google. I rarely do this but LMGTFY http://lmgtfy.com/?q=ponzi+schememaybe he is an idiot  |
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candoo
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July 04, 2013, 09:51:02 PM |
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What about gold? Its the same as BTC.
That means gold = ponzi?
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Einer trage des andern Last, so werdet ihr das Gesetz Christi erfüllen.
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Come-from-Beyond
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Newbie
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July 04, 2013, 10:32:36 PM |
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What about gold? Its the same as BTC.
That means gold = ponzi?
Yes |
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CasinoBit
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July 05, 2013, 01:33:48 AM |
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What exactly does he mean?
According to him acquiring any asset which later on inflates as people adapt renders it a ponzi scheme. Real estate bubbles really are a ponzi schemes, yet people keep buying in. |
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leopard2
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July 07, 2013, 10:50:32 PM |
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ROFL
US treasuries are a Ponzi scheme, since mature treasuries are paid back by issuing new ones all the time
BTC cannot be a Ponzi scheme because the amount of BTC is limited and does not grow exponentially, like US debt does and most other countries debt
Government bonds = mother of all Ponzi schemes
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Truth is the new hatespeech.
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QuestionAuthority
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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July 07, 2013, 11:32:12 PM |
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Christianity is the ultimate Ponzi. Early adopters got to be apostles and hang with J dog. Latecomers have to pay pentance, tithe their asses off and can't cash-out till they die.
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Boussac
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Merit: 1015
e-ducat.fr
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July 08, 2013, 11:09:31 AM |
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Most retirement schemes I know are turning into Ponzi schemes because of changes in demographics.
Worst, retirement plans are sometimes Ponzi schemes that you have to pay for whether you like them or not, because your government says so.
Your neighbour should not worry so much about bitcoin because no one is making any promise or forcing him to use it.
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