Wikipedia's List of Ponzi schemes includes Bitcoin

[pennywise]

As the name of the thread says, folks on Wikipedia think that Bitcoin is a Ponzi scheme and have included him on the list.

http://en.wikipedia.org/wiki/List_of_Ponzi_schemes


Yet another guy who is scared by Bitcoin idea, obviously. I think someone shoul join aricle's talk page and convince people they're wrong.

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[Stunna]

To be fair it doesn't explicitly say that Bitcoin is a ponzi scheme, they state:

"Bitcoin has been called a Ponzi scheme"

Which it obviously has been called by many critics.


Full excerpt:

Bitcoin has been called a Ponzi scheme, especially following its extremely high growth rates in comparison to the dollar in March and April 2013. It has been clearly shown the growth of its to-dollar value is directly correlated with sustained growth of public attention and belief of its growth. At the same time, the Bitcoin Project describes Bitcoin exclusively as an "experimental digital currency" and does not refer to it as an investment.

[virtualmaster]

In Wikipedia can write any idiot an article.
We must contest the article and if enough people do it then it will be corrected.

[pera]

Actually it says:

Bitcoin has been called a Ponzi scheme, especially following its extremely high growth rates in comparison to the dollar in March and April 2013. It has been clearly shown the growth of its to-dollar value is directly correlated with sustained growth of public attention and belief of its growth. At the same time, the Bitcoin Project describes Bitcoin exclusively as an "experimental digital currency" and does not refer to it as an investment.

https://en.wikipedia.org/wiki/List_of_Ponzi_schemes

It was added by ip 81.38.251.52 some weeks ago: https://en.wikipedia.org/w/index.php?title=List_of_Ponzi_schemes&action=history

[farlack]

ok well I deleted it. 

[Come-from-Beyond]

In Wikipedia can write any idiot an article...

...but it's still revised by the community.

[mobile4ever]

In Wikipedia can write any idiot an article.
We must contest the article and if enough people do it then it will be corrected.

+1

I think a maximum of 30 people run Wikidpedia. The amount of traffic that Google and others give those 30 people is amazing. They have become an "authourity" site for some unknown reason.

[farlack]

In Wikipedia can write any idiot an article.
We must contest the article and if enough people do it then it will be corrected.

+1

I think a maximum of 30 people run Wikidpedia. The amount of traffic that Google and others give those 30 people is amazing. They have become an "authourity" site for some unknown reason.

Wikipedia is non profit, and they're an authority because millions and millions of websites link back, and they have a ton of pages indexed.

[🏰 TradeFortress 🏰]

To be fair it doesn't explicitly say that Bitcoin is a ponzi scheme, they state:

"Bitcoin has been called a Ponzi scheme"

Which it obviously has been called by many critics.

I call fiat currency a Ponzi scheme (it is, the biggest ever). Should I add that too?

Social security is, literally, a ponzi scheme.

[darkmule]

In Wikipedia can write any idiot an article.
We must contest the article and if enough people do it then it will be corrected.

People who don't edit Wikipedia and know its rules and behaviors should not make entering an edit war their first participation.  The inclusion of Bitcoin on this list as a Ponzi is simply incorrect by Wikipedia's rules and not justified, in particular by WP:RS, the Reliable Source policy.  The list is a list of Ponzis, not a list of things anyone anywhere has ever accused of being a scam.

In any event, someone has already reverted that edit.  I'm sure there are Wikipedians here who will stay on top of it.

The very fact there has been a Ponzi scam involving Bitcoin shows that Bitcoin, itself, is not a Ponzi scam, any more than a tire is a car.  It, like dollars or gold or anything else that could be used in a Ponzi scam, is a commodity.  It's like claiming the dollar is a Ponzi scam because Charles Ponzi stole dollars using a Ponzi scam.  Or the dollar is bank robbery because Willie Sutton robbed banks of dollars.  It's insane troll logic.

[Littleshop]

To be fair it doesn't explicitly say that Bitcoin is a ponzi scheme, they state:

"Bitcoin has been called a Ponzi scheme"

Which it obviously has been called by many critics.

I call fiat currency a Ponzi scheme (it is, the biggest ever). Should I add that too?

Social security is, literally, a ponzi scheme.

That statement is just as wrong as calling bitcoin a Ponzi scheme.  SS could fail tomorrow and that would still not make it a Ponzi, it is a TAX.   We had a true Ponzi demonstrated in our community, Pirateat40. 

[jubalix]

As the name of the thread says, folks on Wikipedia think that Bitcoin is a Ponzi scheme and have included him on the list.

http://en.wikipedia.org/wiki/List_of_Ponzi_schemes


Yet another guy who is scared by Bitcoin idea, obviously. I think someone shoul join aricle's talk page and convince people they're wrong.

just list USD as a ponzi scheme

[Bitcoinpro]

everything is a ponzi besides the idealistic cyrpto currency