About bitcoin being called a Ponzi scheme.

[Exister]

Someone had a thread entitled bitcoin

Was starting a discussion on how its hard to believe that people will think bitcoin is a ponzi scheme or so.

It is a reasonable subject to discuss. what is a ponzi scheme and how it relates to bitcoin.

I believe the thread was deleted because of the poor title.

So do these people who suspect that bitcoin is a ponzi have had bad experiences from such schemes?
Are we not hearing accusations of bitcoin being a ponzi scheme from luminaries of the financial sector?

they are being scammed by a ponzi.

debt based fiat currency fits the definition of a ponzi scheme.

Taxes you pay to the government do not go to paying for the government programs. the government borrows that money adding to the debt and the taxes pay off the previous debt at a rate that never keeps up to the accrual of new debt.

This is gaslighting at its best.


By the way since its my first thread to make on the forum i just got here been into crypto for a couple months now its really fascinating!
Hi to everybody.

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[HasHe]

Only some people who don't even have the basic knowledge of what bitcoin is,how bitcoin works would only say bitcoin as a ponzi scheme.Its sad to see that even a member of parliament in india termed bitcoin as a ponzi scheme and requested to ban bitcoin in india.But luckily,the government didn't pay attention to that.Some like putin,russian president term bitcoin even as a pyramid scheme.Whatever terms they use for bitcoin,motto is just to criticize bitcoin and even some like big whales try to just spread FUD.Even nowadays,banking officials have started to term bitcoin as a fraud just like jamie dimon.Whatever people say about bitcoin,just turn a deaf year to them and just invest in bitcoin.

[bncbnc]

Only some people who don't even have the basic knowledge of what bitcoin is,how bitcoin works would only say bitcoin as a ponzi scheme.Its sad to see that even a member of parliament in india termed bitcoin as a ponzi scheme and requested to ban bitcoin in india.But luckily,the government didn't pay attention to that.Some like putin,russian president term bitcoin even as a pyramid scheme.Whatever terms they use for bitcoin,motto is just to criticize bitcoin and even some like big whales try to just spread FUD.Even nowadays,banking officials have started to term bitcoin as a fraud just like jamie dimon.Whatever people say about bitcoin,just turn a deaf year to them and just invest in bitcoin.

That is what i am hearing for the first time. In fact some people have missed the opportunities to trade bitcoin in a low price,  they were not so much sure about bitcoin that it will gain such a good value but now when the see the bitcoin price they are regretting and trying to lower down the price of bitcoin so as that they can get a chance to trade it in a low price, but i think now the investors are wise enough, they know the importance of bitcoin and therefore they are not going to sell bitcoin in panic like condition. In fact now we can see that the price of bitcoin get strong supports whenever there is some panic selling in the market.

[An0nyMoose]

This cannot be because the supply of Bitcoin is limited and people on the network are buying to hold not to sell unlike other alcoins which could most certainly be related to a Ponzi.

[asebaby]

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. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme."
Now let's see if that fits bitcoin:
Does bitcoin have central authority? No.
Does bitcoin pay returns to its investors? No.
Does bitcoin require an ever increasing flow of money to sustain it? No.
Bitcoin is not a Ponzi scheme. It's a true innovation in computer science and solves a well known problem called the Byzantine Generals problem.

[PalindromemordnilaP]

For those who said that bitcoin is a Ponzi scheme, they are just too lazy to do some research, uneducated, and worst - close-minded people. I have read an article by a crypto trader regarding how to convince people about the good news of what bitcoin brings and how these close-minded person responded. It's just a matter of how you introduce bitcoin to them without hurting their egos.

[BrickWall]

It's been called out to be utter lies before. It'll get thrown around no matter what but theres arguments against it.

[w5pn73]

It get's thrown around mostly by people who have missed the boat, and feel negative towards bitcoin because of it.

[Kronos21]

For those who said that bitcoin is a Ponzi scheme, they are just too lazy to do some research, uneducated, and worst - close-minded people. I have read an article by a crypto trader regarding how to convince people about the good news of what bitcoin brings and how these close-minded person responded. It's just a matter of how you introduce bitcoin to them without hurting their egos.

It is impossible to convince people that bitcoin is not a pyramid scheme because there is a common signs of a pyramid and all of them are present in bitcoin. But Fiat is also a pyramid. It's just a pyramid scheme which is managed by the state. In order for the Fiat pyramid did not collapse, the government is pouring into her Fiat and you get inflation.