Bit Coin is a Ponzi Scheme

[lm2f]

Bit coin is a Ponzi scheme. Don't listen to the bit coin shills on here. The newcomers buying into bit coin and driving up the price are just making the early adopters richer.

That's how stupid people are. A sucker is born every minute. But YOU don't have to be one like all the other bit coiners.

The USD is a valid currency because people are required by law to recognize it's value. It has value because the most powerful superpower on the face of the Earth uses it and backs it.

Where does bit coin get its value from? Some computer nerds living in their mothers' basements and Chinese speculators who say it has value? The few online drug dealers who accept it?

If you can't figure out that buying into a totally faith-based economy, with no regulation whatsoever, of a imaginary currency that only exists virtually, through a broker that has no compelling reason to give you any of your money back other than possible negative word-of-mouth, is a bad idea, then maybe you should really consider spending less time speculating on BTC and more time getting remedial education.

[1NV3ST0NM3]

Your so called most powerful superpower is already facing challenges from all around the world. Moreover if they are such a powerful country why have they not been able to stop any such currency from growing. Bitcoin has grow quite a times I don't think Donald trump is that stupid that he hasn't really noticed such thing? Trust me no backing is going to do anything when people feel themselves insecure in their own country. Bitcoin is the way they are trying to find some freedom.

[PrimeBlackBelt]

about 10 million people disagree with you bub. Besides, this is a bitcoin forum. Don't post that crap here.

[LeGaulois]

So, why to invent a system using cryptography, and create the blockchain technology just to run a Ponzi.... While you can, for example,  just run HYIP site within 1 hour and make more money with less effort.
Bernard Madoff used just a pen and paper and a few dinners at the restaurant and his Ponzi scheme was about million dollars.

The fact that some "super powers" use the dollar doesn't make it valuable
By the way, from what is backed the dollar? Ahhh, from the debt from US citizens and the FED printing money like the cash cows ?

[digaran]

Why would we back USD which is a currency of a superpower on the face of the earth? that's right, we back it for you to have more money to jump more girls*, now that have a lol. we are willingly helping the early adopters to get rich, emperor Wu deserves to be the emperor. what the fack did US government do for any body other than spending billions of billions to build an army just to invade other countries to jump their girls and take their resources to save for more jumping in the future? now it's our time to jump, for so many years they didn't share, not even the ugliest girls at least to jump once.
*real girls, you could replace the other girls with other things.

[GreatOrchid]

You are completely wrong with that, if you are jealous because you dont even have a bitcoin on your wallet, it is not our fault.
Why are you complaining? Is it because you did not earned enough money by working 10 hours a day in your country? Or is it because you dont even have money to invest in here
I have read a lot of fud like this on the forum, but a ponzi scheme? Do you know what a really ponzi scheme is? i think that you dont.

I would not even bother myself into reply this thread because it a troll , it is obviously a troll..

[pixie85]

Bit coin is a Ponzi scheme.

You are so limited in your knowledge of Bitcoin that you can't even write the name right. What a weak attempt at trolling.
For it to be a ponzi scheme there has to be a person that is taking all the profits and making others invest by advertising and making false promises just like Ponzi and his followers like Madoff did.

[lm2f]

if you are jealous because you dont even have a bitcoin on your wallet, it is not our fault.

lmfao, check my registration date, kiddo.

[g4vinshreds]

So you're saying *on bitcoin forum* that bitcoin is a ponzi scheme?  Get out of here man.  Bitcoin is a currency,  not a ponzi scheme.  Sure it may go up when it's bought and go down when it's sold,  but fiat currency does this as well.

[coinycoiny]

its a pile of poo and will never be a real currency but its not a ponzi. Although its behaving like one and the last ones caught a the top will lose everything.

[lm2f]

Bitcoin is a currency,  not a ponzi scheme. 

Bitcoin lacks the fundamental qualities of a proper currency. Any "currency" that requires the user pay 20 dollars per transaction is a complete and utter failure. People use bitcoin not because they use it in day to day transactions, but because they think it will make them rich. Like the tulip mania back in the day.

[e-coinomist]

I have read a lot of fud like this on the forum, but a ponzi scheme? Do you know what a really ponzi scheme is? i think that you dont.

I would not even bother myself into reply this thread because it a troll , it is obviously a troll..

They are abvious on their patterns, always the same "Some computer nerds living in their mothers' basements"
Just a reminder since Madoff got associated. The Madoff's did not lived in mom's basement.

A ponzi by definition sucks investors in, but doesn't allow anybody to exit early. And they are of a rather limited size.
Bitcoin is all over the world and if you wanna leave, just checkout.

[uslfd]

Well, in a way, every currency is a ponzi scheme in your sense. we just use USD because we trust. Once we lose trust, a USD note will be completely useless.Countries can fall apart, currency can lose value, politicians can lose power. A ponzi scheme supported by military power lasts longer (i.e. fiat) but it will NOT last forever.

[MinarchistCoin]

From Wikipedia........"A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game)[1] is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. Operators of Ponzi schemes can be either individuals or corporations, and grab the attention of new investors by offering short-term returns that are either abnormally high or unusually consistent."


Operator? Who is that?

Who offered you anything?

Definitions are fun. Delete your account.

[xuan87]

Thank you for your opinion, but you should learn more about Bitcoin

Bitcoin is a currency that being used for global transaction, it's just like usual currency and also can be act like investment like gold, I don't know how can you consider Bitcoin is a ponzi and I don't understand from which point of view you declare Bitcoin as a ponzi

And if you don't like Bitcoin you can just go up stash your USD and investing in USD, nobody force you to use bitcoin

[NavI_027]

You are already a Member in this forum so it's supposed that you must already know some facts about btc, but you're not. First of all, bitcoin is a cryptocurrency and not totally made for Ponzi scheme. If this really made for such scam, then why there are people who came here with nothing and go back with something? Why I'm earning here? Therefore, bitcoin was not a total scam yet it helps us to make a living.

Maybe the reason why you said those bad things is because you are once scammed by HYIPS out there. Anyway, it doesn't matter what kind of reason you have for saying these things, more important is you should stop saying bad things about btc but if you can't take it any longer then get out of it.

[liangweicha]

Since you have become a member of this forum, you have not really learned bitcoin it? Only to say that he is a Ponzi scam such words, I feel sad for you. . You should know more about Bitcoin what is it?

[cpfreeplz]

I am not required by law to think that USD is worth anything. Hahahaha. What the hell? This isn't a very good attempt Mr. Banker sir. Maybe ask your boss what you should be saying because this won't work.

Also, I just withdrew. How many ponzis can you withdraw from? Omg. Did you even google ponzi before you posted this? Do you even know how they work!? I already know you don't. So funny. So stupid.

Good luck Mr banker shill! Your job is obsolete!!!!

[BrewMaster]

tell that to one of the most technologically advanced countries in the word Japan. they adopted bitcoin as a currency.

while you are at it call up one of the biggest companies in the whole world Microsoft, they are accepting bitcoin as a payment.

if you had any time left and your mind wasn't blown call the approximately 1,500,000 merchants that are currently accepting bitcoin as payment.

all of the above would love a good laugh, so do call them....

if you are jealous because you dont even have a bitcoin on your wallet, it is not our fault.

lmfao, check my registration date, kiddo.

either hacked account or kwukduck brother

[Vaskiy]

What Op has mentioned might be true because he's not talking about the popular bitcoin, he has mentioned about a new coin named bit coin. So that might be his own creation, so he has the ability to manipulate and for those reasons it might have got termed to be a ponzi.