Bit Coin is a Ponzi Scheme

[h55]

BTC is not punzzy system, BUt large traders can effect on the it's market.

[1714990333]

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[1714990333]

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[Nilda]

Do you even know what a Ponzi Scheme is? Google it, comprehend...then invest all your money in bitcoins!

[mamesso]

Really funny.
if Bitcoin is ponzi then there is no community as big as it is today. and how may various circles accept bitcoin.
because the ponzi system only benefits some people.

[trapp19]

faith/trust based yes, it ain't a ponzi scheme though. Bitcoin is  basically created for the people, by the people who are tired of the trusting the Fiat/Cash that the government manipulates anytime,everytime, whenever, whereever they like.

[emielsb]

faith/trust based yes, it ain't a ponzi scheme though. Bitcoin is  basically created for the people, by the people who are tired of the trusting the Fiat/Cash that the government manipulates anytime,everytime, whenever, whereever they like.

you tell an exciting story about bitcoins to your relatives so they start buying it and you gain value on your coin
isnt that how ponzi went too? tell me what is your real bitocin value ?

[LogitechMouse]

You have some balls to post like that in this forum brother. First of all, USD is a currency and everybody knows that but do you know why USD has been created? Do you know how paper money is created? Its because of one word and that is "TRUST" and that is what we are applying in cryptocurrency. We trust bitcoin so it has value.
I give you +1 for posting this in the forum. Good to have you here. Thanks for saying that bitcoin is a ponzi scheme brother.

[lm2f]

faith/trust based yes, it ain't a ponzi scheme though. Bitcoin is  basically created for the people, by the people who are tired of the trusting the Fiat/Cash that the government manipulates anytime,everytime, whenever, whereever they like.

Bit coin is fiat. It isn't backed by anything.

[zxcv cool]

Bitcoin is a free software project without central management, so no one can make a false statement about the return on investment. Like other major currencies, such as gold, the dollar, the euro, the yen, and so on, bitcoin does not guarantee purchasing power and the exchange rate is freely floating. The resulting volatility makes it impossible for bitcoin holders to predict profits or losses. The fact is that bitcoin is being used by thousands of users and businesses because of its useful and competitive nature.

[Realist247]

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.

Where I live Ponzi schemes are everywhere.  I know several people that recently were able to get out of them with their money plus about 20% profit since I explained how it would end.  It eventually did and several others that didn't listen to me lost everything.

All that one needs to understand is the concept that the OPERATOR is anyone who got into Bitcoin when the price was low.  In this case the OPERATORS are all that are on this thread that either cannot accept it or are lying to either themselves or anyone reading their reasoning...or both.  ALL OF YOU that are facing a profit if you cash out DEPEND on the price going up by the revenue paid in by new investors RATHER than from legitimate BUSINESS ACTIVITIES (i.e. PROFIT from selling goods or service) or PROFIT of financial trading which is basically the same as a form of business activities.  They go on to further break down what or who can be considered an operator...and again, that's ANYONE hyping or otherwise promising returns that are either ABNORMALLY HIGH (describes recent gains in BTC perfectly) or UNUSUALLY CONSISTENT (BTC is one of the most volatile financial instruments outside of pork belly futures...but the price consistently goes up).

I'm amazed that there are so many people out there that can't at least call a spade a spade.

And before anyone attacks me, I'm waiting for the CME to allow myself and people like me to short the crap out of BTC once we see the right moment.  I'm here to study the level of ignorance, stupidity, and greed here so I'll have the best idea of when that golden moment comes about.  Lots of people are going to get burned because they refuse to understand simple or even moderately complex English.

[rjbtc2017]

This is what happens when you don't read enough articles and you have been a gullible to all FUD articles and attacks of other people including the mainstream media and Central Banks' Statements that made your mind completely conditioned and manipulated. You should also consider the money from   other alt coins which backed by a real business who creates profit and the alt coins holder will trade their altcoins to Bitcoin which means there is a real profit moving in and moving out on Bitcoin. This is Bitcoin forum, if you don't like Bitcoin , then don't visit Bitcoin Forums and find another forum that suits your ideology.

[Anniee123]

A ponzi scheme? Do not exist, when they don't understand the currency, a lot of people would say that this is a ponzi scheme, however, it is a very stupid, they don't know what is the block chain, what is the currency.

[HodlingCaulfield]

And the trolls come out.

[Yakamoto]

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.

Ayy lmao. Would you also be saying the same things for a completely digital USD or would that still be something that exists more than only a token in a virtual space?

Welcome to the free market, where people are allowed to choose what has value, contribute to the economy and market in whatever way that they want to, and if they want to use something which only requires electricity and computer chips they're free to do so. They can spend it however and give it whatever value they want to.

And I believe you haven't been thinking about the multitude of reputable brands that do accept Bitcoin on top of other payment systems as well, but someone registered in 2011 should know that.

Are you supportive of a nanny state?

[Scor1937]

A ponzi scheme? Do not exist, when they don't understand the currency, a lot of people would say that this is a ponzi scheme, however, it is a very stupid, they don't know what is the block chain, what is the currency.

Surely we might know the benefits in bitcoins but there are several peoples who are yet unaware in the cryptos world and gradually they think that bitcoins will just rip off their money and give them nothing. We have to change this thinking about bitcoins. There is nothing as much profitable as bitcoins for now, also the price is increasing rapidly day-by-day. Bitcoins will soon reach a good height in future making many of us rich.

[meanwords]

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.

Trolling skill level: amateur

Aw, better luck next time mate. 

[taiwww]

A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers promise to invest your money and generate high returns with little or no risk. And the organisers never pay back the money. Bitcoin is no where a ponzi scheme, its a currency or an investment.  Bitcoin is asking neither money nor promise to pay any percentage of returns. It has its own security system so impossible to break and steal coins from there. Investors have all right when to invest and when to withdraw.

[CryptosapienZA]

It looks like the PO has been FUDing bitcoin since 2013. I am surprised why he still hangs around here. I wouldnt waste another breath on him. He is not here to learn, he is here to hate.

[Rahar02]

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.

May 16th, 2011.
The question is, why did you state bitcoin is a Ponzi scheme?
A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game) 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.
https://en.m.wikipedia.org/wiki/Ponzi_scheme

Do you have bitcoin?
Do you hate bitcoin?
Or you just want to influence people not to buy bitcoin?

Bitcoin gain value due to investors put their money into this environment, bitcoin worth $9000 because people believe it has.
Although bitcoin price fluctuate, there is no loss if people invest in bitcoin, simply because bitcoin value keep growing over time. And there is no end in this technology, bitcoin really have usability which current monetary system doesn't.

[Pursuer]

the number of idiots among us is increasing day by day, with topics like this from someone who either don't even understand what a Ponzi scheme is or he understands it but he thinks if he calls bitcoin Ponzi he can stir up some shit with it. in both cases starter is a big idiot by definition.

now the question is, should we be worried about this situation (increase of idiots among us) or should we be happy about it?
these idiots can be a good source of income. when they panic sell their bitcoins and then buy it back from us at a higher price before they panic sell it again to us under the price they have bought it!

[BillCoin]

I agree that some aspects of ponzi scheme applies to bitcoin, as the people at the bottom of the pyramid are getting profits from the people who joined at the top of the pyrmaid.

But one important Ponzi aspect is missing at the bitcoin netowork, there is not a big organization who manages the funds and can decide where to take the  funds away and apply an exit scam, no one can just close the network, and the network is not promising you advanced profits for referring friends, and no one is going to run away with your money, but the whole bitcoin price is based on how much new people are joining the network.