Bit Coin is a Ponzi Scheme

[pthnmj]

If you think bitcoin is a ponzi scheme,  you either don’t understand cryptocurrencies and the blockchain or you don’t understand ponzi schemes. Some people see Bitcoin as currency, just as they see the USD, EUR and YEN as currency. They use them all for that purpose. Bitcoin is money, nothing more, nothing less.

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[Jamie Oliver]

In the sense of the ponzi scheme, the products people buy and invest in are worthless, but do you think the BTC is something without cost or value? If you think so, then I really can't refute you.

[Indamuck]

Calling Bitcoin a Pnnzi scheme usually stems from jealously of not getting in early enough.  There will always be people that got in earlier than you, so it shouldn't be reason to call something a ponzi.  I'm sure people wish they bought Amazon under 10 dollars a share but it's still a good investment to buy just like bitcoin.

[olyolali]

The Ponzi scheme is an investment fraud activity that pays profit to investors of their own money, or money already paid by the previous investor, and not from the profits earned by each individual running the business. The Ponzi scheme is designed to collapse on the last investor funding when the number of new participants is not enough.

[Amokomowo2005]

No bitcoin is not a ponzi scheme, its a crypto currency, a decentralized blockchain.

[fredo123]

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.

Bitcoin represents a completely level and fair playing field because the economics of adoption and growth cannot be controlled by anyone. It is certainly a lot more durable and trustworthy than governments, Bitcoin is the future of money, Government are recognizing that widespread use of cryptocurrency presents a far bigger opportunity than a threat.

[12tribes]

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.

The simple answer I have got for you is that you study the bitcoin whitepaper and the other meaningful cryptocurrency documents an see for yourself the error you are in. Then you should understand that no scam no matter how foolproof is guaranteed runs for 9years and counting. Consider the scams and ponzi  schemes and even the dotcom bubble and see how long they ever late? It might interest you to know that the banks that want to have a slice of the cake are seriously giving the bitcoin a little more respect and consideration, because it is the currency for the future.

[nikiknowsnothing]

A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors.”

If you have not read the original proposal paper of Satoshi Nakamoto published in late 2008, you should. It’s eight pages long, quite technical, but is not too hard to digest. You’ll notice that never in that paper does it mention any kind of return on an “Investment” in Bitcoin. It never even mentions a price for one Bitcoin.

[Coinworld98]

Bitcoin is not a ponzi scheme. This is a misconception by so many people who believed Bitcoin to be a pyramid scheme like some other platforms that have taken their money away based on certain returns.

[everythingforsale]

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

However, it changed many lives today, and many people are working in blockchain sphere making there money invest things and making there life level increasing, so I'm thinking that bitcoin is eventually positive.

[galambo]

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.

Thats not actually fully correctm Bitcoins are not a ponzo scheme and they too can be much profitable as compared to normal currencies like USD, etc but i guess that they can soon gain some more popularity and legalisation so that it is accepted by the community as a legit mean of payment and then we could see a better future of bitcoins.

[DrGuns4Hands]

Let us try to divert our issues to certain truths. This kind of post usually comes trying to explain reasons about false claims. If Bitcoin is a Ponzi scheme, then Bitcoin will not be still in the market; although its price decreased a lot of sum, still it is not enough reason for us to develop this kind of conclusion. It might just add to the discouragement exposed by other “experts” (Hippocrates) down there. We are not poisoning the minds of people who want to invest, but rather a development of opportunity and help.

If you would ask, where would help be if you lose a sum or even thousands of money in BTC? The answer is simple, stop – stop providing negating information about bitcoin because it will not help. Leave this stuff for risk and opportunist individual.

[ronalsi]

Everybody has different views about Bitcoin, I have some friends who think that bitcoin is a scam, and I can not blame them because my first impression was the same.

[qwerty12]

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.

Some early users have large amounts of bitcoin because they take risks and invest time and resources on unproven technology, which is very similar to investing in the early stages that may provide value as usefulness and popularity or even never become anything. Bitcoin is still at an early stage, and has been designed for long-term goals. It's hard to imagine how Bitcoin benefits the early users, because today's Bitcoin users could be early users in the future, or not.

[coingrowth]

How can you say that, did you find any referral system in it or did you find any product we have to sell to the others. Bitcoin is an investment like share market which will help to make money when the price of Bitcoin increases.

[adejoke444]

Bitcoin is not a ponzi scheme, the reason most call it such its because the price is volatile which makes it changed every moment and that the way ponzi works where you can loose.

[Ankhang2016]

There is something that makes you absolutely trust. No one can give us absolute confidence

[timonig]

No it is not a ponzi scheme. Ponzi scheme requires users to add more users and pays them for this, no such thing with bitcoins.

[Ava Duvall]

If you think bitcoin is a ponzi scheme,  you either don’t understand cryptocurrencies and the blockchain or you don’t understand ponzi schemes. Some people see Bitcoin as currency, just as they see the USD, EUR and YEN as currency. They use them all for that purpose. Bitcoin is money, nothing more, nothing less.

some people look at everything as a ponzi scheme. everyone is trying to trick them and those people don't really understand how crypto works let alone life.

[insculpt]

Whether it's a bubble, a ponzi or whatever you call it, I don't care, the fact of the matter is that it does what I need it to do and costs me way less than fiat would for the same purpose. I can transfer value across oceans in minutes and it costs me a couple of dollars or less. Everything that has value has value because people give it value. Cryptocurrencies are here to stay and there is nothing that you or any like-minded people can do about it. If it was garbage, governments wouldn't be paying the attention that they are paying to crypto right now.