Bit Coin is a Ponzi Scheme

[mekie]

If it is then it's an absolutely brilliant one-which i am sure unlike other ponzi schemes wont fold because it has run out of sucers to take to the cleaners. Perhaps it is perhaps it isn't but at the moment i will stick with it and wait to see what will develop over the next couple of years.   

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[jak3]

Don't know how you manage to get 10 merit points, But it seems like you do not know anything about cryptocurrency. There is no middleman so we do not have to care about anything if nothing goes wrong without money will be fully our responsibility that how we treat the money or whom we sent the money we understand all the consequences and all the risk of managing our own money and not blindly trusting the banks or governments with our money. Bitcoin or any other altcoin is not a Ponzi scheme it was not even meant to be a currency which is it today, people started created it like virtual currency but it is just another digital payment processing system that's all.

[stayeduptolate]

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.

Bitcoin being sustainable since more than a decade and in the year 2009 when bitcoin was introduced it was also called a scam or a bubble that would burst soon as that time also it was indigestible for the people that how could one currency be so beneficial then the very few who believed on it are now the bitcoin billionaires and since then millions of people around the world are now investing into bitcoin but still there are some morons who are still saying bitcoin is a Ponzi scheme and they are the biggest morons.

[RadjorBlade]

You thread so funny, bitcoin is very diffrent with ponzi scheme, ponzi scheme only give profits to early adopter and after 2-3 months even only a months will colaps because they cant pay member anymore. But bitcoin not like that, already exist about 9 years and you still think this is ponzi?? Bitcoin is cryptocurrensy, you must learn about that

Of course there are differences between ponzi schemes and bitcoin currencies. Bitcoin is owned by everyone by buying or mining, and earning a profit from rising bitcoin prices. If the ponzi scheme deceives people with investment enticements but by providing benefits to the old members obtained from the registration of the next member. So it's very different.

[Callanta787]

I'm not surprised you calling bitcoin ponzi scheme ,there are still many like you out there with same mind set ,all you have to ask yourself is 'what is money? & what is bitcoin? What surprised me is you've been around since 2011 and you dont still understand what blockchain is.

[thebabygoose]

Seriously please acknowledge yourself on the situation before making such claims, you obviously don't understand the value of decentralisation and it's application of distributed consensus. This is the core value why Bitcoin is valuable, not because it's a ponzi scheme or scam that is the easy theory that takes little intellect to form. Anyone can speculate but only a very little percentage make the effort to acknowledge.

If you aren't familiar, fiat currency can be created at any point in time without any signification to the subject's that use it. The monetary supply is always growing through money printing that is ongoing everyday of the year, if you look to some economies their currencies are becoming worthless. You may ask why? Hyper-inflation is why.

I hope you are having a nice day and if you read this, please re-evaluate your theory after some appropriate research.

[ClassyDancer]

Bitcoin is definitely not a Ponzi scheme. In mining bitcoin, you are providing service and you get the proposed value in return. When you've acquired bitcoins, there is no promise extended that you can redeem them for any value and there are no dividends paid to those who hold bitcoins.  Ponzi is a fraud, plain and simple.

[sinkfish]

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.

so much of FUD here. maybe you should try to understand what is bitcoin and it altcoin.

it is true there are large number of shitcoin and scam coin. but it doesnt mean all are.

[shekt4]

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.

Lol...you are funny friend...money(fiat) is what it is today because we they people choses to accept it...fiat or money as you may know it is just a function of the faith we have in it...infact is even a bigger Ponzi Scheme!...something of value is supposed to be in limited supply...any day and any time, the US government and federal reserve can decide to print more money hence bringing down the value of it...bitcoin and crypto are different....they are all in limited supply!

[Snowflower11]

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.

You want to get attention or you're a fool? You say that bitcoin is a Ponzi scheme, showing your very narrow understanding. Did you know that in the world there are countries that view Bitcoin as a salvation to their economy. For example Venezuela.

[Ayomiqueen]

I don't think you are still in this world and have this opportunity to make it in life but resist to join the moving glory and looking back to your account I can see you have great opportunity to have enough Bitcoin back then in 2011 that you joined this forum and be a rich person but cause of your sarcastic reaction you are missing it out and $100 then as a risk to test it would have turn you to millionaire in $ and sure you will rethink one day that you have missed agreat opportunity but it never too late to join.

[Ezenwanyi]

I think most of those saying. That Bitcoin is a Ponzi scheme have little or no knowledge about the potentials of Bitcoin and how it works.
Usually, I 'm not one to take this set of people serious because taking them serious and trying to educate them about Bitcoin can induce migraine.

[onrise]

I think most of those saying. That Bitcoin is a Ponzi scheme have little or no knowledge about the potentials of Bitcoin and how it works.
Usually, I 'm not one to take this set of people serious because taking them serious and trying to educate them about Bitcoin can induce migraine.

Their are people who do not have the true potential of it and just they only see the price drop form the high of 18k and feel it is a ponzi scheme as due to which price has fallen. But do not pay much attention to those guys and keep buying on the dips as market will recover and give you a good return.

[Koenraad Lange]

I'm not surprised you calling bitcoin ponzi scheme ,there are still many like you out there with same mind set ,all you have to ask yourself is 'what is money? & what is bitcoin? What surprised me is you've been around since 2011 and you dont still understand what blockchain is.

Bitcoin and ponzi schemes are very different, ponzi schemes have an element of fraud because money to pay profits is taken from the next registrant. When no one else registers, the ponzi scheme will collapse. Whereas in bitcoin to get profit is from the difference in selling price minus the purchase price. So everything is open.

[pixelvault]

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.

lol what?
am i tasting salt in the air?

[seoincorporation]

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

That’s so true. this is bitcoin forum, i don't understand why that person could post some bad words about bitcoin here.

I agree with you guys, this is the bitcoin forum and isn't cool to see bad comments about bitcoin, but at the end is a forum where users have speech freedom, and that create some nice discussions, would be really boring if all of the users here think by the same way.

So, if you don't like how a user thinks then share with him your point of view and let him talk as the way he wants.

[bitfocus]

Please don't take my comment rude, I am not being rude, but you really need to shake your brain, give yourself a kick and try to know about Blockchain and Cryptocurency in a proper way.

[karanggatak]

I think you are jealous of people who have long joined bitcoin, and you say bitcoin is a ponzi scheme. Your thinking is very superficial, you should know that not everyone who has long joined Bitcoin makes a big profit. If indeed they get big profits, maybe because they are lucky. and you should know that you can also use bitcoin to search early. If you say it is a ponzi bitcoin scheme, maybe no one will be interested. Because the Ponzi scheme the farmers will definitely be harmed. Try to think more clearly, and don't be jealous of others. You can still get results from bitcoin, if you really want to work and take advantage of market conditions to trade.

[kissme09]

In all economic sectors use the Ponzi scheme to build their system. As major banks in the world also use Ponzi variants for making their banking system. Do not worry because Ponzi is a system that allows risk takers to find their own.

[Tipsters]

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.

You just make yourself an enemy of this forum especially this subforum. So where does your bias lie in this space? I'm just wondering. Majority of the people here in crypto though think btc is lagging in technological advancement, you have to respect the first mover of this advocacy. If you just believe in your theory or just want to make a point just have some proofs.