♨♨♨ Is Bitcoin A Giant Ponzi Scheme?♨♨♨

[Realist247]

You're a lot dumber than I even thought you guys are.

This is pure strategie from govs and banksters. They hate the fact they cannot get this under their control and earn money from it.
The value in bitcoin is in the fact that it is and remains a store of value and cannot be taxed. A lot of richer people that bought in did it for this reason. The top 1% will not trade to fiat anytime soon because they know they will get taxed. They will wait untill companies and so fort will start to trade in bitcoin. After that the only thing the govs can do is try to forbid to use it as a currency, but the store of value will remain.

BTW : the fact we didn't hear you guys when it was going up and up, explains it all to well. You're just capitalizing on a small downward correction in the hope that more will follow and you can get bitcoin as low as possible.
Only the stupid will follow.

Ok...if you say so     Notice how the well-crafted Ponzi attracts the lesser intelligent among us that fight for it with a fervor greater than religion.

You're right about one thing...they do hate it and will eventually control it...or a future form of it. 

You obviously weren't around in the beginning.  It was intended to be a currency...not a store of wealth.  No one on the early dev team talked like people do today.

Just because you didn't hear from me doesn't mean I wasn't following it.  I only showed up when I saw it morph into the bastardization of its original intended purpose and there was a reason for me to say something now that the only thing that drives it is greed and stupidity...that you clearly have no personal moral issue against following and shilling.

[Stingray1970]

I will make my own analysis thank you.

Bitcoin is intended to be a currency, correct, but with a comparison to a gold backed currency. So it is a store of value just as gold is. It's not because some of the bigger holders of gold reserve try to manipulate it that it still isn't.

Succes with whatever you choose, but I remain positive.

[SamsungBitcoin]

Is Bitcoin a giant Ponzi Scheme?

I guess you are fairly new to bitcoin and you find bitcoin as a ponzi scheme, ponzi tends to scam people its investor promising large profit when you invest.
Bitcoin is not owned by a company nor a person, yes it will give you large profit when you invest, the only way you lose money is that if you are not a good trader.

Most people that will admit that BTC is a form of Ponzi scheme are NOT new to it.  In fact some that I know studied the code and are thinking of doing their own version someday.  This "you must be new" argument is not only silly but it's backwards.  With time/age comes wisdom.  With youth comes naiveté.

What are your serious mate? Your rank is not a newbie mate i think you know what is bitcoin. This is a currency and not a company who offer PONZI scheme, this is a legit digital currency no one controlling it.

I will make my own analysis thank you.

Bitcoin is intended to be a currency, correct, but with a comparison to a gold backed currency. So it is a store of value just as gold is. It's not because some of the bigger holders of gold reserve try to manipulate it that it still isn't.

Succes with whatever you choose, but I remain positive.

I am agree with you mate, digital currency is like other currency that we can spend anywhere the only different is we can not used bitcoin in offline transaction yet but bitcoin now has many uses you can invest in PONZI (avoid this), investing in other kind of investment but it was pure online. Yes be positive to this currency and your life will change to better in the future.

[bitfools]

You're a lot dumber than I even thought you guys are.

This is pure strategie from govs and banksters. They hate the fact they cannot get this under their control and earn money from it.
The value in bitcoin is in the fact that it is and remains a store of value and cannot be taxed. A lot of richer people that bought in did it for this reason. The top 1% will not trade to fiat anytime soon because they know they will get taxed. They will wait untill companies and so fort will start to trade in bitcoin. After that the only thing the govs can do is try to forbid to use it as a currency, but the store of value will remain.

BTW : the fact we didn't hear you guys when it was going up and up, explains it all to well. You're just capitalizing on a small downward correction in the hope that more will follow and you can get bitcoin as low as possible.
Only the stupid will follow.

Ok...if you say so     Notice how the well-crafted Ponzi attracts the lesser intelligent among us that fight for it with a fervor greater than religion.

You're right about one thing...they do hate it and will eventually control it...or a future form of it. 

You obviously weren't around in the beginning.  It was intended to be a currency...not a store of wealth.  No one on the early dev team talked like people do today.

Just because you didn't hear from me doesn't mean I wasn't following it.  I only showed up when I saw it morph into the bastardization of its original intended purpose and there was a reason for me to say something now that the only thing that drives it is greed and stupidity...that you clearly have no personal moral issue against following and shilling.

U Notice that too? ehh?

What I see on this forum is ZERO percent interest in technology, or programming, zero interest in morality, zero interest in philosophy, zero interest in anarchism,

It's like the entire BTC eco-system is just driven by moronic day-traders, most likely not even human, but bots that are designed, to keep fresh blood entering the btc-ponzi ( I hate that term, its a south-sea bubble )


The only common interest on the forum is reducing the fee's for day trading btc.

[Realist247]

Is Bitcoin a giant Ponzi Scheme?

I guess you are fairly new to bitcoin and you find bitcoin as a ponzi scheme, ponzi tends to scam people its investor promising large profit when you invest.
Bitcoin is not owned by a company nor a person, yes it will give you large profit when you invest, the only way you lose money is that if you are not a good trader.

Most people that will admit that BTC is a form of Ponzi scheme are NOT new to it.  In fact some that I know studied the code and are thinking of doing their own version someday.  This "you must be new" argument is not only silly but it's backwards.  With time/age comes wisdom.  With youth comes naiveté.

What are your serious mate? Your rank is not a newbie mate i think you know what is bitcoin. This is a currency and not a company who offer PONZI scheme, this is a legit digital currency no one controlling it.

I will make my own analysis thank you.

Bitcoin is intended to be a currency, correct, but with a comparison to a gold backed currency. So it is a store of value just as gold is. It's not because some of the bigger holders of gold reserve try to manipulate it that it still isn't.

Succes with whatever you choose, but I remain positive.

I am agree with you mate, digital currency is like other currency that we can spend anywhere the only different is we can not used bitcoin in offline transaction yet but bitcoin now has many uses you can invest in PONZI (avoid this), investing in other kind of investment but it was pure online. Yes be positive to this currency and your life will change to better in the future.

Go back and read the 1st page...everything I wrote before you address me and talk to me like I'm a moron.  No, no you didn't...it's like I can hear your bullshit already gurgling in your mind.  You people are unreal in your assumptions.

[bitfools]

What are your serious mate? Your rank is not a newbie mate i think you know what is bitcoin. This is a currency and not a company who offer PONZI scheme, this is a legit digital currency no one controlling it.


Seriously, 100 ppl control 80%  of BTC, U think they don't work together? U think they weren't commonly involved since begin, u think they don't collude on pump&dump of price?

One company controls most mining, a dozen companys control the exchanges, which are just GOV tax fronts

Now GOLDman-Sachs will control the price in london with the new CME

Keep telling your self that this BTC is crypto-anarchy, that Satoshi was not really a ZOG NSA icon all along,...

[bitfools]

You're just an a$$hole trying to talk it down.

You should read up on bitcoin and why and how it came into existance before uttering such crap.

The top 10 or even top 1% of people that hold bitcoin aren't going to sell. So even if you get some correction, this is never going to be long term. And all the smart ones here only invested money they can afford to loose.

BTW : are you a member of the govs or banksters ?

I've read the white paper.  I've listened to countless hours of the original developers explain it years ago.

LOL - the top 10 or top 1% aren't going to sell?  Wow you are greedy SOB aren't you?  LOL  Jack Ma recently said something to the effect that anyone with more than $10 million is asking for trouble and problems to plague them for life.  Don't make the mistake of thinking that everyone shares such an extreme level of greed.

Working for gov or banks?  That's funny since they won't warn you on such a personal level.  I wish I got something for killing time.

Good arguments, but U know your blowing in the wind with these ppl on this forum, the average holder of BTC has 0.05 btcs, thus they haven't a clue about how a real millionaire thinks,

Certainly Jack Ma knows the situation, anybody that has +$1M will be a target his entire life, the BTC is a public ledger, which means every criminal or gov on earth knows they can kidnap U, since dawn of man, humans hid their wealth, they kept valuables out of site, ... they didn't display to gov tax collector their net-worth, then along comes BTC which is a public-ledger for all to see,

Great idea, the rich know, and its only matter of time before all addresses are linked to real-id, and resold, just like everything else, its all high value, to anybody that wants to screw 'rich ppl'

MY biggest complaint about BTC is lack of anonymity, and nobody cares cuz they only care about 'getting rich'.

[jseverson]

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 through legitimate sources


Is Bitcoin a giant Ponzi Scheme?

You can't even call Bitcoin a ponzi scheme from your definition alone. Bitcoin isn't run by any operators or organizations, and while everyone does benefit from more investments, no single entity can control where it goes. Bitcoin cannot even be categorized as a scam, because no one is fooling anyone, and there are no inner workings that result in people's money being stolen. It's an investment whose control rests on its holders' collective shoulders.

Really, if anyone calls Bitcoin a ponzi, they don't know what they're talking about.

[bitfools]

You can't even call Bitcoin a ponzi scheme from your definition alone. Bitcoin isn't run by any operators or organizations, and while everyone does benefit from more investments, no single entity can control where it goes. Bitcoin cannot even be categorized as a scam, because no one is fooling anyone, and there are no inner workings that result in people's money being stolen. It's an investment whose control rests on its holders' collective shoulders.

Really, if anyone calls Bitcoin a ponzi, they don't know what they're talking about.

BITCOIN is a software, PONZI was a person, so U can't even compare apples&oranges here.

PONZI misdirected the use of postal stamps, but nobody calls for the banning of stamps.

1,000's of assholes, maybe 10's of 1,000's of shills are pumping BITCOIN and trying to convince NEWBS to buy BTC with their credit card,

BITCOIN is not a PONZI, but all the exchanges, and mining-pools, all the infrastructure of BTC is ran by common criminals.

[Realist247]

What are your serious mate? Your rank is not a newbie mate i think you know what is bitcoin. This is a currency and not a company who offer PONZI scheme, this is a legit digital currency no one controlling it.

It's a Ponzi because it was created by an individual (as the story goes) and then further developed by a group.  Those that got in on it early were able to pre-mine hundreds of thousands if not millions of coins.  Day 0 was when they said so...and so the timeline began.  No one back then was keeping score.  At this point they let it self-regulate and grow slowly.  Those that had easy access to such a large volume of coins knew that if they promoted the concept on Libertarian podcasts and forums they would wind up with a self-perpetuating Ponzi scheme.  They couldn't care less at this point (2009-2011) what happened to the remaining coins that could be earned by mining and then sold P2P or on exchanges.  All that mattered to them then as it does now (those that haven't cashed out) is that each coin is its own store of value.  It doesn't produce any goods, service, or function other than it being declared worth what people are willing to pay for it...and payment can be in literally any form, but ideally, more to a new buyer than it did to the seller that bought or mined it in the first place.

What you fail to see is the sheer genius of the founders.  They did a "hit and run".  They built a system that became self-perpetuating by Libertarians with a vision of government free money.  They built a system that everyone was asking for at the time but few people could describe how it would or could work.  And once it was built and they got their "cut", it took on a life of its own when people decided it was worth something tangible.

It's so simple it's painful for me to try and explain it since I only end up overexplaining and more or less repeating myself.

But all that matters is that a group of people spent a lot of time and money building the perfect hamster wheel.  All it took from that point on was the hamsters of the world to find it and declare it something to covet and spend their time on.  No one seems to mind that millions of coins from the beginning cannot be accounted for.  We're talking billions of dollars to build the ultimate automated Ponzi.  These people thought of practically everything.  What they didn't think of they knew wouldn't be an issue for many years...like it is becoming an issue now.  But again, they made their money and are long gone.  One is even the subject of legend....Satoshi.

Isn't everyone saying that automation is the future?  Well in some ways it's already here.

[Realist247]

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 through legitimate sources


Is Bitcoin a giant Ponzi Scheme?

You can't even call Bitcoin a ponzi scheme from your definition alone. Bitcoin isn't run by any operators or organizations, and while everyone does benefit from more investments, no single entity can control where it goes. Bitcoin cannot even be categorized as a scam, because no one is fooling anyone, and there are no inner workings that result in people's money being stolen. It's an investment whose control rests on its holders' collective shoulders.

Really, if anyone calls Bitcoin a ponzi, they don't know what they're talking about.

Whenever an individual coin is sold, it PAYS RETURNS to its investors from NEW CAPITAL PAID to REVALUE the coin (created by the operators and released onto the world long ago...in short, the COIN becomes its own automated operator!) by NEW INVESTORS....rather than profit earned (BTC doesn't EARN or PRODUCE ANYTHING) through legitimate sources.

You are incorrect.  If we can dissect the definition of a Ponzi scheme word for word or even close to it so that it matches the underlying template of the system and apply it to BTC we have completed the logical proof.

You and everyone that stomps their foot and insists that they are correct without making an effort to prove their assertions are the ones that don't know what you are talking about...since you can't PROVE it in any convincing manner whatsoever other than your group think or pointing to people you believe to be smarter than you as authorities...that offer no proofs either.

I will prove every word that I say.  Why won't you....or everyone else like you?

[noormcs5]

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 through legitimate sources


Is Bitcoin a giant Ponzi Scheme?

Bitcoin is not a ponzi scheme, no doubt about it, although some people presents it in such a way..Bitcoin is a simple digital currency which is being manipulated by big investors to move the price up and down in their favor and the common man just cannot predict what will be its future and price in the coming days. 

[Realist247]

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 through legitimate sources


Is Bitcoin a giant Ponzi Scheme?

Bitcoin is not a ponzi scheme, no doubt about it, although some people presents it in such a way..Bitcoin is a simple digital currency which is being manipulated by big investors to move the price up and down in their favor and the common man just cannot predict what will be its future and price in the coming days. 

Here's proof that forum rank and status mean nothing when it comes to reading comprehension.  Why do you post if you don't even bother to read this thread seeing as how you are absolutely clueless as to the arguments put forth that I am POSITIVE that you cannot disprove using logic, reason, and common sense.

[Dudeperfect]

Nope, the basic intention of the Ponzi scheme is to scam others and when it comes to Bitcoin, it was invented in order to solve the real world problems. Even the unknown founder is not taking any benefit of the price rallies and I don't think that Bitcoin has anything to do with the Ponzi scheme. However, I can pinpoint 1000 scams that are taking place under the name of Bitcoin and the real reason for it is the unawareness of Bitcoin and cryptocurrencies.

[Realist247]

Nope, the basic intention of the Ponzi scheme is to scam others and when it comes to Bitcoin, it was invented in order to solve the real world problems. Even the unknown founder is not taking any benefit of the price rallies and I don't think that Bitcoin has anything to do with the Ponzi scheme. However, I can pinpoint 1000 scams that are taking place under the name of Bitcoin and the real reason for it is the unawareness of Bitcoin and cryptocurrencies.

Did you back read my proofs on BTC being a Ponzi scheme at the most fundamental level?  Define "scam" relative to what I posted.  It may very well lead to real world solutions to real world problems, but many people positioned themselves to become obscenely rich and completely unaccountable for their creation after the fact.  You cannot possibly know the extent of who benefitted and who did not since a large % of coins cannot be accounted for.  Ponzi schemes that rely on BTC is a distraction and not the topic of this thread.

[bitfools]

Nope, the basic intention of the Ponzi scheme is to scam others and when it comes to Bitcoin, it was invented in order to solve the real world problems. Even the unknown founder is not taking any benefit of the price rallies and I don't think that Bitcoin has anything to do with the Ponzi scheme. However, I can pinpoint 1000 scams that are taking place under the name of Bitcoin and the real reason for it is the unawareness of Bitcoin and cryptocurrencies.

The day will come that 'bitcoin' will have negative connotations, today to me it means software I 'git' from github.com, to other's it means a magic key they with their credit card,

Ponzi was a man that sold stamps and promised 100% ROI per month, if you held the stamps (HODL)

Much of BITCOIN today is religious just like Scientology, its all MLM marketing ( bounty ), the entire infrastructure of BTC is fraud, but tell them so, and its like telling a Scientologist that L Ron Hubbard was CIA.

[bitfools]

Nope, the basic intention of the Ponzi scheme is to scam others and when it comes to Bitcoin, it was invented in order to solve the real world problems. Even the unknown founder is not taking any benefit of the price rallies and I don't think that Bitcoin has anything to do with the Ponzi scheme. However, I can pinpoint 1000 scams that are taking place under the name of Bitcoin and the real reason for it is the unawareness of Bitcoin and cryptocurrencies.

Did you back read my proofs on BTC being a Ponzi scheme at the most fundamental level?  Define "scam" relative to what I posted.  It may very well lead to real world solutions to real world problems, but many people positioned themselves to become obscenely rich and completely unaccountable for their creation after the fact.  You cannot possibly know the extent of who benefitted and who did not since a large % of coins cannot be accounted for.  Ponzi schemes that rely on BTC is a distraction and not the topic of this thread.

The PERFECT scam, because nobody can be held accountable, there can be no PONZI=SATOSHI, because in all likelihood he never existed

What is known is that since 2010 BTC has been an orchestrated SCAM, a RICO investigation will be called for, once the pain of loss of millions of people all over the world demand a hearing and bring the BTC billionaires to court.

[BingoDog]

I can't disagree more, bitcoin is not a ponzi scheeme. This is just another thread on that same theme that was discussed so many times before.
I think that such theories without any solid ground and proof are spreading people who don't know anything how the bitcoin is functioning and haven't succeeded in bitcoin and instead of profit accumulated losses so this is some kind of their revenge. Bitcoin is present for many years now and it's been proved many times that is legit, it's not involved in any kind of scam as a project, only those run by individuals but everything in this world could be misused and so bitcoin too.

[Realist247]

I can't disagree more, bitcoin is not a ponzi scheeme. This is just another thread on that same theme that was discussed so many times before.
I think that such theories without any solid ground and proof are spreading people who don't know anything how the bitcoin is functioning and haven't succeeded in bitcoin and instead of profit accumulated losses so this is some kind of their revenge. Bitcoin is present for many years now and it's been proved many times that is legit, it's not involved in any kind of scam as a project, only those run by individuals but everything in this world could be misused and so bitcoin too.

Yet another lazy shill that is incapable of back reading this thread seeing that, NO, this hasn't been discussed before in the way that it's presented here because if it was, you'd have at least an iota of substance and/or a rebuttal other than blanket denial and flimsy excuses why you refuse to think for yourself.  Assumers give me tumors.

[ShortCoins]

Bitcoin is a Ponzi Scheme.

1000 people control 50% of it.

In October 2010 Bitcoin was $0.06 look it up. Or check out April 2010 when bitcoin was $0.003. Yes the same coins you are buying for over $15,000 each were less than a penny 7 years ago. Is that realistic at all? Of course not. The price is so impractical

The artificial run up has been fueled by crime, tax evasion, drug deals, money laundering, illegal gambling, prostitution, corrupt governments, as well as a vulnerable pool of investors that include millennials and people in third world countries.

Crypto itself is really cool. And the future of money. But unfortunately bitcoin and altcoins are a giant scheme. In my honest opinion now is a great time to cash out and get ready to bet on the downfall.