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Author Topic: The Ponzi scheme argument  (Read 5033 times)
PatrickHarnett
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July 16, 2011, 12:30:28 PM
 #41

I just want to post because I can ask, "so, APPLE is a ponzi scheme?"  They might be one of the worst companies when it comes to treating their customers badly, maybe apple users are masochistic and rich - I don't care as the products look clunky and unfriendly.

More seriously, the issue of dividends in companies is a choice of distribution.  Investors can choose to hold the same relative percentage irrespective of dividends and the dividend rate is driven more by tax efficiency than anything else.  You don;t need dividend income from a share in a company to realize value.

I look to some of the features of currency and Bitcoin has an advantage in low cost international value transfer and that is what I will use it for.  I would also recommend people read the original Ponzi scheme notes for how it worked - a stroke of genius for the time, but pure fraud.  I do not need anyone to value my otherwise worthless bitcoins, similarly, I don't need anyone to value my USD either.
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Meatpile
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July 17, 2011, 02:01:23 AM
 #42

Alot of people are very adamant to call it a ponzi scheme or try to convince others it is not a ponzi scheme. But the fact may be it is a different "scheme" entirely.

I really do love the potential of bitcoin as a currency, but I just can't see how it could transition into that.

And while it remains a gambling game of speculators winning money from other speculators it is definitely a "scheme" of some original kind.
Raoul Duke
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July 17, 2011, 02:06:28 AM
 #43

And while it remains a gambling game of speculators winning money from other speculators it is definitely a "scheme" of some original kind.

You may call it a scheme but i really doubt you can call it an original one Wink
See: The bolded part of your quote!

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July 17, 2011, 02:18:27 AM
 #44

The Ponzi scheme could not be based on other Ponzi scheme platform. We have pyramids based on bitcoins, so, Bitcoin itself is not a pyramid  Wink.
It's commodity.
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July 17, 2011, 02:37:26 AM
 #45

What is a funny-money scheme?

-MarkM-

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July 17, 2011, 03:04:01 AM
 #46

ponzi is not practical these days since you get sued and lose everything.

Are you sure? IANAL, but most schemes involve fraud (Madoff's for example, which btw went on for decades), what would make them illegal even without explicit ban.
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