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Author Topic: Why do people promote Bitcoin using Ponzi scheme techniques?  (Read 61 times)
kravchenkopo
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February 27, 2018, 07:31:31 PM
 #1

Community is having issues with explaining why Bitcoin/blockchain is needed. I summarized some thoughts about what is wrong with the approach of promoting Bitcoin as an investment.

https://medium.com/@pavelkravchenko/bitcoin-showed-a-new-way-for-society-to-interact-but-something-went-wrong-3fdf5daa771d
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justin86
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February 27, 2018, 08:41:57 PM
 #2

Because they don't know anything about bitcoin or blockchain, while you use them to only be rich how can and in which ways you can promote them to other people? They are not interested in promotin bitcoin as it has good tech  Smiley

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February 27, 2018, 09:13:41 PM
 #3

Community is having issues with explaining why Bitcoin/blockchain is needed. I summarized some thoughts about what is wrong with the approach of promoting Bitcoin as an investment.

https://medium.com/@pavelkravchenko/bitcoin-showed-a-new-way-for-society-to-interact-but-something-went-wrong-3fdf5daa771d
Because this is the easiest way of convincing people to join. Promising them a huge profit out of a small investment they will make. They are enticing the innocent by offering lies and later on only them that will benefit. Because mostly are greedy and assholes just want to take advantage of people’s hard earned money.

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February 27, 2018, 09:28:05 PM
 #4

The promotion of bitcoin is mostly geared to the people that are joining in on the bitcoin revolution. Many years ago it was not for the promise of riches but for the promise of a better way and a great new technology that could change the way as we know it. As those people started to tell tails of their financial successes it attracted more people who are motivated by money than motivated by change. These people are now the ones telling their stories and they're only attracting more and more people who are motivated by greed and nothing more. It's important that as a community we remember why bitcoin is a success and remember to remind others of this or bitcoin will be lost and become nothing more than the ponzi schemes you speak of.
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February 27, 2018, 10:42:03 PM
 #5

Community is having issues with explaining why Bitcoin/blockchain is needed. I summarized some thoughts about what is wrong with the approach of promoting Bitcoin as an investment.

https://medium.com/@pavelkravchenko/bitcoin-showed-a-new-way-for-society-to-interact-but-something-went-wrong-3fdf5daa771d
because for them that's the easiest way to attract people and to earn huge amount of money. That's their strategy because they know that some people doesn't have the knowledge about bitcoin so they took advantage by using ponzi scheme.

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February 28, 2018, 03:17:10 AM
 #6

Because may be in my opinion, with Bitcoin investment ponzi scheme will be more controversial again, and if a system offers a return of one percent per day then maybe it's ponzi, on the other hand this is the main coins that exist only in the digital market. One more thing is more important and needs to use like blockchain. Calculation of Token, bitconnect may be more up or down in the market, analyze this scheme, you can see the motive is dubious or promising.
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February 28, 2018, 03:23:47 AM
 #7

Unfortunately, like it or not, many people are money driven. It'd be difficult to find people who are less money driven into the market. Afterall, cryptocurrency is money.
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February 28, 2018, 03:38:05 AM
 #8

Community is having issues with explaining why Bitcoin/blockchain is needed. I summarized some thoughts about what is wrong with the approach of promoting Bitcoin as an investment.

https://medium.com/@pavelkravchenko/bitcoin-showed-a-new-way-for-society-to-interact-but-something-went-wrong-3fdf5daa771d

Well they take advantage of bitcoin/blockchain technology. And those noobs really think that bitcoin is a get rich scheme. And when they found some enticing news that they think will bring out money for them, they shelled out their hard earn money and thinks that it has the potential to double. Unfortunately, they have to learn it the expensive way. There are no shortcuts in making money here.

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February 28, 2018, 03:50:19 AM
 #9

Community is having issues with explaining why Bitcoin/blockchain is needed. I summarized some thoughts about what is wrong with the approach of promoting Bitcoin as an investment.

https://medium.com/@pavelkravchenko/bitcoin-showed-a-new-way-for-society-to-interact-but-something-went-wrong-3fdf5daa771d

Nicely arranged blog, one clap for that. Well your analysis seems reasonable and you have given conclusion for each theory you have put forth. Its true that over the course of time things have gone wild really and this all the output of we people! We always manipulated how bitcoin looks like and thus course of history was changed dramatically. Like the technical use you talking about, we should have been promoting bitcoin as artwork of technology but what people and mostly government came to know that bitcoin can be used as black market currency, it is scam in many countries, and it can be used in the money laundering. Obviously if there are more negative sides of it (which are not) are being publicised then thats where everything is going wrong.



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Kingofbitcoin12345
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February 28, 2018, 03:53:18 AM
 #10

Interestingly true and worth the read.


Most investment platform has or been used the same as bitcoin/altcoin to abuse new users that most reason are desperation or selfishness.. Its an issue now and pointing badly on Blockchain as it is a new one,, schemes like in networking or stock markets are long been polluted with this kinds of individuals..

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February 28, 2018, 03:54:08 AM
Merited by Hydrogen (1)
 #11

25% of black market transactions in Bitcoin, $44,000, that's an interesting figure.

Quote
Instead of getting on and creating actual value, people are being talked into taking part in a zero sum game.

I do agree, speculation is a zero sum game. Buy the dip/HODL/If you had bought back in 2013, how they are ponzi techniques, more like market strategies or market sentiments either driven by emotions or fundamentals. These terms are common in crypto community, I wouldn't say really a means of promotion, but simply the market participants expressing themselves, not enforcing it on anybody and if a new crypto investor enters the market on FOMO, without understanding the fundamentals and blindly takes up a strategy and ends up in loss, blaming these participants doesn't make sense.

Bitcoin is getting adopted as an investment, but yeah, promoting Bitcoin as a currency is necessary, speculation is a zero sum game, utility changes that. Hope with LN, apart from the HODL meme we would be seeing the return of the popular 2014's Western Union meme.

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February 28, 2018, 03:54:38 AM
 #12

There are people who mislead the people and use the popularity of bitcoin for their own interest.
What we need is to help people getting educated about bitcoin so they will not fall victim, if I am a new investor, I should be wise,
I know bitocin is popular but I would still do further research to fully understand it before putting money.

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