2013-11-22 Money Week Bitcoin: a ‘libertarian Ponzi scheme’

[cr1776]

The headline does not reflect their opinion, they are responding to the contention that it is a Ponzi scheme and has a discussion of various other issues:

http://moneyweek.com/bill-bonner-bitcoin-a-libertarian-ponzi-scheme/

[No_2]

Another great peice by Bill. Very articulate and insightful.

[Lethn]

Lol this is looks like quite a long argument for something that actually has a very simple set of responses and this is the conclusion I have come to when dealing with people who claim Bitcoin is a scam or a ponzi scheme:

. They don't know what a ponzi scheme is

. They haven't been scammed before or don't know what an actual scam is like

. They don't understand a thing about programming

. They don't know anything about open source software or that Bitcoin is in fact open source

. They directly benefit from the very system Bitcoin is toppling and they hate the idea of it ending

. They don't look up the words they say in the fucking dictionary