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Author Topic: Why some people treat BTC as ponzi scheme?  (Read 1018 times)
Taki
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May 24, 2018, 12:13:11 PM
 #21

Bitcoin itself is not a ponzi scheme, but some people create ponzi schemes on the base of bitcoin or other crypto currencies. People should to make clear difference between such projects and crypto currency, but unfortunately there are those who blindly follow fast and easy profit, that's why they became an easy victim for such ponzi schemes.

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May 24, 2018, 01:42:15 PM
 #22

It looks like a Ponzi scheme or a pyramid scheme. If I buy bitcoin today, it will be more valuable tomorrow because others have bought it at a higher price. As an existing “investor,” I am benefitting from others getting in. Meanwhile, what I’m actually owning is a bitcoin. Don’t get me wrong, bitcoin is valuable, but it’s not worth $10,000 per coin, or even $1,000 per coin. It’s a currency. It’s not Amazon or Apple stock.

If you bought Apple or Amazon stock early on, then you bought something that had a massive hidden future value, and as that value was revealed, you benefited by investing in it very early, before the value was apparent. Apple and Amazon are companies which generate revenue and profits, and a share in these companies represents ownership in something that is growing.
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May 24, 2018, 01:44:22 PM
 #23

I really wonder to some people who think bitcoin is a ponzi scheme.

you must be a time traveler from back in 2009-2011ish.
these days in 2018 nobody even thinks bitcoin is remotely close to a Ponzi scheme but you! there is no similarity even. why would you even think that?!

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May 24, 2018, 01:45:23 PM
 #24

When we talk about Bitcoin, or Ethereum or any other digital coin, for that matter, neither “ponzi” nor “pyramid” are perfectly accurate descriptions for how these systems actually work.

Ponzi schemes, as traditionally run, usually are administered by a central operator (Charles Ponzi, Allen Stanford, Bernie Madoff, Sergei Mavrodi) who is responsible for bringing in new funds and disbursing withdrawals from the scheme in an orderly fashion. These schemes fall apart when demands exceed deposits and the scheme promoter is unable to satisfy investor requests, causing a loss in confidence or a run which first ruins the scheme’s liquidity, which in turn ruins the scheme as a whole (or rather, brings the scheme to its inevitable end, since Ponzi schemes are doomed to die from the moment of their inception – none can expand forever).

Pyramid schemes, by contrast, are more decentralized in character. Each victim of the scheme, to recoup their funds, is required to become a principal in the scheme and recruit further victims, who then pay the principal and earlier principals above him. Not all multi-level schemes that are pyramidal in structure are illegitimate; see, e.g., Avon, which has a genuine product at its core  and employs a legally-sound “direct selling” structure.
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May 24, 2018, 03:45:38 PM
 #25

I am worried not only about the people who believe that it is a Ponzi scheme but also we have a threat from the people who believe that Bitcoin is a get quick rich scheme. The biggest reason behind this misconception is the lack of understanding of what Bitcoin and blockchain are all about. I believe that we will see growth in the maturity over the time.

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May 24, 2018, 03:50:02 PM
 #26

Definitely Bitcoin is not a ponzi scheme. The people who think Bitcoin to be a ponzi scheme, have misunderstood the scheme and does not primarily has the time to re-evaluate their decisions
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May 24, 2018, 04:06:16 PM
 #27

Most people don't know about things but calling everything a scam, they are afraid about.
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May 24, 2018, 11:02:18 PM
 #28

People who doesn't know about bitcoin properly, they consider it to be ponzi scheme. Bitcoin is a decentralized platform where everything is safe if you're concerned about it.  Bitcoin has never been hacked by someone unless the account password has ben disclosed. It is platform which we can fully trust.
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May 25, 2018, 04:12:57 AM
 #29

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?

because they think bitcoin is a hype that same as ponzi scheme.
bitcoin value has been increased every years and makes they doubting it because the significant increment of bitcoin price.

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May 25, 2018, 04:20:56 AM
 #30

Playing bitcoin requires a lot of luck and computation !!!
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May 25, 2018, 04:21:27 AM
 #31

Extreme volatility.
Investing in cryptocurrencies involves very high risk, as prices have been extremely volatile. Many experts are sceptical about bitcoin as an investment primarily because there is nothing for them to analyses. Vivek Belgavi, Partner and Fin tech Leader, PwC says, “There isn’t enough of an ecosystem surrounding bitcoins to allow fundamental analysts to study it as an investment. People are therefore investing with imperfect information and joining the herd of speculators.” Since these cryptocurrency prices are not regulated, as more people enter the market lured by the high prices, the prices climb ever higher. This might lead to formation of a bubble that will eventually burst and cause widespread losses.

 

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May 25, 2018, 05:28:53 AM
 #32

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?

At first, they are trying to brag the name of bitcoin to each of their target client. They are explaining the benefits of volatility of btc when the value is at the increasing side but they didn't tell the whole thing they have to know about bitcoin as cryptocurrency. I believe this people who thought about bitcoin as a ponzi scheme didn't have a knowledge what really bitcoin is, and/or what is the truth behind btc. Additionally, they never realized that there is really bitcoin existing even if other people will not use it as networking scheme to promote it.

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May 25, 2018, 06:09:09 AM
 #33

some people treat BTC as ponzi scheme just only because they don't know the properly about the whole crypto currency thing, why they are confused about the thing man, it's simple and easy. it makes me sad.
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May 25, 2018, 06:21:54 AM
 #34

They have reasons to believe that.
First, it has no intrinsic value. The entire system is working on trust. The price of bitcoin is high because we all have put our trusts into it. If one morning everyone runs away with your money you won't have anyone to catch.
Second, no customer support or help desk. How are people going to trust a system which has no support system?

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May 25, 2018, 06:24:35 AM
 #35

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?

If it has made many people rich and they are happy in their life then why do you even believe in those thoughts anyway.

There will always be such people who dont care about the technology or when they fail in their life with some achievements for example getting to know bitcoin and earning it then it could lead to bad impact on their thoughts and thus they start calling it as ponzi stuff and all.

The ideal way to cop up these kind of people is to ignore them and have the bliss.  Wink

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May 25, 2018, 06:26:17 AM
 #36

Majority of people don't understand the mechanism behind the Bitcoin and they simply don't want to learn. And so they just assume its a ponzi scheme since they can't understand why its growing. Such people will regret missing out on this cryptocurrency revolution. Too many lazy people who doesn't want to learn. Everyone should read , research and learn new things. Bitcoin is not a ponzi scheme. If it were to be, it won't have survived 8 years ago.  No ponzi can last up to that.

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May 25, 2018, 06:33:41 AM
 #37

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?
It's due to some of the coins that projected their scammy behavior such as bitconnect.

And you know that once the people see something similarity and they'll compare it to each other as the same thing, they'll think of it as one. Bitconnect scammed, others are thinking that bitconnect = bitcoin so it was affected on what bitconnect did.

Another thing is when others doesn't have an idea on what bitcoin, they'll categorized it as scam.

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May 25, 2018, 06:51:45 AM
 #38

Its because Bitcoin has been used by scammers in numerous ponzi scheme around the world and that makes people treat BTC as a ponzi scheme. Most of us know that bitcoin is not a ponzi scheme right?? Its just scammers use bitcoin in different schemes like pyramiding scheme. If we understand how the bitcoin works then we will see that bitcoin is not a ponzi scheme.

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May 25, 2018, 07:50:33 AM
 #39

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now.
But I don't understand the reason behind this type of thought?
it's because of personal experience, people who have experience in ponzi scheme will be more sensitive and have assumption about any investment that can generate high profits and high risk is Ponzi, sensitive people can easily assume Bitcoin is a Ponzi scheme because Bitcoin has no intrinsic value


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May 25, 2018, 08:31:51 AM
 #40

People think that it is a ponzi because they do not know what it is all about. I never believe Bitcoin so much till a friend of mine that is into it explained to me; what it is and how i can invest there and make money. Now, i am the one spreading the news ot it.
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