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Author Topic: Why some people treat BTC as ponzi scheme?  (Read 1131 times)
ClaytonLWils
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May 22, 2018, 04:28:58 PM
 #1

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?

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May 22, 2018, 04:56:38 PM
 #2

People who think of Bitcoin as a Ponzi scheme simply don't understand it and are too lazy to make the effort to understand it.
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May 22, 2018, 05:00:20 PM
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 #3

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?

I think it’s because people have a hard time understanding how Bitcoin gets its value. It’s hard to grasp since it is not a tangible thing like gold and not backed by a government.

I like to compare Bitcoin to something like PayPal. PayPal is also not a tangible thing but it has a purpose and we are willing to pay for its services. The same is true for Western Union. The bottom line is that Bitcoin provides a service that gives it value.

 
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May 22, 2018, 05:03:12 PM
 #4

Because of pyramiding schemes that uses Bitcoin as a registration method. In our country, when you say Bitcoin some people will think Bitcoin as a scam. These mafias ruins the reputation of crypto currency as a whole.
Aside from pyramiding, some mafia's are doing very bad by scamming people thru their fake ICO.


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May 22, 2018, 05:34:05 PM
 #5

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 is because they don't fully understand what is Bitcoin and how it works and they don't know the definition of ponzi scheme. How can they call it a ponzi scheme if there is no company that is operating it, so who will scam people, none right? ponzi scheme also offers high payouts, so who offers that in Bitcoin? none, because there's really no one obligated to pay you when you invest. It is just that some people are basing their comments on what they've read or heard to other people that also have wrong information. They easily judge anything without having enough knowledge about what they are talking about.
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May 22, 2018, 05:42:09 PM
 #6

Bitcoin is a ponzi scheme to those who weren't able to get in early into bitcoin. Now they are just spewing their hate on Bitcoin due to them not gaining the huge returns that everyone else who got in early earned. You shouldn't really think about or care about these kind of people as they wont be able to harm bitcoin.

 
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May 22, 2018, 06:25:28 PM
 #7

I feel those people who say bitcoin as ponzi scheme .They  don't want to adopt blockchain technology. This people dont want to understand what bitcoin ,blockchain and also they just want to earn old fashion way 9 to 5 job.
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May 24, 2018, 05:11:25 AM
 #8

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?
We can’t say anything about the someone’s mentality. There could be even thousands of people who consider bitcoin a scam and doea not believe bitcoin as an asset and sustainable crypto currency and as you are also saying that some people consider bitcoin a Ponzi scheme, I think they called it because of rapid flactuation in the valuation of bitcoin that it get hikes to such a high value so people use to compare it with any chit fund company who use to collect people money then flew away but for them is that bitcoin is an asset a resource which is a boon for the humanity.
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May 24, 2018, 05:22:04 AM
 #9

Because they are too lazy to do some research. Most of these kinds of people are from the Third World. Stop wasting your time persuading them to invest in bitcoins. Just let the business news headlines do the convincing.

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May 24, 2018, 05:46:08 AM
 #10

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?

bitcoin is actuall a huge ponzi scheme

its an it system marketed as money, the losers will reveal themselves soon enough.

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May 24, 2018, 05:48:54 AM
 #11

Some pundits are saying that bitcoin is a ponzi scheme and it wouldn't last long. They are either ignorant about it, or don't want you to earn money. Bitcoin has made a lot of people rich over the past one year or so. It is still the best long-term investment out there.
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May 24, 2018, 06:02:21 AM
 #12

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?

This is mainly because there are people who uses bitcoin in there ponzi schemes to scam money. I can't blame those people since they lack knowledge about bitcoin and the blockchain that's why calling it such. Sometimes lack of knowledge into something will make people become skeptic and just talk shit to things that they don't actually know about. I myself talk shit about bitcoin few years back since I don't have any knowledge about the technology thinking that it was just merely a scheme to scam peoples' money but I was wrong and regret that I never invest in bitcoin, it could've made me so much profit.

Because they are too lazy to do some research. Most of these kinds of people are from the Third World. Stop wasting your time persuading them to invest in bitcoins. Just let the business news headlines do the convincing.

I concur. You just have to show them your portfolio and the profits that you've made from crypto and its their loss if they don't believe in you.

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May 24, 2018, 06:30:36 AM
 #13

People have been conditioned from a early age, with the saying that says - "If it is too good to believe, then it probably is" and this is echoing in their brains when they analyse Bitcoin.

Here is a digital token that increased in value from $1000 to $19 000 in 1 year. This would have triggered the little red flag with most traditional investors. They will not even do more research when things like this happen, because they just believe in the saying that, "If it is too good to believe, then it probably is"

What do they do next? They label it as a "Ponzi Scheme", because it fits their definition of a Ponzi scheme. If they did a little more research, they would have found that the usual methods to grow a Ponzi scheme is absent, when you look at Bitcoin.

There is no referral bonuses and aggressive marketing for people to buy bitcoins. It is a open market and you are allowed to buy and sell at your leisure. You do not get a higher interest rate , if you invest more money or if you introduce more people to Bitcoin. It is just another digital token that are traded as a commodity and a currency.  Grin


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May 24, 2018, 06:42:23 AM
 #14

they don't understand it because of lack of knowledge. they believe what they saw in the internet about bitcoin being a ponzi without knowing why. or they are scammed before and the scammer use bitcoin as bait.
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May 24, 2018, 07:21:47 AM
 #15

Some pundits are saying that bitcoin is a ponzi scheme and it wouldn't last long. They are either ignorant about it, or don't want you to earn money. Bitcoin has made a lot of people rich over the past one year or so. It is still the best long-term investment out there.

all money, all obligations, all contracts, always were and have been ponzi schemes, and always will be those,

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May 24, 2018, 10:07:36 AM
 #16

Not every investor is experienced and wise. The novice investors make comment based on the price. So if the price is low then they will claim it as Ponzi. I believe this is on account of individuals experience serious difficulties seeing how Bitcoin gets its esteem. It's difficult to get a handle on since it's anything but a substantial thing like gold and not supported by a legislature. Actually this is the talk of novice not the expert. If bit coin is Ponzi scheme then all the coins in the market are super Ponzi.
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May 24, 2018, 10:30:20 AM
 #17

Thats because most of them have decided not to leave the past behind them and move forward. Thinking that bitcoin is a ponzi scheme is simply based on the fact that they invested so much in ponzi schemes  in the past that failed or went down the drain with no profit or talk less of them seeing  their capital with which they invested with.I advised that they get clear understanding about bitcoin and invest than still leaving in the past.
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May 24, 2018, 10:35:11 AM
 #18

I must say, some people treat BTC as ponzi scheme just because they don't understand the nature of Bitcoin, or they just want to promote their ponzi schemes so they say Bitcoin is ponzi scheme first.

Some trash ICOs are real ponzi schemes.
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May 24, 2018, 11:56:06 AM
 #19

Some pundits are saying that bitcoin is a ponzi scheme and it wouldn't last long. They are either ignorant about it, or don't want you to earn money. Bitcoin has made a lot of people rich over the past one year or so. It is still the best long-term investment out there.

The person who says Bitcoin is a ponzi scheme has no deep knowledge about Bitcoin because I think Bitcoin is a digital asset that must be properly understood to understand how Bitcoin will make your life better for the future.
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May 24, 2018, 12:07:41 PM
 #20

First of all, pure ignorance and misconception of how bitcoin and blockchain technology works. Secondly, it's hard for some people with conservative thinking to conceive how something not backed by any physically valueable be not a bubble.
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