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Author Topic: Why bitcoin never a ponzi  (Read 650 times)
noorman0
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October 01, 2020, 09:29:25 AM
 #61

The irrefutable facts are:
- Beginners assume that bitcoin is issued by the company that they heard of being paired with bitcoin for the first time.
- Most of the ponzi scheme victims blame bitcoin, not the company.

1. Bitcoin is decentralized, all ponzi scheme are centralized
- As time passes, Bitcoin can become centralized depending on the services that use it such as the custodial wallet, CEX, and the ponzi scheme itself.

7. Bitcoin is a very good and easy payment method acceptable in many countries now, has any ponzi been like this? No
- The ponzi scheme will not generate a payment method because it is not a means of payment. The two of them are different things that cannot be compared.

We need the right parable for people who are truly laymen, especially those who have even heard or read that Bitcoin is a scam and ponzi scheme, or it can be said that they have basically been doctrine with negative statements about bitcoin. I always use the following basic explanations for the people around me (who have never used but have negative judgments about bitcoin) and they are easy to understand:

What exactly is bitcoin?
Bitcoin = fiat
both have exactly the same function, namely, can be exchanged for fiat and vice versa, can buy goods and services, can be stored as assets, invest in other assets, gamble, etc.
what distinguishes:
- bitcoin is a fully digitized currency, has no physical.
- fiat can be printed with any amount and can be reproduced at any time, while bitcoin is not (limited to 21 million supply units at all times). That is why the price is very volatile than gold.

Why was my friend scammed by investing in bitcoin?
Almost all cases of bitcoin investment scams are ponzi schemes and fake projects.
You need to find out which company (for example company X) is running the investment program, they are the one who scammed your friends. Bitcoin is only the means used in this investment because it is considered easier, so you shouldn't blame bitcoin for scam. Imagine company X running a ponzi scheme using fiat money or gold, would you blame fiat money in this case? This means in the same way you blame the central bank for issuing fiat or earth that produces gold.

Why do people go bankrupt with bitcoin?
Then, why do you think people can go bankrupt with fiat? I guess they have the same cause through their own fault.

And to my conclusion on the question "Why bitcoin never a ponzi?"
Because ponzi is a scheme which later becomes activity, while bitcoin is only one of means of payment besides fiat, gold or other valuable assets, and obviously bitcoin is not issued by any ponzi scheme company.

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