Kryptowalut and Bitcoin is a financial pyramid?

[Skieleton]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

[avikz]

Poland is known for their anti crypto mentality. Their Banks have stopped providing service to the crypto related businesses and the matter is now sub judice. The government is now funding the anti crypto propaganda to discourage people from entering into this space.

The ATM you are referring here, is funded and maintained by a privately owned company. So it has no relation with the government. Since the entire story is under the purview of court, the government is trying other routes. The situation is very similar to India now. Not yet banned and not yet legalized. Balancing on a limbo.

[Argoo]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

Somehow information already appeared that a particular bank in Poland financed the dissemination in social networks of deliberately false negative information about the crypto currency. Something the authorities and bankers of Poland are very much afraid of the spread of crypto-currencies in this country. And the tax authorities even obliged citizens engaged in crypto currency to fill out a separate document for each transaction for subsequent submission to the tax authorities. In Poland something really is going on.

[LeGaulois]

There are misconceptions about Bitcoin, from governments. As a result, Bitcoin is considered as an asset rather than a digital currency. It's mainly because they have not searched a lot to know about the topic, digital currencies are disruptive. But saying Bitcoin is a financial pyramid is a lie. They print fake money backed by nothing so I think they shall watch out for themselves before watching others

[Skieleton]

Poland is known for their anti crypto mentality. Their Banks have stopped providing service to the crypto related businesses and the matter is now sub judice. The government is now funding the anti crypto propaganda to discourage people from entering into this space.

The ATM you are referring here, is funded and maintained by a privately owned company. So it has no relation with the government. Since the entire story is under the purview of court, the government is trying other routes. The situation is very similar to India now. Not yet banned and not yet legalized. Balancing on a limbo.

It is always like that. If something positive appears, someone tries to destroy it. It is a pity that new technologies are not supported

[saywhat]

I have a story. I'm working in IT as software developer. I have a lot of colleagues all from different teams. Haven't once had a normal conversation about cryptocurrencies. All of them think it's a waste of time and some of them even think it's a financial pyramid as op said. This is pretty sad that intelligent and educated people still can't accept technological changes involving day to day finances.

[Mandarava]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

This is because your government does not want people to become interested in new technologies and that everyone is afraid to deal with this. They do not want you to become richer and more independent. They need you to keep your money in the banks. Therefore they frighten you. In fact, this is a lie!

[Skieleton]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

This is because your government does not want people to become interested in new technologies and that everyone is afraid to deal with this. They do not want you to become richer and more independent. They need you to keep your money in the banks. Therefore they frighten you. In fact, this is a lie!

It's always about cassettes. At least i think so. BTC is difficult to settle, there are no regulations. There is a problem in this.

[dohh]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

That means Your government is smarter, than the average. Yes, BTC is a scam, financial scheme. Hardware has nothing to do with BTC being legit or not. Even KairosPlanet had their own "storage boxes", although it was a clear ponzi and pyramid.

https://bitcointalk.org/index.php?topic=4541411.msg41079489#msg41079489

[darkangel11]

That means Your government is smarter, than the average. Yes, BTC is a scam, financial scheme. Hardware has nothing to do with BTC being legit or not. Even KairosPlanet had their own "storage boxes", although it was a clear ponzi and pyramid.

Than what has to do with it not being legit? I mean, you clearly are against it, so if the points given by people on this forum don't satisfy you, share what ponzi scheme features does BTC have. I'm curious whether you can prove your point or are just another troll.

OP, your government is well known for being a bunch of manipulating liars. I read how they paid youtubers to spread lies about cryptocurrencies and later imposed a 1% tax on every crypto transaction, which basically made it the worst country in the world when it comes to crypto taxation.
https://www.reddit.com/r/ethereum/comments/7y88xz/polands_central_bank_secretly_paid_youtubers_to/

[dohh]

That means Your government is smarter, than the average. Yes, BTC is a scam, financial scheme. Hardware has nothing to do with BTC being legit or not. Even KairosPlanet had their own "storage boxes", although it was a clear ponzi and pyramid.

Than what has to do with it not being legit? I mean, you clearly are against it, so if the points given by people on this forum don't satisfy you, share what ponzi scheme features does BTC have. I'm curious whether you can prove your point or are just another troll.

OP, your government is well known for being a bunch of manipulating liars. I read how they paid youtubers to spread lies about cryptocurrencies and later imposed a 1% tax on every crypto transaction, which basically made it the worst country in the world when it comes to crypto taxation.
https://www.reddit.com/r/ethereum/comments/7y88xz/polands_central_bank_secretly_paid_youtubers_to/

Never said BTC was ponzi, I said Kairos was. BTC is different monetary scheme, with strong elements of pyramid. There are several ways to prove BTC is a fraud, the simplest to understand is the mining part.

Critically important: mining is the backbone of BTC product right? Miners do validating and keeping history of transactions right? They get a chance to be awarded with coin in return, right? But release rate of coins is diminishing in exponential rate. That could be possible, et number of transactions dropped in such a pace too, but that is not the case. If BTC was healthy product, the need for calculations would rise over period of time, not shrink!! Now, absence of real product is a clear sign or scheme.

If You leave aside speculative exchange rate, then people who invest money into mining, get less and less in return, while first few miners got HUGE benefit from fast release of many coins.  https://en.bitcoin.it/wiki/File:Controlled_supply-block_reward_halving.png  This is a clear monetary pyramid, just people dont buy in with money directly, but via electricity.

https://en.bitcoin.it/wiki/File:Controlled_supply-supply_over_block_height.png   And this clearly shows, how mining, or in other words, validating transactions, get mathematically meaningless in near future.

So You are all speculating on scheme, there is no viable real product behind.

[pitiflin]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

Do you honestly still believe in advertisements? Look, no matter what media says, you gotta do your own due diligence before believing in anything. And people are still speculating whether or not bitcoin is a buuble, they are even speculating if the world is flat or not. So you'll never get one proper answer, because all you will get is opinions.  Bitcoin is not a financial pyramid, I can tell you that. This is what financial pyramid means:

A pyramid scheme (commonly known as pyramid scams) is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

There are ATMs in Poland and not in more famous countries? I am so mad now. 

[Skieleton]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

Do you honestly still believe in advertisements? Look, no matter what media says, you gotta do your own due diligence before believing in anything. And people are still speculating whether or not bitcoin is a buuble, they are even speculating if the world is flat or not. So you'll never get one proper answer, because all you will get is opinions.  Bitcoin is not a financial pyramid, I can tell you that. This is what financial pyramid means:

A pyramid scheme (commonly known as pyramid scams) is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

There are ATMs in Poland and not in more famous countries? I am so mad now. 

Yes, there are ATMs. I have not used them yet, but I have often seen people paying out. A very nice solution. It is a surprise that there is such a cryptocurrency ...

[darkangel11]

Never said BTC was ponzi, I said Kairos was. BTC is different monetary scheme, with strong elements of pyramid. There are several ways to prove BTC is a fraud, the simplest to understand is the mining part.

Critically important: mining is the backbone of BTC product right? Miners do validating and keeping history of transactions right? They get a chance to be awarded with coin in return, right? But release rate of coins is diminishing in exponential rate. That could be possible, et number of transactions dropped in such a pace too, but that is not the case. If BTC was healthy product, the need for calculations would rise over period of time, not shrink!!

The number of released coins is diminishing due to a number of reasons. One of them are halvings that reduce block rewards. There's also increasing difficulty due to more powerful miners being released. POW has its downsides, no system is perfect, but I can't see any signs of a ponzi scheme in the way BTC is being mined. I'ts actually pretty healthy when you realize that it's able to regulate itself by adjusting the difficulty based on hash power.

Now, absence of real product is a clear sign or scheme.

Absence of a product? Really? Then what are you buying when you're paying your internet bill? The company that you're paying doesn't produce anything, unlike a power company that produces electricity and maintains the network. Telephone cables don't get hit by lightnings and storms and you don't need power meters, breaker boxes and transformers everywhere. You're buying the permission to use the global network. If this isn't a real product, then bitcoin aso isn't, but both have value and people are willing to pay for both. Does that make internet companies scams? Does that make a domain you pay for a part of a scheme? Let's be real, this is 21st century, you don't have to hold something in your hand to know that it exists and has value.

[Veterock]

This advertising has been going on the Internet for a very long time, don't worry yet)

[batang_bitcoin]

I come from Poland. Today on television I saw an advertisement in which they said that kryptowalut and Bitcoin is a financial pyramid. They said that in a moment the bubble would break and investors would be left without capital. It was a advertisement financed by the government and the police. Why is this happening? It is quite depressing.

On the other hand, Bitcoin ATMs appeared in hypermarkets. Strange true?

I'm having time to understand what is a kryptowalut but I figured it out kryptowalut = crypto wallet.

Don't be depressed, if your government doesn't like bitcoin that way then why they are making such statements on national television and why not just implement a nationwide ban, that's even weirder.

That's the popular call for bitcoin as a pyramid / ponzi but have they considered and look out to the fiat money? they misunderstood it because of the scammers that are using bitcoin to their scam schemes.

[Gary Joness]

No, absolutely not. Pyramid scheme is inherently deceptive while Bitcoin is transparent and nothing deceitful. People leading pyramid scheme lie to investors and encourage them to invite their relatives with the promise "above-average income". A lot of naive students and unaware people are decieved and have no alternative but to put money into the scheme. At the same time, Bitcoin investing is absolutely volunteer. The profit-earning machanism is nothing different from that of the stock markets.

[Stephen Martinss]

Absolutely not. The coin market is riddled with scammers who take advantages of Bitcoin fame to attract others to put money into their pyramid system. That causes bad reputation for Bitcoin while in fact it is actually harmless. Don't mistake Bitcoin for a ponzi scheme anymore!

[Brenda Medeiross]

The con artists of Pyramid system lure you to invest with astronomical interset rate and after that run off with your money. This system is a financial fraud and can collapse anytime. In contrast, Bitcoin has no one to pull the strings and doesn't make you any promise. It's sustainable and investors earning by buying low and selling high, like normal asset. Bitcoin has dipped, yes, but it's because it was inflated, not because it has no value!

[Justin Monizz]

Your government just wants to discourage the citizens from growing interests in  Bitcoin. They are not open enough to accept new things. Mistaking Bitcoin for a financial pyramid is such a big misconception. I don't see any thing that the two have in common. Profits or losses in Bitcoin depends on your investing strategy.