People call bitcoin a fraud or ponzi scheme

[idontcare]

I think those who call Bitcoin are scams, most of them do not use the internet. They only know Bitcoin through television or newspapers. Many people do not have Bitcoin knowledge, but they talk about Bitcoin

[jackky]

I think at the end of 2017, it was the ICO MLM projects that had a bad influence on Bitcoin's reputation, so some people think that Bitcoin is a ponzy. We should find ways to explain Bitcoin to these people

[tranduc2101]

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

In the past, I used to think that Bitcoin is just a Ponzi program and works in the same way as the pyramid model. But after learning about Bitcoin I realized that I was wrong, we need more time for people like me to understand the true nature of Bitcoin.

[Futurm]

It's just a stupid idea, just because they don't know bitcoin, that's why they say it, but bitcoin isn't a ponzi scheme, and that's what everybody knows (if you really know blockchain)

[stefy77]

It can't be a Ponzi scheme because it lacks a fundamental component, namely the promise of income. And then there are no referrals.

[ethereumhunter]

because there are still many people who do not know what bitcoin is and how it works. then I think education is needed about bitcoin to introduce the bitcoin to peoples

they only follow with the euphoria about bitcoin from the last year without learning something about bitcoin. and once the bitcoin price is down and they still hold, they are get loss even lose in much money so they called bitcoin is a fraud or Ponzi scheme. but if they can learn more about bitcoin in the first time they join in bitcoin, I am sure that they know that this is what happens with bitcoin and it always happens over and over again so they can prepare something and they preventing from the loss.

[SistaFista]

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

Peoples should be able to see the difference between bitcoin and ponzi. Ponzi scheme usually doesn't lasting for long.
Once the peoples of ponzi cannot bring other peoples anymore, they will die.
If bitcoin was a ponzi, it would easily already dead now because it has been long time.

[tegarp90]

Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.

Because many people people that want to scam, introduced their scam method as cryptocurrency.
That's why people who don't know crypto will call the cryptocurrency is ponzi scam

[Hammonds]

The fact is that everyone is entitled to their own opinion, that they call Bitcoin a ponzi scheme doesn't change any thing about the originality of Bitcoin. Such people have little knowledge about how the Blockchain technology works, they need to be enlightened

Really friends, many people around where I live talk if Bitcoin is a kind of SCAM.

But if if they are explained about the progress of Blockchain then I make sure they will not be able to study in one month, because to learn all cryptocurrency it requires extra patience.

[Aikidoka]

People who consider bitcoin to be a fraud or a ponzi scheme, as you said, are just frauds themselves. The fact that bitcoin did not bring them fortune, they start to bring it down by giving other people negative ideas about it. As a matter of fact, bitcoin will never die even if those miners are not paid.

Let alone bitcoin supporters decide on their own about whether or not it will end. As for me, bitcoin will not perish as it will keep moving forward with pride.

[pimkobai]

In my views, people who does not have depth knowledge about bitcoin would call it a ponzi scheme since they really are ignorant about it. It will take time for anyone who would really study and understand about bitcoin since it is quite complicated. However, the more time you keep yourself involved in this forum could make yourself absorbed information you wish to learn.

[chocolaty]

People will always have different opinions and preferences but what I can say is that bitcoin is the reason why all other altcoins are existing in the first place. It may differ in some ways but it is still the pilot of all crypto coins. Calling it names like ponzi scheme won't help the market to recover because whether we like it or not, bitcoin still has the greatest impact and influence in this whole market.

[Joseph_Bennett]

People that say that most likely have absolutely no idea how cryptocurrencies work. They are probably just echoing what some other uneducated person said. If they had any idea who our traditional money systems work, they would see that they are much worse than Bitcoin could ever be. Central banks just print out money from thin air. Then they hand it out to other banks with interest. There is literally no money to pay back the interest. The only way to pay back the interest is to borrow more money. It's a never-ending circle of ridiculousness.

[yazher]

They call it ponzi scheme that's because of the people using it for their criminal activity like the cloud mining industry, that's where people mostly fall it's because they promise them a short days for their ROI and suddenly they run with these people's money who joined them. that's how bitcoin end up Fraud or ponzi scheme.

[letecia012]

In my own opinion, people who give such that statement are those invested in bitcoin when it was at peak and niw that it is falling deeper they call it a scam or ponzi. some are those who have no idea what crypto currency is and how to use it. anyway what ever they may say as long as there are believer of bitcoin there is always a room for opportunity.

[James Fleming]

It depends what you mean by mining. If you buy gear and connect to a pool and mine on your own - it is not ponzi. You will slowly earn something. Different question is profitability.
If you mean investing in online offers - there can be a ponzi scheme. There are tons of different websites that offer this. Most of them are scam sites that will just take money and wont give you anything.

[abarbaz]

Some people call cryptocurrency as a fraud or ponzi because they don't know about the technology behind it  

[rumexx]

It actually depend on the way you see bitcoin and the experience you have gotten from dealing with bitcoin during transaction. The people calling bitcoin a ponzi  may have had one bad experience or the other but myself  I have not seen anything in bitcoin that warrant it to be classified  as fraud or ponzi. If it is the market manipulation which the so called whales are being accused of can only last for a period after which the market price will continue its movement.

[Sydney Chapman]

 Ponzi schemes are designed to collapse at the expense of the last investors when there is not enough new participants. Bitcoin is a free software project with no central authority. Consequently, no one is in a position to make fraudulent representations about investment returns.
 Like other major currencies such as gold, United States dollar, euro, yen, etc. there is no guaranteed purchasing power and the exchange rate floats freely. This leads to volatility where owners of bitcoins can unpredictably make or lose money. Beyond speculation, Bitcoin is also a payment system with useful and competitive attributes that are being used by thousands of users and businesses.

[KingBit.io]

We are seeing today multinational companies that accept Bitcoin as payment currency and even governments that are guarding funds in Bitcoins and institutions using blockchain technology in their applications. Unfortunately, many ICOs have brought a negative image to the cryptocurrencies, but Bitcoin has not.