People call bitcoin a fraud or ponzi scheme

[tonywangg]

There are most likely large droves of people calling Bitcoin a ponzi.  This is because the media has told them to think this way so they do.  Once the government wants the blockchain to go mainstream they will tell the sheeple the blockchain is great and the sheeple will file in front and center. 

[r_herbert]

People tend to comment what they do not understand. A Ponzi scheme is illegal. Bitcoin has undergone regulations and is accepted by any structure. It is investment and people can earn money with it. With any kind of investments, you can lose your money. It does not mean that all investments are a Ponzi scheme. Moreover, as many have quoted, the blockchain technology has nothing to do with a ponzi scheme. It is very transparent and useful to the society. It is not only about money. It can be used for different social aspects.

[ASHANABEY]

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.

People say Bitcoin is not worth for its price tag because it doesn't do anything productive at the moment but if we really imagine what kind of things it can do the price might be much higher than the current price but the sad thing is what ever the intention that Bitcoin was build or created is no working at the moment because it has become an investment asset than a digital currency in today world so its productivity has been limited by greedy people 

[Crystal24]

People who say bitcoin is scam or a ponzi scheme clearly lacks knowledge about what bitcoin is and its potentials.

[Fred3030]

The only reason some person think bitcoin is a scam and fraud is because of its high volatile and lack of knowledge of what bitcoin really is. Butcoin to me is simply an investment .

[jonaire99]

Those who said that bitcoin is fraud or ponzi should educate themselves first on cryptocurrencies and blockchains before making any negative statements on the coin. Lack of enough knowledge about bitcoin will only lead them to being a victim of scams by greedy individuals that uses cryptocurrencies. It is better to understand fully the basics of cryptocurrency and how it works when it use for investment before buying it or joining some online investments.  

[ngamuk tok]

let them speculate about this, in the end they will trust bitcoin.
you cannot force one thought on everyone. yes that's human.

[Teriyanone]

Agree Many people call that some who are in the community and many who haven't even understand a bit about Bitcoin and because of such personals and there unnecessary interruptions and false information directly or indirectly Bitcoin is getting huge impact but even still bitcoin is recovering its price. so no matter what others will say only the time will decides what will be the path that Bitcoin will select and no matter what that is there will be a significant effect in the crypto currency market and the community   

[airdrophunter]

There are just misconception from people (who don't really have the knowledge of what really bitcoin is) who only heard bitcoin from other people who are also have negative thoughts about bitcoin and cryptos. If only these people be enlightened somehow, then maybe their perception towards bitcoin will also change.

[doodle07]

They have not been explained well or maybe they are not really interested on Bitcoin and other crypto currency so they make negative thoughts on their mind and even media have been use to brainwash the minds of people, so that they are making negative statements about it. I am hopeful that soon, they will be able to learn and understand what really it is, let us teach and enlighten them.

[Tory-Tory]

Let's not forget that the value of any product or service depends on the demand. Both an apple and bitcoin form their prices, being guided by the demand in the market. And those who call bitcoin is a ponzi scheme are complete fools.

[ethereumhunter]

I will not talk with the people that consider bitcoin is a fraud or ponzi scheme because I am sure that they don't know what they talking about and they are only want to spread the negative news. I will still hold my bitcoin and if I can make a profit, I will not tells them and let them decide what they want to do and if they want to buy bitcoin, then it's great for them and if they don't want to buy bitcoin, then they have their options. let them have their opinions and let them see what will happen later.

[VeronicaStephens89]

People make subjective predictions and there is no certainty. What makes people think so? Please give some examples.

[dohh]

People tend to comment what they do not understand. A Ponzi scheme is illegal. Bitcoin has undergone regulations and is accepted by any structure. It is investment and people can earn money with it. With any kind of investments, you can lose your money. It does not mean that all investments are a Ponzi scheme. Moreover, as many have quoted, the blockchain technology has nothing to do with a ponzi scheme. It is very transparent and useful to the society. It is not only about money. It can be used for different social aspects.

Ponzi scheme is illegal only, from when something is defined as ponzi, not before.

But I agree with You, that BTC is not ponzi scheme. Its a pump&dump scheme on the top of pyramid. This is unusual pyramid, thats why it has not been clearly stated yet. Its a pyramid, where payment for miners in every new generation of coins released is halved. Therefore mining gets 2 times more pointless each time, eventually vanishing into zero.

Trading part is clearly a pump&dump scheme, for undrstanding that, You should read, how p&d work and look closely at BTC price changes. There are certain patterns.

In order to classify BTC correctly one has to have good knowledge in economics, in IT and in math. Few have them. Thats why there are very few to the point critisisms towards BTC.

[dohh]

People make subjective predictions and there is no certainty. What makes people think so? Please give some examples.

I can give You example:

Scalability of BTC is not proven. Sceptics believe, it will never be and it was never meant to be. Why is this so important? Because with scalability we can talk about BTC as future project with huge potential. If sceptics are right (read: ME), then we speak about big nothing. BTC serves only interest of those who fish in the Greater Fool pool. Without scalability BTC has no possibility to become a currency. That is not the only problem with BTC, but at the moment by far the most important...

For understanding scalability problem, You would need more than mediocre knowledge in maths and IT. So dont be too harsh to Yourself, if You dont understand it.

[EoNs_COIN]

most likely because they dont understand the concept of it

[IndependentWild87]

There are a lot of people who live by depending on bitcoin and there are a lot of people who do business in bitcoin, so we just need to overlook them because we know what is bitcoin.

[Dinomoves]

People view it that way that’s the way they think about bitcoin because they probably don’t know how they can be benefited or just got affected bt their loss and can’t move on or they just hate it. They are entitled to their own opinion but I don’t have to be affected by them.

[Eminem23]

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.

I strongly disagree with these people, because bitcoin is almost a global cryptocurrency, showing itself perfectly in the cryptocurrency market for a long time, so I will not argue that bitcoin fraud.

[Gururapyco]

People can call it anything but it won't change what Bitcoin truly is. The majority don't even know what ponzi scheme is and how it works so listening to them has no sense at all.