People call bitcoin a fraud or ponzi scheme

[Soneo]

It's normal for people to call new technology scam. Not many persons believed then on the reality of the internet and mobile phone, today one can't leave without them. It is a time.

I think People have little knowledge about how Blockchain technology works, they need to be enlightened
The fact is that everyone has the right to their own opinion, that they call Bitcoin a ponzi scheme does not change anything about Bitcoin originality.

[Sutters Mill]

Those who call $Bitcoin a ponzi know very little about ponzi schemes! The questions they asked at the time I was lured to  ponzi schemes where I lost so much money were; Where is the interest coming from? and What is the place of the funders in the whole structure? And I answered; Banks are ponzi schemes do you know that? You deposit your money with a bank, and they loan it out to someone else, while you never benefit from the interest on your money! Ponzi scheme's are pyramid schemes where you take from Mr. A and Give to Mr. B.Yes that's how they work and the banks aren't any different! The only difference between banks and other ponzi schemes is that banks are ponzis backed by the Government laws. Money just changes hands! $Bitcoin however is a comodity, that is subjected to economic laws of supply and demand! only impatient people lose money here; because everyone has the opportunity to make money! If I buy one bitcoin today at say $100000 and price falls to $10 technically I haven't lost, I lose only when I sell it at $10, If I am patient enough, someone gets to buy it from me tomorrow at $105,000 I have made a profit haven't I? Banks like ponzi schemes don't have a commodity to sell, they only transfer Mr. X's money to Mr. Y, $Bitcoin is comodity money that's why it isn't a ponzi. if the demand increases with its limited supply, it is only normal that price will go up and vice versa.

But this isn't really true. Bitcoin isn't a magical money making scheme and there are no guaranteed returns here no matter how long you hold your money. Bitcoin isn't guaranteed to last forever and could well fall by many more thousands and never get back to the all time high or even where it is currently. What then? Keep holding in the hope that one day it will return again? Again, nothing is guaranteed with bitcoin no matter how long your are prepared to hold.

As I previously explained, Bitcoin obviously wasn't created as fraud or pyramid scheme and it was created with what I believe to be good intentions to make a new economic model for truly fair money, but unfortunately it does have some similarities with a pyramid/ponzi schemes and I can see why people make the comparison. Ponzis and pyramids are scams created by a fraudster with the intent of getting people to invest in something that doesn't exist. You could argue that bitcoin doesn't exist other than in code and the early adopters were the ones who benefited the most and for the model to keep going new money needs to keep coming in. If that new money stops coming in or most holders lose confidence and dump their coins then that could be catastrophic. Bitcoin could then collapse at that point and if that does happen then not only will bitcoin go down in the history books as a failure but many people will then refer to it as a scam/fraud and the new tulip mania and so on. I really hope that doesn't happen but it's something that would be out of our control.

[Cashi]

Well there will be everytime one calling Bitcoin a fraud or a scam, but this doesn't mean it is right. There are many haters of Bitcoin and we should be aware they are spreading misinformations.

[dohh]

Do You like it more, if I call it pump and dump scheme?

[ANUKRAMAYON]

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

Of course until they fully understand about Bitcoin and its blockchain network people will call bitcoin a fraud or ponzi scheme and it is normal for them to say that but once they understand about the true nature and potential qualities about Bitcoin the view might change for better but for this ti happen it might take several years because still the amount of people who benefit from Bitcoin are much less considering the rest 

[Yadamosan]

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.

Your idea is right and just another info on that call bitcoin anything they want but they can't change the mind of the really bitcoin users or the old ones, becuase they're immune on what is happening on bitcoin every year or everyday although they're not expecting that the price of bitcoin will become too low like now but still many is predicting on what will happen on bitcoin on the last 5years, for the people who is saying that bitcoin became a bubble or bitcoin will end they can only change the view of the newbies that's why it is too dangerous for the newbies.

[Thecryptocurrency09]

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.

We all drop name names to the things or something that we do not want. Sadly, it is a form of judging wherein they judge things on the apot amd say what they just want to say just like in bitcoin. At those times, what we can only do is to support bitcoin in our own way. Such things are the causes of people who use bitcoin in bad ways.

[teklang01]

Know that there are lots of big people regrets calling bitcoin a scam its because they realize the true potential of bitcoin, the big change in our financial system. The bitcoin is real that the government and the people who call it scam will feel it when it gets really big. For me, I firmly believe that this bitcoin is the future of money and payment system.

[Caubethamaner]

They will always talk negative about bitcoin, because what they hear is only about that? You're right they just don't know how profitable it is to invest or use bitcoin. There are many who profit from bitcoin investment and this is not ponzi let alone fraud? The risk of loss will always be in every investment right?

[yansen]

there is nothing real in this world. Don't be too thinking about something valuable. because it will only be 0 (zero). let them think that bitcoin is ponzi, because they only see it from the physical. never understand Bitcoin in full meaning. we who have long been in the crypto world remain calm inside. and produce something better than them.

[SoiledDove]

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.

We cannot really control what other people say bitcoin is. We are all entitled of our own opinion, we can call bitcoin whatever we want. We should not really care. It’s not making any sense having a conversation with people who are closed minded.

People probably talked negatively about currency when it first started out. Intially people bartered goods or paid with gold. So the idea of a standard token backed by a bank probably sounded mad. But traditional currency lasted a long, long time.  Of crypto can be used for fraud, so can ordinary currencies. Hopefully, we'll look back one day at things people said about Bitcoin and laugh at them.

[gulshan1]

Bitcoin is a revolution in the world to the changing money transfer system and some people are not happy to see this because they are not getting profit from bitcoin by their mistake and disliking. But this is not fraud system and it is a peer to peer system which is crystal clear and any body can check every transaction by anybody at any time with any particular address of bitcoin in the world at any where with the help of internet. And don't believe to that person who is say it is fraud.

[CryptocitySL]

No, do not accept it. Why do you say that your eyes look like success? How is bitcoin a fraud successful? Today, the number of people who earned a big income through this process is many. This coin has been expanded throughout the world. Investors also enjoy the investment. Do not be fooled by lies. bitcoin is much higher than trust. Invest in here. You can make a great income.

[Lexurdania]

I dont believe bitcoin is a fraud or ponzi scheme because bitcoin backup by secure network and miner. I am believe people who called bitcoin is a fraud is people who dont understand about blockchain or decentralized system. Beside that, right now many big company start accepting bitcoin as payment.

[slyfox]

People that do that are nothing more but ignorant not only about the technology but about how the economy works, in the past I used to get bothered by this and I even argued with such people, but after some time I learned that if they want to let one of the biggest opportunities in their lives to pass them by then that is their problem but I'm going to take advantage of this.

[BennyK]

I would not be surprised if people regard Bitcoin as ponzi scheme because a lot of people are living out there with numerous of misconceptions about Bitcoin and the whole crypto market. These people have refused to learn on their own to know the actual concept of Bitcoin and its benefits. They are rather carried away by the false news presented by the media and governments.

[kent47400]

People who say that are people who do not understand how Bitcoin works.
That person knows Bitcoin when it has touched the price of 19,800 USD and does not know the price of the Bitcoin was around 1 USD.

"It's very sad to hear it"

[millgates]

Just because many people whe have loss their money in cryptocurrency investment then they judge bitcoin as ponzhi scheme. Actually all is the matter market playing. All stocks also has rhe same kind of risk but it is smaller.

[Yangleiden]

This is why people in crypto get so hot under the collar about Bitconnect. It makes them uncomfortable because they know at heart it isn't that much different from the crypto they own that goes up from new people wanting some of it. They want people to invest in THEIR ponzi scheme, not this other Bitconnect ponzi scheme!

Government issued money is a ponzi scheme too, everything is a ponzi at some level. Bitconnect is just the most ponzi of ponzi schemes lol.

[Moblie_Legend]

Just because many people whe have loss their money in cryptocurrency investment then they judge bitcoin as ponzhi scheme. Actually all is the matter market playing. All stocks also has rhe same kind of risk but it is smaller.

yes, we understand if there are people who say bitcoin schemes or fraud. because they don't know what bitcoin is and they have never felt the benefits of investing. Yes, what you say is that they may have lost and lost, which makes them think negatively about bitcoin