People call bitcoin a fraud or ponzi scheme

[Hulh]

They expected to be better off the moment they invested in but the idea of bitcoins is not as they think, hence they will tag it as a ponzi scheme or fraud.

We cant blame to call bitcoin a fraud or ponzi scheme as what they believe. It could be their judgement is based of the news, someone they heard or shared or their own personal experience. We cannot guarantee that bitcoin is 100% scam free. They used bitcoin for thier greedy but we can avoid them as we fully understand and knowledgable about bitcoin.

[thesmallgod]

bitcoin has been subject of discussions among people who do not even have a wallet but rather are been envious of the coin. people say bitcoin is a ponzi scheme just because they participated in pyramid scheme that pay them using bitcoin and they are being scam so they think bitcoin scam them. imaging if satoshi nakamoto is identity is known. many people must have crusify him. ok what of investment scheme that accept donation in fiat. when the scheme turn to scam, do they refer to fiat as being scam.

[MonicaDunn84]

I think those who do not know Bitcoin say so, they are people who, despite being explained or not, still can not believe Bitcoin or cryptocurrency.

[haydrop]

Ignorant people are entitled to their opinion. what i am certain of is it will be late by the time they realize the legitimacy of bitcoin when it attains world acceptance

[ayodeji01]

The reason why this topic will exist shows how much people know little about bitcoin and the blockchain technology. I have always lay emphasis on the surface knowledge people have about  the blockchain technology. However, a person's opinion is his  opinion but that doesn't change the fact that it's not a ponzi scheme, right??

[dohh]

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.

Respect. One of the very first enthusiasts, who at least understands, why the comparison is made.

Now, there is just a tiny gap between what I think and what You think. I dont believe in good intentions and I think empty talk, like mystical Lightning network coming and saving a day, is just a regular delaying lie, which are often used to prolong the scheme. I also think BTC scheme masters didnt see even in wettest dreams, how big their fraudster becomes. When looking at, say Satoshis income, there would had been a great motivation for archidect this scheme even for money 100 FOLD less, than he got now (if he has cashed out). But thats another topic already.

[Falmera]

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

I agree with you fellow. Those who say that is ignorant or does have little knowledge about bitcoin or to crypto currency as whole. Those who knows everything about this, will not be affected by what they said.

[anehh]

Bitcoin is a digital currency that is trusted by many people and its existence has been recognized by the world and can provide considerable benefits to those who invest in bitcoin, if anyone says bitcoin is a fraud, maybe they are part of people who have suffered a loss in bitcoin investment, or not understand bitcoin well. But whatever is said about bitcoin, certainly it will not be able to change the fact that bitcoin is a cryptocurrency that was first available and trusted by many people and has a high price.

[semutracing]

I know everyone is free to give their opinion about bitcoin, but I will continue to support bitcoin because being in the crypto currency gives me the advantage of changing me financially

[adjong]

for me bitcoin is not a fraud or ponzi scheme because i am also a bitcoin user people who say bitcoin scheme is not understood and little is known in blockchain technology. i just can tell That person will not believe in rumors or rumors that you have no interest in and you should know the truth and then tell what the bitcoin really is

[mitchr4]

As long as I join bitcoin I never feel getting fraud or ponzi like that. People who say that don't know anything about bitcoin working. That's all because blockchain technology is so sophisticated that people or governments can't control bitcoin in full. There have been several years since the creation of bitcoin until now there is no evidence even though that bitcoin is like that.

[Renu kapoor]

Each and every deal of this world is a fraud and still we are doing all these things, people are doing all those things which gave profit to them with minimum investment, some time they loose all their earning and saving reason some person do a big fraud to them and shocked them, and so on the world is going on fraud after fraud, and people forget the old frauds.

[Ains_sama]

yes guys, this is about the technology and fame of Bitcoin and other crypto currencies. they call ponzi and pyramid schemes because bitcoin is widely used on ponzi sites. and bitcoin is the only currency that can pass across the country. but most of those people don't understand bitcoin. and the technology. so everyone can make their own opinion about bitcoin.

[Naughty Princess]

As long as I join bitcoin I never feel getting fraud or ponzi like that. People who say that don't know anything about bitcoin working. That's all because blockchain technology is so sophisticated that people or governments can't control bitcoin in full. There have been several years since the creation of bitcoin until now there is no evidence even though that bitcoin is like that.

I agree. Bitcoin is not a fraud and what so ever anyone say about it in negative way. I am earning good from it and never been think of it as other think of it. Those who have no nothing about it and just copying what others do are claiming it as that because they are losing and do not see the worth of it.

[doolittle]

It is absolutely true that everything around us can be called a Pyramid or a Ponzi scheme. Pension system, banking system, currency system of Fiat money, credit and Deposit in the Bank. Generally any system where there is money, can be considered scheme fraud. The only question is legitimate is fraud or not.

[luckywomenn]

I think we should not care about this. Everyone has their right to think whatever they want. We just keep our belief

[ubay]

It's up to them to say Bitcoin Ponzi or scam or MLM or whatever, the point is that it won't change the nature of bitcoin that is transparent and limited supply. Everyone knows that but does not want to believe it, it's possible that they lack knowledge about bitcoin.

[dekcutbusu33]

In my opinion someone calls Bitcoin a fraud, ponzi. Because they don't know about blockchain, cryptocurrancy. But I prefer not to listen to these people, because I really believe they are wrong.

[tintinbongs]

Well we cannot please everyone, if thats their opinion about it then let them. And allow them to observe and prove to them that it is not.  Be positive to your investment and don't let those people affect you.

[anthonytcm]

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.

They will always say that apple is backed up by a physical product, regardless of its true value. You gotta remember that what gives bitcoin its value is trust, not a physical thing, and that's hard to grasp for many people, specially since so many have been screwed before in ponzi schemes (lack of trust on their side), I'd say bitcoin is a long way away from dying from personal experience, and if the price is too low to pay for miners is because there are too many miners at any given time (look at china operations), at least that's what I think.