Is cryptocurrency a ponzi?

[btcoin]

Under pozni you mean that crypto being created just for earning money? Well maybe most of shit coins are being created with this mission but I think there is true useful and worthful projects.

[yla1974]

What do you give the word Ponzi? I think so the question will be put more clearly. Does the world have crypto currency, manipulation and fraud? My answer is yes. But this does not mean that the crypto-currencies and their creators are to blame for this. As light attracts night butterflies, so money beckons scammers. It is inevitable.

[gloomyz]

Still, what I don't get is why we have too many digital assets trying to solve the same problems. Yeah, I get it blockchain is immutable, but most of these projects make crypto look bad.

IMO, it simply looks like the attempt of some whales to scale up their portfolio in BTC and possibly ETH or other more credible platforms.

We see new projects almost every day; and across their community groups (especially telegram) the most audible comments are 'when exchange...', 'when Binance...' As if that's all that really matters.

I may not have the facts, but my gut says well over 50% of these assets aren't faring well. And these are people's investments.

Is there something that could be done about upcoming ICOs with nothing to show (no MVP), to reduce the risks of investing in projects that will just flop?

Comments like "when exchange...", "when Binance...", "when lambo..." etc are mostly from airdrop recipients who got something for free and don't really take the time to research the project

But you're right a lot of the projects are just different versions of the same concepts

Of course every projects needs rivals with same concepts
It is just like a proof that the concept is needed and worth it for modern people live and will be exist for long time

[the13thsymphony]

If what you mean if the whole cryptocurrency market is just a ponzi scam then you are very wrong, only the ICOs that would want to have your money are and that is why it is important that you evaluate said ICOs to at least minimize the risk of you getting scammed while investing to such projects. Though it is true that as of not one of the reason of distrust and negativity in the crypto space is due to such scams it can be prevented if an investor would only take time to investigate and evaluate these projects.

[Bezobraznike]

If what you mean if the whole cryptocurrency market is just a ponzi scam then you are very wrong, only the ICOs that would want to have your money are and that is why it is important that you evaluate said ICOs to at least minimize the risk of you getting scammed while investing to such projects. Though it is true that as of not one of the reason of distrust and negativity in the crypto space is due to such scams it can be prevented if an investor would only take time to investigate and evaluate these projects.

Cryptocurrencies are not ponzi schemes, but some are. Just recently we had situation with bitconnect, do you remember, many people lost a lot of money cause they believed in that. Owners and people close to them cashed out on 400$ and after that coin dropped hard to just couple dollars, I don`t know where it`s now I didn`t hear nothing in last couple months, I will check it out I`m interested to know what is happening with that.
When people don`t have arguments against cryptocurrencies, they start to talk how its a big ponzi scheme, they are very wrong about it, but let them be, we can`t do nothing about it.

[manwithsuit909]

Still, what I don't get is why we have too many digital assets trying to solve the same problems. Yeah, I get it blockchain is immutable, but most of these projects make crypto look bad.

IMO, it simply looks like the attempt of some whales to scale up their portfolio in BTC and possibly ETH or other more credible platforms.

We see new projects almost every day; and across their community groups (especially telegram) the most audible comments are 'when exchange...', 'when Binance...' As if that's all that really matters.

I may not have the facts, but my gut says well over 50% of these assets aren't faring well. And these are people's investments.

Is there something that could be done about upcoming ICOs with nothing to show (no MVP), to reduce the risks of investing in projects that will just flop?

50/50
some are some are not
same thing happen when stock first comes out
there are ppl that will take this advantage to make it a ponzi

[catapult]

Unfortunately, there are tons of ponzi coin in the world of the cryptocurrency, but on the other hand, we have been seeing the success of many altcoins. I think the best thing to do is that, finding the best options and trusting the strong coins.

[Kevin77]

What do you give the word Ponzi? I think so the question will be put more clearly. Does the world have crypto currency, manipulation and fraud? My answer is yes. But this does not mean that the crypto-currencies and their creators are to blame for this. As light attracts night butterflies, so money beckons scammers. It is inevitable.

The definition of a ponzi "is a form of fraud in which a purported businessman lures investors and pays profits to earlier investors using funds obtained from newer investors". - curbed from Wikipedia.

Now, if we are to relate this definition to cryptocurrency, no one is forcing anyone or deceiving anyone to invest, but it is a choice. Secondly, there is a value for what you want to invest in when it comes to cryptocurrency which is the fact that with it, you can make faster transactions globally without a third party and this is one great value among others as far as I am concerned, which is one thing ponzi will never give you.

Ponzi implodes over time as it would not be able to sustain itself, so we can say shit coins may be a ponzi, but not the entire crypto world and most especially for projects with great products.

[ashmodeus]

Still, what I don't get is why we have too many digital assets trying to solve the same problems. Yeah, I get it blockchain is immutable, but most of these projects make crypto look bad.

IMO, it simply looks like the attempt of some whales to scale up their portfolio in BTC and possibly ETH or other more credible platforms.

We see new projects almost every day; and across their community groups (especially telegram) the most audible comments are 'when exchange...', 'when Binance...' As if that's all that really matters.

I may not have the facts, but my gut says well over 50% of these assets aren't faring well. And these are people's investments.

Is there something that could be done about upcoming ICOs with nothing to show (no MVP), to reduce the risks of investing in projects that will just flop?

well
just a stupid people asking like that
a shit people ,
i also wander , why their invest on some project ,if they cant waiting about the project going well.
so basicaly people just think like this
ico start > invest > ico end > got some exchange > sell > find another > back to step 1

[upsidedown75]

Under pozni you mean that crypto being created just for earning money? Well maybe most of shit coins are being created with this mission but I think there is true useful and worthful projects.

One thing about this life in general is that, as you are profiting from something, someone else is paying for the value of what you are profiting from. In this case, this is where the currency aspect of crypto comes in and the differences we have when comparing to fiat.

Ponzi is a pyramid scheme and it is just more like people deceiving themselves over something that no one is getting value for except to be using the down line to pay the up line and so on; this is not the case with cryptocurrency.

[go4crypto]

Some crypto projects like bitconnect and many of its copycats were sure ponzi schemes. Most ICOs projects, whether good or bad, are not ponzis as such.

[ning_aric]

Cryptocurrency ain't no ponzi,  cryptocurrency is a real business just like trading in forex exchange,  although some ico act in such a way as ponzi but that doesn't mean you will generalize all cryptocurrency as ponzi,  I could remember bitconnect , it acted as a ponzi then

[krauzzer02]

Read the whole context of the Op, not just the title people, of course, some of them are just Ponzi's having the same specs from another altcoin but claims they have better features and a wide scale of adoption with a lot of promises to its investors well it is good to have some better option but to the extent that some ICO ignores their community, full of excuses to their delays and their exit scams are so tiring that damage the crypto, for the groups we have common people from bounty and airdrop asking the same thing over and over again from their telegram channel they will be gone once they've dumped their holdings.

[suzanne5223]

There's nothing we can do to eliminate fake or ponzi project but if the cryptocurrency investors, traders and communities educate themselves about how to choose genuine project once the fake ones we quit if they don't get the attention of people.

[hulla]

Firstly, cryptocurrency is not ponzi and we both know that there are some people who choose to abuse the features of blockchain and cryptocurrency technology.
Meanwhile, what we have to do is fish out the fake or ponzi project our and this is what I expect the US SEC and regulators to do rather KYC implemented.

[djkyno]

No of course, cryptocurrency is real currencies used online and in many cases offline too to buy/sell services and goods, and to complete the trades. There isn't any relation between the Ponzi scheme and the crypto world. You should learning more about cryptocurrencies before asking such questions, and this forum can help you to get the essential knowledge about crypto.

[Abeleez]

I don't understand honestly when people try to make a connection between cryptocurrency and Ponzi scheme. The connection doesn't exist completely. Cryptocurrency is not a Ponzi scheme and never will be. Can you believe that the blockchain technology is not a reality? These are technology is a byproduct of the cryptocurrency emergence.

[Aptekary]

There's nothing we can do to eliminate fake or ponzi project but if the cryptocurrency investors, traders and communities educate themselves about how to choose genuine project once the fake ones we quit if they don't get the attention of people.

perhaps the adoption of certain laws and the legalization of the crypto currency in certain countries will make real opportunities for crypto currency in general for world popularity and use by society.

[batang_bitcoin]

Under pozni you mean that crypto being created just for earning money? Well maybe most of shit coins are being created with this mission but I think there is true useful and worthful projects.

Ponzi creators did used and abused the essence of crypto's by using it with their schemes and we can't deny that some of those altcoins are also being done that way.

Remember Bitconnect? that's how these scammers are using and abusing crypto's for their own good. And this created a bad image to crypto's and the reason why many are scared of entering and investing here.

[limmousine]

indeed some altcoins adopt ponzi schemes, but they don't last long, for example, bitconnect. if an ico does not have an MVP it does not mean that it is a ponzi scheme, that ico which has MVP alone cannot necessarily succeed or reduce losses, there is no connection between MVP and success.