Is Cryptocurrency One Big Ponzi Scheme?

[jcarlo]

The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme?  Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking. If you don't agree with me on this, please share your thoughts...

I think bitcoin is different with ponzi scheme. Bitcoin dont have a CEO or team to collect money in market and we know that bitcoin is decentralized cryptocurrency. I am believe if bitcoin is a ponzi scheme, bitcoin can not survive for 10 years.

[iMark]

I don't think how the cryptocurrency works is close to a one big ponzi scheme. Both works differently and you earn money in a different way. And cryptocurrency is a proven source of money. While ponzi schemes are manage by huge scammers.

I like what you said, the believe is yet to be notified that bitcoin as a whole has really made many people rich today. I am not exemptional I have gain alot in Cryptocurrency and more to be gain. Let's not just keep believing crypto is a Ponzi.

bitcoin is not profitable only for old users you know, but even for new users. anyone can get big profit in bitcoin. different from the
ponzi scheme which is profitable only for old players, in Bitcoin anyone can profit depending on your skills

[jerrison]

one of the traits of ponzi schemes are that they do not last for long, in most cases they only last for a year or two but in the crypto space we have been rocking and rolling for more than a decade and there is still no sign of anyone complaining about anything or what  has or has not eloped with his or her resources. now that can only be blockchain technology.

[ethereumhunter]

The answer is a big NO. Bitcoin is not a Ponzi scheme although the price is volatile. But I don't think with the other coins because they could be a big Ponzi
Let's get positive thinking about bitcoin because so far, bitcoin helps us to gain benefits and we can make money from bitcoin and altcoin, so we don't have to say bitcoin is a Ponzi scheme.

[virasog]

I don't think how the cryptocurrency works is close to a one big ponzi scheme. Both works differently and you earn money in a different way. And cryptocurrency is a proven source of money. While ponzi schemes are manage by huge scammers.

I like what you said, the believe is yet to be notified that bitcoin as a whole has really made many people rich today. I am not exemptional I have gain alot in Cryptocurrency and more to be gain. Let's not just keep believing crypto is a Ponzi.

Exactly, if you know how to invest, how to trade or even how to gamble you can earn good money from bitcoin. Even if you do nothing and just hold the bitcoins and altcoins, you can get profit too.
Those who say that bitcoin is a ponzi scheme ,actually know nothing about it.

[minhlee95]

I have been in the cryptocurrency world for too long and studied bitcoin too well to understand that it is not a fraud. Therefore, I do not believe in such statements. People say this either because of skepticism or despair.

[thankyoulord]

cryptocurrency is not a ponzi scheme. It is a means of investing in an idea which one believes has great potential to grow. for ponzi you need referrals and the more referrals you get, the higher your rank and money you get but for cryptocurrency, you are presented with an idea which seeks to give a solution to an already existing problem or you are given an opportunity to invest in an idea which is being introduced for the first time into the world and when this idea grows your investment also grows. Is like buying shares in a company.

[PeRo]

Cryptocurrency as a whole is not a Ponzi scheme, Bitcoin is firstly a legitimate cryptocurrency as well as other alternatives which have many users and are in good standings on the market. However, there are many alternative cryptocurrencies on the market and there are far too many of them which are ponzi schemes. Creators of those coins saw Bitcoins success and thought that they can get a lot of money if they get people to invest in their coin which may seem legit, but they are far from that.

[trashman43]

The basic underlying idea behind the use and creation of cryptocurrency is to present financial freedom to everybody no matter where you find yourself in this world. But the volatile nature of these digital currencies got me thinking, what if the whole idea of blockchain and cryptocurrency is just one giant Ponzi Scheme?  Within a short period of time, there have been about thousands of cryptocurrencies created. Majority of these digital currencies are either trying to solve problems of a particular cryptocurrency by presenting solutions they think can help improve financial freedom. This usually gets me wondering and thinking. If you don't agree with me on this, please share your thoughts...

Your assumptions are quite ridiculous to think cryptocurrency is a ponzi scheme.  I think you should spend some time researching and reading about blockchain  technology, this will help you understand some basic features of this technology. The volatile nature of cryptocurrencies is as a result of the decentralized nature of blockchain technology, giving users the opportunity to set their own price at which they want to trade their coin. This is the main cause of the fluctuations in the market value of a particular crypto coin. Cryptocurrency is never a ponzi scheme.  

[BeGoods]

I don't think how the cryptocurrency works is close to a one big ponzi scheme. Both works differently and you earn money in a different way. And cryptocurrency is a proven source of money. While ponzi schemes are manage by huge scammers.

I like what you said, the believe is yet to be notified that bitcoin as a whole has really made many people rich today. I am not exemptional I have gain alot in Cryptocurrency and more to be gain. Let's not just keep believing crypto is a Ponzi.

it is very clear that the ponzi system is very different from bitcoin. you're right anyone can get profit without exception. it's just that you need knowledge and skills to be able to profit. bitcoin is not profitable only for a few individuals. but provide opportunities for all investors

[goldexp83]

You should understand first what is a ponzi scheme and how it actually operates

crypto is definitely not a ponzi if has a transparent and auditable blockchain

but of course we had stuff like bitconnect in thee past,  so research and understanding is needed

scammers create these dodgy ponzi schemes to take advantage of noobs

[proTECH77]

Though series of definitions concerning Ponzi Scheme has already been defined but i will like to chip in this; decentralization to my understanding doesn't permit Ponzi Scheme unlike the centralization which is most popular among the traditional Scheme. Bitcoin is a volatile cryptocurrency and not Ponzi Sheme.   

[MainIbem]

Cryptocurrency is not and cannot be compared to a Ponzi scheme. Yes, there are Ponzi schemes using cryptocurrency but cryptocurrency itself is not a Ponzi. The concept of cryptocurrency has a wide appeal that is why people are rushing to invest in it. Unfortunately, smart programmers have caught in on the freedom of the blockchain to create shitcoins, extorting money from people who have put their trust in cryptocurrency.

[XFlowZion]

This has been tackled many, many times in the few years that has passed and it is completely false. There might be a lot of crypto and particularly icos that is a ponzi right from the starts but that's because scammers see it's an easy way to steal a lot of money. But the others like btc, eth and eos are here for improving the life of every people.

[sempak]

I disagree if you say that cryptocurrency is a ponzi scheme because now the fact is that people have proven 10 years of cryptocurrency right now. and still exist
but indeed there are some projects that aim at ponzi schemes and money games using bitcoin

[Savemore]

There is a misunderstanding that is really happening in our society nowadays. Because of the false information that keep spreading, there are people who thinks that cryptocurrencies is a big ponzi scheme. They do not understand how volatile is it and it is the reason why they keep saying it is a scam.

[crossabdd]

in fact, all have a value of 0 (zero), and all have value because they are valued. Ponzi schemes are systems, and Bitcoin is technology. Bitcoin will not have value, if not valued. Bitcoin is only a container for storing or storing fiat. so there is no ponzi system in it. if the ponzi has a leader / boss. bitcoin doesn't have that. all bitcoin users are bosses. private owner. without downline or upline.

[wxa7115]

I am very sure that your main reason for thinking that cryptocurency is a ponzi scheme as to do with the fluctuation in its prices. Ponzi scheme normally does not have relevant key mains and principles in terms of its way of operation. Blockchain is the tool and cryptocurrency is just a digital currency that allows the user using the blockchain to operate and provide services with this tool. The changes in the price of crypto is as a result of the decentralized nature of the blockchain technology. people decide on the price they want to sell their crypto coin, and affects the value of the coin. Cryptocurrency is no ponzi scheme.

The ones that run Ponzi schemes most of the time promise high rates of return in a short amount of time, bitcoin does not do that because there is not a central figure that can make those promises to begin with, so bitcoin is just being traded back and forth in a free market in which people need to assume the responsibility of their actions, if you invest or trade in this market and you lose it is easy to complain about the market being a ponzi scheme but that does not make it so.

So wee need to see those complains by what they really are, people that are just upset they lost money in the market and are trying to blame someone else for their mistakes.

[livingfree]

Some big ponzi operators abused the real use of cryptocurrency. Yes, it should be solving financial problems, transactions and waiting time which has been done on a purpose but with those features, these scammers took advantage of it and ride the popularity of crypto. I think they really are everywhere and as long as there's money flowing with that market, they'll scam people. But the idea of got you thinking that cryptocurrency is a big ponzi scheme? don't literally think of that. Some projects are real ponzi but don't generalize it.

[cahbagus555]

I am very sure that your main reason for thinking that cryptocurency is a ponzi scheme as to do with the fluctuation in its prices. Ponzi scheme normally does not have relevant key mains and principles in terms of its way of operation. Blockchain is the tool and cryptocurrency is just a digital currency that allows the user using the blockchain to operate and provide services with this tool. The changes in the price of crypto is as a result of the decentralized nature of the blockchain technology. people decide on the price they want to sell their crypto coin, and affects the value of the coin. Cryptocurrency is no ponzi scheme.

The ones that run Ponzi schemes most of the time promise high rates of return in a short amount of time, bitcoin does not do that because there is not a central figurer that can make those promises to begin with, so bitcoin is just being traded back and forth in a free market in which people need to assume the responsibility of their actions, if you invest or trade in this market and you lose it is easy to complain about the market being a ponzi scheme but that does not make it so.

So wee need to see those complains by what they really are, people that are just upset they lost money in the market and are trying to blame someone else for their mistakes.

Bitcoin price rising because market mechanism or demand and supply. People speculate on bitcoin price and gain from the price speculation. I dont think bitcoin is ponzi scheme because there is no pyramid scheme or central figure can control bitcoin