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Question: Do you support the banning of all "ponzi scheme" related promotions on this forum?
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Author Topic: Should All Promotions Of Bitcoin "Ponzi" Schemes Be Banned?  (Read 5030 times)
gigabytecoin
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March 29, 2011, 06:53:28 AM
 #1

Do you support the banning of all "ponzi scheme" related promotions on this forum?

Why or why not?
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deadlizard
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March 29, 2011, 07:08:35 AM
 #2

Do you support the banning of all "ponzi scheme" related promotions on this forum?

Why or why not?
The real question is,
"is a voluntary ponzi scheme really a ponzi scheme?"

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CryptikEnigma
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March 29, 2011, 07:17:09 AM
 #3

The only reason why ponzi schemes are banned is because central banks would like their own ponzi scheme (fiat currency) to be the only [ponzi] game in town. I do not see why bitcoin community should be concerned about this at all.


Truth.
JA37
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March 29, 2011, 07:26:07 AM
 #4

Why? Let the free market handle it. If it's not popular it'll die out...  Wink

Ponzi me: http://fxnet.bitlex.org/?ref=588
Thanks to the anonymous person who doubled my BTC wealth by sending 0.02 BTC to: 1BSGbFq4G8r3uckpdeQMhP55ScCJwbvNnG
epii
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March 29, 2011, 07:29:43 AM
 #5

If it's not popular it'll die out...  Wink

QFT  XD

I think the only thing necessary to make a pyramid/ponzi scheme "honourable" is for it to not hide that it is in fact a pyramid/ponzi scheme.

Vires In Numeris.
gigabytecoin
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March 29, 2011, 08:22:01 AM
 #6

The only reason why ponzi schemes are banned is because central banks would like their own ponzi scheme (fiat currency) to be the only [ponzi] game in town. I do not see why bitcoin community should be concerned about this at all.

That is preposterous.

Name one thing about fiat currency that is even close to a ponzi/pyramid scheme.

Are you speaking facts here or are you just angry towards the central banks?

I for one believe we should try to create somewhat of a legal/up-and-up business presence here on the main forum. And ponzi schemes are bad for business.

I'm not saying we should ban all talk of ponzi schemes. I suggest that we ban the promotion/solicitation of ponzi/pyramid schemes. The thousands of new guests coming to this forum might get the wrong idea by reading all of the references to "sign up to my ponzi scheme today!".
gigabytecoin
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March 29, 2011, 08:23:07 AM
 #7

Why? Let the free market handle it. If it's not popular it'll die out...  Wink

Why?

Because newcomers might get the wrong idea about Bitcoin. Is it really worth the damage it does to our image?
Akarbb
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March 29, 2011, 08:24:51 AM
 #8

Do you support the banning of all "ponzi scheme" related promotions on this forum?

Why or why not?
The real question is,
"is a voluntary ponzi scheme really a ponzi scheme?"

Yes, yes it is.
If it's not popular it'll die out...  Wink

QFT  XD

I think the only thing necessary to make a pyramid/ponzi scheme "honourable" is for it to not hide that it is in fact a pyramid/ponzi scheme.
Wrong

Ponzi schemes are immoral, they take advantage of people and ultimately, only the person at the very top of the pyramid ever makes any actual money.

http://en.wikipedia.org/wiki/Ponzi_scheme

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March 29, 2011, 08:26:22 AM
 #9

Fiat Money is sort of a Ponzi Scheme because it assumes constant economic growth every year along with the inflation which is simply unsustainable in the long run. It’ll all come crashing down and those who have access to central banks are the winners.

Anyway, I take this thread as an opportunity to promote this Ponzi Scheme for just 1 BTC. Cheesy

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
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deadlizard
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March 29, 2011, 08:27:41 AM
 #10

Ponzi schemes are immoral
is it lonely up there?

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CCCMikey
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March 29, 2011, 08:28:14 AM
 #11

Maybe they should be moved off to their own section along with other posts that are not good for the image - so NSFW, Ponzi, Weapons and Drugs; possibly with an acknowledgement box before entry?
epii
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March 29, 2011, 08:29:23 AM
 #12

Why? Let the free market handle it. If it's not popular it'll die out...  Wink

Why?

Because newcomers might get the wrong idea about Bitcoin. Is it really worth the damage it does to our image?

This is something I think we need to give more consideration to.  So many of Bitcoin's users seem to be individualists and on the political fringe - the sorts of people who say "I don't care what anybody thinks of me" - and while that's often a great attitude to take, there are times and places where it's not beneficial.  That sort of attitude could hurt the spread, and therefore the value, of the currency in which so many of us have invested.

I'd defend the ponzi schemes in the context that most of us here are like-minded and can easily take it as a joke.  But in order for Bitcoin to move forward, we might need to start looking a little less "fringey" in order to get normal people on board... the sorts of people who might not find ponzi schemes so funny.

Vires In Numeris.
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March 29, 2011, 08:30:37 AM
 #13

Maybe they should be moved off to their own section along with other posts that are not good for the image - so NSFW, Ponzi, Weapons and Drugs; possibly with an acknowledgement box before entry?

Or maybe we can just grow up and make choices for ourselves?

One off NP-Hard.
gigabytecoin
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March 29, 2011, 08:38:58 AM
 #14

Why? Let the free market handle it. If it's not popular it'll die out...  Wink

Why?

Because newcomers might get the wrong idea about Bitcoin. Is it really worth the damage it does to our image?

This is something I think we need to give more consideration to.  So many of Bitcoin's users seem to be individualists and on the political fringe - the sorts of people who say "I don't care what anybody thinks of me" - and while that's often a great attitude to take, there are times and places where it's not beneficial.  That sort of attitude could hurt the spread, and therefore the value, of the currency in which so many of us have invested.

I'd defend the ponzi schemes in the context that most of us here are like-minded and can easily take it as a joke.  But in order for Bitcoin to move forward, we might need to start looking a little less "fringey" in order to get normal people on board... the sorts of people who might not find ponzi schemes so funny.

+1 Well said!
CCCMikey
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March 29, 2011, 08:59:28 AM
 #15

Maybe they should be moved off to their own section along with other posts that are not good for the image - so NSFW, Ponzi, Weapons and Drugs; possibly with an acknowledgement box before entry?

Or maybe we can just grow up and make choices for ourselves?

Oh well. If BitCoin's own website is going to be used to advertise drugs and weapons; it's not really something the average person is going to want to associate with. I was suggesting acknowledging openly that such services are a possibility on BitCoin, but that it's not intended to be the primary reason to use them.
Alex Beckenham
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March 29, 2011, 11:51:38 AM
 #16

Ponzi schemes are immoral
is it lonely up there?

Hahaha, hey Akarbb I wonder, have you ever bought real estate and then sold it for a higher price? Left someone else holding the bag?

grondilu
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March 29, 2011, 11:58:47 AM
 #17

Ponzi schemes are fun, providing nobody is lying to you about what it is.

It's not worse than lottery or gambling, anyway.
Anonymous
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March 29, 2011, 01:14:47 PM
 #18

I prefer idearamid schemes in which the first person to think of an idea gets all the cash .  Cheesy
Jered Kenna (TradeHill)
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March 29, 2011, 01:54:08 PM
 #19

Ponzi schemes are fun, providing nobody is lying to you about what it is.

It's not worse than lottery or gambling, anyway.


I agree, if you conceal it then it's fraud, if you know what it is then it's an investment / gambling / a game or whatever.

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March 29, 2011, 02:17:38 PM
 #20

The idea that having the details available makes something completely voluntary and therefore moral really only works if everyone is highly intelligent.  Despite the fact that intelligent people (like, let's be honest--most of this community) have a tendency to treat intelligence as a measure of human value, the fact is it's not a crime to be born less intelligent.  So yes, I get the joke, and for a well-aware person a voluntary ponzi scheme is essentially a gambling game.  However, I personally don't consider it a crime for a person to be born less intelligent, and I think it's naive to believe that even a full-disclosure ponzi scheme won't snare an increasing portion of innocent victims as bitcoin grows.

I'm not in favour of rules banning the advertising of ponzi schemes because I think that goes too far.  However, I think the applicability of the "in-joke" that is full-disclosure ponzi schemes is naturally drawing to a close, and it's starting to be time for people to voluntarily reduce and eliminate their advertising of it.  If you don't start to pull back from it when there's a good reason to do so, then transparency or no transparency you've been "hooked" by the scheme yourself.  I'll say the same thing to you that I say to any other gambler, and to myself when I do gamble from time to time:  gambling is a type of entertainment that costs money.  Don't spend more on entertainment than your budget allows, and intend from the beginning to let your go of your gambled money graciously, whether you have won or lost.  Chatting around the roulette table and chatting around the ponzi scheme table are both enjoyable past-times, but the conversation ought to supercede the game.  My .02 BTC.

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