Ponzi scheme and Bitcoin

[Lanatsa]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

Not always the outcome and price of btc can be affected if the said funds of said schemes are way too big enough to affect the entire market.
Yes, we have seen in the past on how Bitconnect scam do affect but it isnt really that a serious thing to think of yet price can anytime
recover after such event.Talking about ponzi scheme rates, i can say that they are much more lesser that this year but not totally being shutted down.

[davinchi]

Well, there could be one way of affecting the bitcoin price which would be the scammers selling their bitcoin to fiat currency and running away with it?

However, that doesn't equal to a "ponzi schemes equals bitcoin drop" type of deal, that is not how it works. It "may" affect the price, but it all also depends on how much people are hyped and want to buy, you can sell 1 billion dollars worth of bitcoin all at once but then as long as there are people who would like to buy 1 billion dollars + 1 dollars the price will go up.

Numbers were just made up for a bigger and more easily understandable example, of course nobody can sell 1 billion dollars worth of bitcoin but even if they do, we won't be buying that much back that quickly. Plus, even if ponzis sell their coins, we eventually buy it back so it is not in their hands anymore and we would be safe.

[romero121]

When we talk about ponzi schemes, most were related with bitcoin for the promotion purpose. Some understand it in the right way that there is no relation between bitcoin and the ponzi. Some receives a misinterpretation which is the cause for having some bad image for bitcoin from the common people who are much interested into bitcoin and other cryptocurrencies investments.

[boris singer]

depending on the scale, a ponzi scheme as large as a plustoken can cause speculators to panic for each of their large fund transfers, and eventually sell large chunks some time afterwards. Scam businesses like this have never been seen selling every small part because of activities that are always tracked. even if most of the funds are sold in ethereum and cause bitcoin to rally a small increase. But speculators understand that it only lasts a while before finally falling sharper.

[exstasie]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

Humans are constantly trying to explain everything around them. That's why when price rises or falls, they desperately search for the nearest news event in an attempt to understand what happened.

So when price spiked above $10K in October, it must have been the Chinese president hyping up "blockchain" that caused it, right? And now that price dumped to further lows, everyone is latching onto this Plus Token scam. So predictable!

Do these events affect price? Sure. Are they the ultimate cause? No. Supply and demand is way more complex than that. A lot of traders and investors are taking profit or shorting the market for the same reason the Plus Token scammers are cashing out. That's what you do after an explosive rally: you take profits and hedge cash value.

[pixie85]

Every month new Bitcoins are mined and sold on the market which creates a downwards pressure. Something like a ponzi dump can increase this pressure and make the price drop but does it really matter?

For every sold coin there's a buyer. Don't think that when somebody is dumping he's throwing the coins away. People are ready to buy at every level and the greater the dump the more buyers there will be. Short-term price doesn't matter!

[Wexlike]

Every month new Bitcoins are mined and sold on the market which creates a downwards pressure. Something like a ponzi dump can increase this pressure and make the price drop but does it really matter?

For every sold coin there's a buyer. Don't think that when somebody is dumping he's throwing the coins away. People are ready to buy at every level and the greater the dump the more buyers there will be. Short-term price doesn't matter!

We're currently building the foundation and launch pad for the next rally. So enjoy while it lasts.

[sunsilk]

The effect would be minimal and I think we're done seeing that. When these scammers start selling the stolen bitcoins, there are investors that are already automatically waiting for a sudden dip for which they jave conducted an auto buy order.

This is the cycle and it will be an unstoppable cycle.

[acdc]

I think the collapse of a Ponzi scheme will affect the price of bitcoin but it's not much. There will be some panic investors and sellers but they are not the majority of investors in the cryptocurrency market.
In the history of the cryptocurrency market, I've seen hundreds of scams, typically bitconnect, but the market is still standing and growing.
Bitcoin is a strong currency and I believe that people still believe in bitcoin despite hundreds of ponzi scams.

[bitcoindusts]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

It would definitely affect the price of Bitcoin (Crypto Ponzi scheme collapsing)  in a good way.  Many had stayed away from Bitcoin because of this scam company.   Once it is routed and the integrity of cryptocurrency is established, it will definitely attract more investors and enthusiast in crypto community thus creating more demands for Bitcoin and as a result it will affect Bitcoin market positively.

[TIDOVEE]

There are different Ponzi scheme in existence, some will never have an influence on bitcoin because it is in no way attached to bitcoin.
There are ways in which some bitcoin traders have made bitcoin Ponzi in many countries, the run their trade with those who doesn't even know how it is done, they get money from them trade with it. That also has very little way of affecting bitcoin. If only the trader is very wealthy in bitcoin.then, they have influence on the price.
The Chinese plustoken is well attached to bitcoin and it's high effect on bitcoin is not least expected.

[deisik]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns

Scams like Ponzi schemes are unlikely to affect Bitcoin significantly. To put it differently, do regular scams, let's call them dollar-only, affect the dollar valuation when they close the shop? Apparently, not. But it is essentially the same with Bitcoin as these shops don't affect or undermine the cryptocurrency infrastructure itself. However, this is not the case with cryptocurrency exchanges, especially the biggest ones. If Bitfinex was able to push the prices up many times all the way to 20k, it should also work in reverse as well, and it does indeed

The bottom line is that we should care about semi-legit exchanges, not so much about outright Ponzi schemes

[karanggatak]

I think the current decline in bitcoin has nothing to do with the fall of the Plustoken Ponzi scheme. because the tokens do not pair directly with bitcoin. there is a possibility that some of the investors will move their assets to bitcoin but that value will not be too large, so it will not have an impact on the price of bitcoin. because the bitcoin market is bigger and stronger. bitcoin decline is now common.

[shoreno]

collapse in what way  ? when they are destroyed and got busted  ? or collapse when the investors put in thier money and it suddenly declared as  a scam  ?   either way , both can still affect the price of bitcoin   .

the first one can affect the price in a good way because if ponzi's got busted , people will now only invest on the original btc but if people got scam by a ponzi  , chances are people will scared to invest in crypto related stuffs such as bitcoin

[Reid]

Did the collapse of PlusToken really affected the bitcoin price?
Is there any proof into it?

We are all just speculating here that it did but we ain't really sure.
We are just looking for a reason of every dump and pumps that is happening all over every crypto currencies.
Some says it was Ethereum which was affected the most but looking at its value there is not much changes at all.

I guess we could say, it doesn't really bother the value.

[Jating]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?

There was some speculation, but I don't think that the price will be affected long term.

Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

Again, we have seen a lot of Ponzi scheme in the past, billions worth, but BTC still remains dominant as it used to be. Because investors really know that bitcoin is the best investment and not those Ponzi scheme. It could impact the price, but not so much in the long run.

[alexsandria]

Well, it could be temporarily. Besides it would depend on how huge the allocated cyptos are. Indirectly speaking, many people avoid crypto currency because of these circumstances they are being prevented by fear of losing money with this fraudulent ambitions. Thus, potential crypto enthusiast, might be a trader or investor gone decreasing because of this. What I mean, is the potentiality.

[BitcoinHunt3r]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

It happen in past maybe, when double investment site really popular. Bitcoin price really down, but don't know because of that or anything else. But i still remember a lot of ponzi sites appear and with it's promo and then end, 1 end, the others come. Maybe after that people really aware with something like that. Maybe only a few player which still make investment in that kind of sites.

[Silberman]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

That will definitely create a market distortion but it is one that will be very short lived so there is no reason to worry and if anything it could be a good chance for those that are looking to buy bitcoin for the best possible price to take advantage of the situation and accumulate as much bitcoin as their capital allows them, you should always be looking at everything that happens as an opportunity and try to see how you can benefit out of it and that would be a great opportunity to buy bitcoin.

[Febo]

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

When Bitcoin change owner on long term nothing changes. There is not any more Bitcoins in existence. So there is no reason price on longterm should be any different. It can be different on long term because of FUD.