I think Bitcoin is the biggest bubble and ponzi in the universe or it isn't?

[skarais]

Trust me, whatever you think at the moment about bitcoin (ponzi scheme and bubble) is a stupid story you might know from those who disagree with the existence of bitcoin.

Bitcoin is not a giant ponzi scheme as you might think. The main reason is bitcoin never promises you and whoever buy will make a big profit. The price of bitcoin is based entirely on supply and demand, and it is only these people who determine the price. Bitcoin never hurts late adopters as both early adopters and late adopters alike will benefit if the price goes up. However, early adopters will get a larger portion because they are willing to buy at a low price. Would you also call bitcoin a ponzi scheme if you bought it for $5000 at the time?

OP, if you believe in a lot of stupid stories about bitcoin so far, take a moment to read more truth about bitcoin here. Myths of Bitcoin.

[1715032452]

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[SquallLeonhart]

why I call it a ponzi     because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........

why I call it a bubble    have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin  in a decade time?

even if you count it from $1 per coin  to over $60,000   that is over 6,000,000% return in investment 

what do you think?

Alright so you have called bitcoin a Ponzi, so do you think that it is going to die off anytime soon?
I can’t remember any Ponzi that has lasted this long and if you do know any of them maybe you should let me know.

The price is high like this and that’s because the volatility of bitcoin is very high so you’re going to be seeing huge increase like this, and it’s not going to be ending anytime soon, since there are so many investors coming in now, and at the rate they are coming now, the supply is going to be less to occupy them and that means that the demand will surpass the supply and that will lead to further increase of the price.

[BrewMaster]

what do you think?

i think that there is a search function on top of bitcointalk and there is also google. you should use it and search the nonsense you put here and see that every couple of months someone comes here with the same sob story about being a "late comer" and missing out on buying bitcoin cheap.
you think people weren't saying this when bitcoin was just $1000? they did' and they will continue saying it when it reaches $1000000 too. so you better get your head out of the sand sooner.

[mu_enrico]

@OP, it depends on where and to whom you ask. If you ask here in the bitcointalk community, obviously you will get the BTC to the moon kind of answer. Here we are Bitcoin supporters or at least enjoy using/owning BTC. If you ask Roubini-type of people, you will get "go away ponzi shitcoin" kind of answer. Let the time to answer your question.

[The Sceptical Chymist]

have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin  in a decade time?

In a decade?  I can't think of anything off the top of my head, but if you take a look at a long-term stock price chart for a company like Starbucks or eBay, you'll see crazy growth over a relatively short period of time.  Are those two stocks Ponzi schemes?  Nope.  And bitcoin isn't a Ponzi either; it's just an asset that's blowing up in value.

As far as the bubble thing goes....I'm not sure whether bitcoin is currently in one.  That's something you can usually only determine for sure after the bubble pops, and in hindsight it always seems pretty obvious that [pick your asset] was in a bubble.  I would add that unlike the price rise in 2016-17 which was led by individual speculators/investors, this current rise is at least partially due to large corporations accumulating it.  That doesn't mean that demand will remain high, but it probably means that a lot of bitcoin is going to remain off the market, which decreases supply.

But I'm really bad at predicting what bitcoin is going to do.  What I do know is that it isn't a scam or a Ponzi scheme (I initially thought that when I was watching it years ago but changed my mind once I figured out what bitcoin really is and why it's so different than other forms of electronic money).  Could be in a bubble, but we're going to have to wait and see for that.

[Bitstar_coin]

Do you think those who bought for example Google shares back in the days and now will have the same buy in price? Early adopters are benefiting because they believe while people like you where wasting time hating on btc, calling it ponzi just like you are doing now, don't waste your time posting negative because it won't change anything.

[ShowOff]

I can never agree that bitcoin is called a big ponzi scheme as the OP stated. Bitcoin is a decentralized asset that can't be controlled by any authority in the world so that users can buy and sell bitcoin as they wish. Afaik, bitcoin can be used as an asset that scammers use to run Ponzi scheme project as we have seen before.

Since the price of bitcoin is determined by the community, you don't have to say it like a ponzi scheme and I find that statement ridiculous. Regardless of the price that bitcoin can reach, I don't think you need to say it's a ponzi scheme. Bitcoin has never tricked us in a decade, it would be totally against the fact to call it a ponzi. Satoshi's idea actually worked to give us a different kind of financial freedom from fiat.

[blockman]

Do you think those who bought for example Google shares back in the days and now will have the same buy in price? Early adopters are benefiting because they believe while people like you where wasting time hating on btc, calling it ponzi just like you are doing now

There were a lot of haters and doubters even in the past. They don't like bitcoin and still ignores what it currently has.

don't waste your time posting negative because it won't change anything.

Totally, those early haters of bitcoin that has said a lot of negative words about it didn't just waste their time but also wasted the biggest opportunity that will change their lives a lifetime.

[skarais]

~~~

Actually the OP has answered his own question about his doubts. But someone has to clarify so that people don't assume bitcoin in the wrong way.

may be it is just my silly thought....

Bitcoin is of no use to anyone who hate it, but as users we get a really decent profit. I think the share of profits the early investor had is very fair because they were never promised a return of +6 million% from the start when they bought. I just regret never knowing when bitcoin was worth hundred of dollar. Lol

[Oilacris]

why I call it a ponzi     because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........

why I call it a bubble    have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin  in a decade time?

even if you count it from $1 per coin  to over $60,000   that is over 6,000,000% return in investment 


what do you think?

may be it is just my silly thought....

please comment.    thank you.

Well, this is a forum and anyone could really make their own inputs or insights on various things and i cant say that you're totally wrong but saying on the other side of things
then no ponzi would really last up for a decade and with that alone you can tell that this isnt the same to those ponzi that you had known or experienced.

This is a revolutionary project which does focuses on decentralization and anonymity which should be enough for you to tell that this one isnt a ponzi.

It does have relevant usage which could the entire community would able to enjoy and this is what makes popular.

[magneto]

If your logic was true then all stocks, bonds, and just assets in general would be considered a ponzi scheme. Heck, fiat and gold would both be considered ponzis.

There is one very simple reason that disproves all of this - bitcoin has utility as a store of value and a decentralised currency. Its value derives from adoption, and with adoption (retail or institutional) currently skyrocketing, there should be no surprises whatsoever that prices are following suit.

This argument against BTC has been debunked so many times that it's not funny.

[CarnagexD]

As if the newbies are the only way the people here are making money. Besides, bitcoin isn't your "get rich quick" scheme. It is a technology meant to revolutionize the currency world we came to know of. If you think of bitcoin solely as a way to get money, then you're probably new to the industry. Plus, a lot of people have been saying this bubble's going to pop. Yet we're at 63 and bitcoin hasn't even shown any signs of dropping in value.

[verita1]

Bitcoin is not a bubble. Most likely due to ignorance OP affirms this absurdity that some say or for wanting to create false ideas about bitcoin.
The price of bitcoin depends on the supply and demand, also on various circumstances but they are not predominant to end bitcoin.

Sometimes it can be frustrating to feel like you could have invested in bitcoin when the price was lower and is now too high to invest. However, the most accurate analysis about bitcoin is that it will continue its upward race, you have to consider before investing in bitcoin that it is an investment in the future.

Follow PlanB on Twitter for you to understand more about the bitcoin bull run.

https://twitter.com/100trillionUSD/status/1381867553824370689?s=19

[Renampun]

'Bitcoin is a bubble' is the mind of f*cking idiots...
I have been familiar with cryptocurrencies for almost 3 years, especially Bitcoin, and until now Bitcoin has never made me lose. those who think the earth is flat doesn't matter, those who think Bitcoin is a bubble doesn't matter either, please stay in the bunch of idiots.

[FanEagle]

why I call it a ponzi     because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........

Before calling bitcoin a ponzi, you must get aware of characteristics of ponzi schemes from this wiki page.
But, bitcoin works very similar to stocks where early buyers enjoy big profits due to their decisions of buying and holding. I am not seeing any differences from the characteristics of typical stock markets. Usually ponzi schemes makes its originator rich and to keep attracting new investors he pays to early people from the money we collected from late adopters. Is this how bitcoin market works? No originator (no central authority) and benefits both early and late adopters (based on their holding periods).

why I call it a bubble    have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin  in a decade time?

Getting into bubble period is the basic characteristics of every stock. Because, over-bought may happen because of hype and no one can be responsible for that but only investors' FOMO. So, bitcoin cannot be an exception.

All stocks and even gold valued in cents in beginning days and then demand decided the current price levels.

Please call all stocks and commodity a bubble if you are not still convinced.

[decodx]

why I call it a ponzi  ...

Yes, some people believe cryptocoins are ponzi schemes. But they aren't. Why? Mostly because they are legitimate investments which give you a legitimate return. If you believe Bitcoin is a ponzi, then all asset classes should be considered as ponzi schemes. If you don't know what asset classes mean, google it.

why I call it a bubble  ...

I remember reading an article in a business magazine recently. Anyway, one quote stuck with me:
"It is not always easy to explain why assets become expensive, but this does not mean that every risk in the market is about to burst."

[nightxglow]

Well i guess it's not suitable to be called ponzi, since bitcoin is noway like that. The latecomers have to pay for a big amount since the price is expensive already, however the value is still high, so no matter latecomers or newcomers, i think bitcoin is still valuable and not a ponzi. However, i can't deny the fact that bitcoin might be the biggest bubble though, since i agree with that. Bitcoin is vulnerable to burst anytime, and it's kinda scary. Though of course we know that it's high risk and high return, but it's too risky and bubbly. I hope it wont burst though.

[Mauser]

why I call it a ponzi     because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........

why I call it a bubble    have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin  in a decade time?

even if you count it from $1 per coin  to over $60,000   that is over 6,000,000% return in investment 


what do you think?

may be it is just my silly thought....

please comment.    thank you.

I don't think that bitcoins are a ponzi scheme. The bitcoin price has nowhere been near 1 USD or even 100 USD. Most of the people holding bitcoins at the moment have paid much more. For example I bought my coins when the price was around 10,000 USD. Sure the sellers made some money but now they feel bad for selling in the first place. A ponzi scheme is usually a few people who sell you something and promise higher returns in the future. No one is doing that with bitcoins.

[int03h]

If I say Bitcoin is Ponzi then it is the longest Ponzi I've known. Since Bitcoin is known to the public there have been many rumors and devaluations of Bitcoin, but they do not kill Bitcoin but make Bitcoin stronger. Bitcoin has so far reached $ 64,000. Bitcoin has been brought into their system by many payment units, many hedge funds actively bought in. Based on the above data Bitcoin cannot be Ponzi.

[el kaka22]

So by OP's logic, millions of people who bought bitcoin could be putting money into a bubble, or Tesla spending 1.5 billion dollars into a bubble, or wall street companies started to put money into a bubble, basically over 2 trillion dollar worth of marketcap all built on top of a bubble. I am not going to say that 60k+ price should be the correct one, it could be 10k or 100k and we do not know what the "value" of bitcoin is, so it will be whatever people think it should be, however one thing I am finding funny is that people think that we should all consider what they should consider and ignore tens of millions of people who do not agree with them.

Even if bitcoin ever drops to 1k dollar one day, that would be 1000x increase from 1 dollars, and we are over 64k right now, think about how much it would have to drop just to have 1000x, that means maybe you could be wrong about this.