Boris Johnson calling Bitcoin a ponzi scheme

[gunhell16]

At first I also thought that Bitcoin was a Ponzi scheme, because imagine that we will use money to buy it even though we do not have it in our hands; then the investors only hold one reason why they will invest, and that is that the value will increase; there is no other reason.

But later on, with each passing day, I also realized that if Bitcoin is a Ponzi scheme, then why did its value increase in the market, and why was it even more enjoyed by rich people, and why did even other countries adapt it? These are just a few of my questions as to why I have stayed here until now.

[Ziskinberg]

Well for those who have never got the chance to know and understand bitcoin well, they are free to call it a ponzi scheme, but should we be affected? Definitely no, especially if we have known bitcoin and experienced on our own self how to be profitable with it, and there's no signs of being a ponzi scheme there, just a risky but a worthy investment in the end.

However, the way we see bitcoin today, not everyone will accept and recognize it. Some people will always see it as a bad investment, because they are anti-bitcoin and its also their right to criticize bitcoin the way they see it.

[viljy]

To some extent, any asset can be called a ponzi, but this does not mean that this asset is one. But what can be said for sure (based on historical experience) is that one should be extremely skeptical of everything that a statesman named Boris says or does. Such rulers appear in the most difficult times of great changes and the results of their rule are tragic. Boris Godunov - The Time of Troubles. Boris Yeltsin - the collapse of the USSR. Well, Boris Johnson's deeds are already well-known. Should I believe the statements of such a person?

[betswift]

To some extent, any asset can be called a ponzi, but this does not mean that this asset is one. But what can be said for sure (based on historical experience) is that one should be extremely skeptical of everything that a statesman named Boris says or does. Such rulers appear in the most difficult times of great changes and the results of their rule are tragic. Boris Godunov - The Time of Troubles. Boris Yeltsin - the collapse of the USSR. Well, Boris Johnson's deeds are already well-known. Should I believe the statements of such a person?

Nah. Only expand onto them and verify the info they say altogether twice or thrice.

Politicians know how to pour honey, but not concrete facts.

[retreat]

Does he understand what a Ponzi scheme is? Bitcoin isn't a company selling investors promises of incredibly high returns. There's no central entity managing funds or paying out profits from new participants' money - there's just an open market that determines prices through supply and demand. In any case, a Ponzi scheme is irrelevant in this context. He should learn more about this before commenting, as it's ridiculous for someone like him, yet he doesn't grasp such a simple concept.