Will anyone admit that bitcoin is looking like a sophisticated ponzi scheme?

[Edward50]

Just wondering if anyone has changed their ideas yet about bitcoin?

All you have read over the last months and even today is people saying how you will get rich etc. To buy buy buy.

Pushing a digital coin which doesn't offer anything unique vs the other unlimited alt coins.

A digital coin that doesn't do anything better than fiat.

The ultimate sophisticated Ponzi scheme, so sophisticated you can even argue that it isn't a Ponzi scheme.

Anyone brave enough to admit it or will we only have the cheerleaders in here posting how bitcoin is going to the moon.

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[Meman]

Pump and Dump - yes
Ponzi - impossible by design

[Edward50]

Pump and Dump - yes
Ponzi - impossible by design

yeah I guess if you want to get technical with the definition, it is more of a pump and dump. Although it has a lot of similarities to a Ponzi Scheme.

[Ibian]

Go away ed.

[pungopete468]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).
 
Government currencies are ponzi schemes because when they collapse the central banks come out rich.

[twiifm]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).
 
Government currencies are ponzi schemes because when they collapse the central banks come out rich.

So wrong.  Commodities are priced on supply & demand.  Soybeans, oil, coal..all these commodities are priced on supply demand.  Not pyramid at all

Government currencies are not Ponzi.  Ponzi is taking in new investment money to pay earlier investors.  Giving them the impression the investment is profitable so they invest more money.

In fairness BTC is not a Ponzi either.  Its a pump & dump.  Early investors try to draw in new investors to drive up price so they can dump their holdings

[smoothie]

Watch BTC price bottom out THIS MONTH and go higher from here through the rest of the year. 

[Bit_co_i_n]

Hard to say. I don't think so  but the only one who can tell is Mr. Nakamoto ( or the inventors of Bitcoin whoever they are ).

But cryptocurrencies have attracted a huge ammount of lowlife and scammer. They surely do everything they can to turn it into one. It doesn't help.

[JHammer]

Ed what bank do you work for?

[pungopete468]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).
 
Government currencies are ponzi schemes because when they collapse the central banks come out rich.

So wrong.  Commodities are priced on supply & demand.  Soybeans, oil, coal..all these commodities are priced on supply demand.  Not pyramid at all

Government currencies are not Ponzi.  Ponzi is taking in new investment money to pay earlier investors.  Giving them the impression the investment is profitable so they invest more money.

In fairness BTC is not a Ponzi either.  Its a pump & dump.  Early investors try to draw in new investors to drive up price so they can dump their holdings

Is Bitcoin priced on a principle other than supply and demand? The pyramid scheme isn't imbued into the commodity being traded. The distribution of availability creates a pyramidal distribution. Each traded commodity has groups and organizations that drive the markets; look at gold, silver, and oil as examples.

The government ponzi doesn't ask for a voluntary investment; they do however take money to pay the earlier investors (treasury bonds being only one example). It is a Ponzi scheme, just one with the ability to force investment of wealth with higher taxes, inflation of the money supply, etc...

They then use the worthless fiat proceeds of this ponzi to manipulate tangible assets like real estate, gold, silver, oil, etc...

[MysteryMiner]

All you have read over the last months and even today is people saying how you will get rich etc. To buy buy buy.

Wrong. To get rich You must work work work!

Pushing a digital coin which doesn't offer anything unique vs the other unlimited alt coins.

Wrong again. Altcoins does not offer anything unique vs Bitcoin.

A digital coin that doesn't do anything better than fiat.

Really? Can I anonymously buy pound of ganja and get discount order on submachine gun and pay for the order with cash with two clicks of my computer mouse while stroking my penis with other hand? While remaining completely anonymous and untraceable? Bitcoin offers that freedom and efficiency. Fiat does not.

Bitcoin look more like Goatse than Ponzi scheme. And Bitcoin is not Goatse either. Bitcoin is Bicoin.

[herebittybittybitty]

What other ways are there to anonymously move money across borders? There is a high demand for this, and for now Bitcoin is the consensus method. Until something markedly superior comes along, Bitcoin will have considerable value.

[jonald_fyookball]

Just wondering if anyone has changed their ideas yet about bitcoin?

All you have read over the last months and even today is people saying how you will get rich etc. To buy buy buy.

Pushing a digital coin which doesn't offer anything unique vs the other unlimited alt coins.

A digital coin that doesn't do anything better than fiat.

The ultimate sophisticated Ponzi scheme, so sophisticated you can even argue that it isn't a Ponzi scheme.

Anyone brave enough to admit it or will we only have the cheerleaders in here posting how bitcoin is going to the moon.

Have you stopped beating your wife yet?

[twiifm]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).
 
Government currencies are ponzi schemes because when they collapse the central banks come out rich.

So wrong.  Commodities are priced on supply & demand.  Soybeans, oil, coal..all these commodities are priced on supply demand.  Not pyramid at all

Government currencies are not Ponzi.  Ponzi is taking in new investment money to pay earlier investors.  Giving them the impression the investment is profitable so they invest more money.

In fairness BTC is not a Ponzi either.  Its a pump & dump.  Early investors try to draw in new investors to drive up price so they can dump their holdings

Is Bitcoin priced on a principle other than supply and demand? The pyramid scheme isn't imbued into the commodity being traded. The distribution of availability creates a pyramidal distribution. Each traded commodity has groups and organizations that drive the markets; look at gold, silver, and oil as examples.

The government ponzi doesn't ask for a voluntary investment; they do however take money to pay the earlier investors (treasury bonds). It is a Ponzi scheme, just one with the ability to force investment of wealth with higher taxes, inflation of the money supply, etc...

Its based on supply demand.  But my reply was to correct the guy who said "all commodities are pyramids".  They are not.  A pyramid is you invest $100 and when you bring in 5 other investors you get $500 in return.  What I said was BTC is a pump & dump

I'll have to agree to disagree that's not what Ponzi scheme means so you can't apply that to govt currency.  In a Ponzi scheme is investors are paid on supposed profit but the money actually coming in from new investors

[Bitcoin.Greece]

Watch BTC price bottom out THIS MONTH and go higher from here through the rest of the year.  

+1 Exactly that

[jubalix]

BTC is not a Ponzi in any shape or form. The Protocol ensures that.

[pungopete468]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).
 
Government currencies are ponzi schemes because when they collapse the central banks come out rich.

So wrong.  Commodities are priced on supply & demand.  Soybeans, oil, coal..all these commodities are priced on supply demand.  Not pyramid at all

Government currencies are not Ponzi.  Ponzi is taking in new investment money to pay earlier investors.  Giving them the impression the investment is profitable so they invest more money.

In fairness BTC is not a Ponzi either.  Its a pump & dump.  Early investors try to draw in new investors to drive up price so they can dump their holdings

Is Bitcoin priced on a principle other than supply and demand? The pyramid scheme isn't imbued into the commodity being traded. The distribution of availability creates a pyramidal distribution. Each traded commodity has groups and organizations that drive the markets; look at gold, silver, and oil as examples.

The government ponzi doesn't ask for a voluntary investment; they do however take money to pay the earlier investors (treasury bonds). It is a Ponzi scheme, just one with the ability to force investment of wealth with higher taxes, inflation of the money supply, etc...

Its based on supply demand.  But my reply was to correct the guy who said "all commodities are pyramids".  They are not.  A pyramid is you invest $100 and when you bring in 5 other investors you get $500 in return.  What I said was BTC is a pump & dump

I'll have to agree to disagree that's not what Ponzi scheme means so you can't apply that to govt currency.  In a Ponzi scheme is investors are paid on supposed profit but the money actually coming in from new investors

It looks as if the communication broke down between us; I communicate very literally. When I wrote "It more closely resembles a pyramid scheme (but so does every other commodity ever traded)." I literally meant that every commodity is subject to the same uneven distribution. The majority of every commodity is in the hands of a few, then the pyramid forms on top of that.

When I mentioned the resemblance to a pyramid scheme I wasn't insinuating that the pyramid is formed from a malicious intent. Bringing in more investment capitol into any traded commodity will increase the potential return.

I will accept the "agree to disagree"  on the government Ponzi. When I look at a Ponzi scheme, I see a chain between the creator of a Ponzi and the rest of the investors; the money always funnels from the bottom towards the top. The Federal Reserve is a singular organization funneling value from everybody else. The income tax revenue is given to the Fed, the income tax is an involuntary investment which is used to pad the pockets of a single group. I consider that a Ponzi...

Income tax isn't used for any other purpose but to pay the Fed; every beneficial use of tax money is drawn from various Sales taxes or specific and separately defined employment taxes.

[Kenshin]

No, it is not a ponzi scheme. 

[LiteCoinGuy]

It more closely resembles a pyramid scheme (but so does every other commodity ever traded).

yep, like gold, silver and stocks.

[howzar]

Go away ed.

What an in depth and sophisticated response from this user