World Bank Report: Bitcoin is a ‘Naturally Occurring’ Ponzi

[Djo]

http://www.coindesk.com/world-bank-report-bitcoin-naturally-occurring-ponzi/
Do you believe it ?

[AliceWonder]

It's not a ponzi, they are mis-using ponzi.

Something being a bubble doesn't make it a ponzi.

There is quite a bit of speculation with bitcoin, but it has more in common with trying to predict what stocks are going to increase in value than a ponzi scheme.

Whether bitcoin is currently over-valued or not I don't know.

It's impossible to mine without significant investment and the price is higher than I want to pay to invest in as investment, but i'll take it in trade for stuff.

Personally I'm beginning to believe that "the coin" that will have the best utility will be an altcoin that has a lot in common with bitcoin but has adjusted for some of bitcoins failings (like 10 minute blocks, too long). It's hard to get it right the first time, but bitcoin did a damn good job.

If an altcoin or three takes off, bitcoin will fall because those speculating on a limited coins supply and increasing demand for crypto-currencies will realize the limited coin supply isn't as limited as they thought, new comers will simply use a stable alt coin.

I suspect this fall will not be a crash though.

[Ron~Popeil]

Sure, if you stretch the definition of ponzi to include market bubbles. This is just a creative way to get the words bit coin and ponzi together without having to directly accuse anyone of anything. Typical bank fud response. 

[Bit_Happy]

Sure, if you stretch the definition of ponzi to include market bubbles...

They stretched the definition too far and produced statements with no intellectual honesty. It is much more accurate to say that "Bitcoin is a popular vehicle for excess speculation" or "Bitcoin is not a Ponzi, but does have some fascinating similarities".

[Cicero2.0]

Sure, if you stretch the definition of ponzi to include market bubbles...

They stretched the definition too far and produced statements with no intellectual honesty. It is much more accurate to say that "Bitcoin is a popular vehicle for excess speculation" or "Bitcoin is not a Ponzi, but does have some fascinating similarities".

Kind of predictable for this kind of organization. Sadly people will see bitcoin and words like ponzi, terrorism, and money laundering in the same places and miss the boat that could really enrich their lives in the future. 

[monsterbitty]

They are absolutely wrong.

Bitcoin is not a ponzi or will it be. It is just a currency going popular but in short time.

[Yakamoto]

There was a Ghandi quote in there that went along the lines of "First they ignore you, then they laugh at you, then they'll fight you, then you win." Seems to sum up Bitcoin's current situation eh?

They're very wrong about it being a Ponzi, they seem to not know what the definition is. Goes to show how good the schooling is these days.

This is definitely the "They will fight you" time in Bitcoin's history, as we've been ignored and laughed at, and now we're picking up steam and they want to fight and stop us from winning over the populace. In fact, I even have some ways to win the populace over to our side, I'll introduce them to and then onto the forum if they decide to ride along with us.

Don't worry, we've nearly won the battle. Don't be cocky, but continue what you're doing now. Push for BTC acceptance and publicise it. Don't let the Banks or anyone else beat us. Strengthen cryptos and their changes to society. There's almost no way we can lose, as we're too fast and strong for them.

To the moon!

[knight22]

They are confusing bitcoin and USD with their ponzi comparison 
https://www.youtube.com/watch?v=iFDe5kUUyT0

[jubalix]

http://www.coindesk.com/world-bank-report-bitcoin-naturally-occurring-ponzi/
Do you believe it ?

central banks are an un natural PONZI scheme of pyramid debt issuance without competition.

and this banking chap has no idea.

snip

“One of the most recent cases of bubbles occurred in the new ‘Bitcoin’ experiment. Bitcoin is a cryptocurrency; the main and original attraction of which is the low transactions cost associated with its use. One can buy bitcoin the way one can buy euros and trade freely with others having euros. Trouble started when people began speculating that the value of bitcoin would rise, thereby raising the demand for bitcoin and making the value-rise a self-fulfilling prophesy. In other words, what we witnessed recently in the bitcoin phenomenon fits the standard definition of a speculative bubble.”

no that's not the main attraction by far.

the main attraction proposition is the money/value is

• un seizable,
• can not be devalued by printing more fiat money.
• can be sent to the most favorable jurisdiction.
• no currency controls, want to move 100M, you can do that on Sunday at 2.00 pm, without a bank in about 10 ~ 30 minutes

“So Bitcoin isn’t a currency. It is [by the way] a Ponzi game and a conduit for criminal/illegal activities. And it isn’t safe given hacking of it.”

Bitcoin is currency and far far more. The protocol has not been hacked to date.

and here's a quote from me to the world bank.

"Bitcoin is far more of a World Bank than the "World Bank" is and can ever be or even imagines itself to be. Straight out Bitcoin offers Banking to the whole world and all that without central agency".

[Acidyo]

Banks are going downhill from here.

They have been at it for too long already, it's time to take those greedy fuckers down.

In bitcoin we trust.

[jubalix]

Banks are going downhill from here.

They have been at it for too long already, it's time to take those greedy fuckers down.

In bitcoin we trust.

actually for BTC it's

with bitcoin we don't need "trust".

[Taras]

This IS coming from the World Bank Report.

[Justine]

In bubble stage doesn't mean it is a ponzi.

[novacn]

It's spoken by Bank, which is accidentally the biggest enemy of bitcoin

[harles9]

A naturally occurring Ponzi?
Just what the hell does that even mean?  If it's naturally occurring, then it is necessarily a ponzi?

[BoxControl]

This IS coming from the World Bank Report.

Don't trust the banks!

[aztecminer]

"Gold is another example, as it has witnessed numerous bubbles and crashes over the years. Basu notes that gold lost more value in two days of April 2014 than it did in thirty years, baffling both speculators and analysts."

and then there are some of us who know that gold was manipulated down and therefore is artificially priced much lower than it's real value. the reason why it has been manipulated lower is to help support the usd reserve currency and other fiat ponzi schemes.

[allthingsluxury]

This label has been being thrown at bitcoin for years, it was and isn't a ponzi.

[Lauda]

This IS coming from the World Bank Report.

Obviously they have started realizing that Bitcoin might become a serious threat to them. It's the natural thing to do for them, spread FUD. 

[BitCoinDream]

http://www.coindesk.com/world-bank-report-bitcoin-naturally-occurring-ponzi/
Do you believe it ?

WTF ?

Bitcoin Reports: World Bank is a naturally happening Ponzi !!!