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

[annoyingorange]

TL;DR: Every speculative bubble is a "naturally occurring ponzi".

Ok then. 

[ajareselde]

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

This reminds me of USA saying the Russians took down that plane...
In the end, sadly, there are alot of people that dont understand that banks will allways talk bad about bitcoin, but anything they say cant be impartial.

This is why regulation is needed, even if it may seam like a bad choice, but atleast were not feeding the banks with more bad press to throw at us.

[Maidak]

This is one sophisticated ponzi if you ask me I think they're just scared.

[Cicero2.0]

This is one sophisticated ponzi if you ask me I think they're just scared.

I think they realize that if average people ever figure out the game they play at our expense they will be out of business fast. Bitcoin sheds some light on that and it makes the roaches nervous.

[smoothie]

LOL and this is coming from the World Bank where their whole motto is "Operate as a ponzi to fill our pockets with a whole lotta stuff and enslave the working class at the same time through fractional reserve banking"

 

[smoothie]

You know that the banks are retarded when they can't even get the definition of "ponzi" correct.

Bitcoin doesn't promise returns like ponzis do.

[sugarfree]

Using the word Bitcoin and Ponzi scheme in the same frame of reference is the same thing as calling it a Ponzi Scheme in my opinion, 'Natural' or 'Traditional' is irrelevant - Interesting delivery they have tried here. So many analogies in this context like the 'heart attack is a naturally occurring murder" How audacious. Just the simple measure of commitment and intellect that has poured in to this phenomenon is all the credibility that is required for it NOT to be a Ponzi Scheme in any sense of the word; in fact its behavior is probably unrecognizable to the academics because it is the first true free market instrument in 40 years - buyers and sellers.

[sugarfree]

It is such a sad commentary on the state of affairs of the legacy system for these leaders to not recognize the truth behind the distributed asset ledger. In their position, having all their accumulated wealth in Dollars, there can be no other comment they can make.
JPM, Barclays, HSBC and all the others are incredible institutions and still are, ran by teams of millions of qualified individuals. The fines and wrong doing you read about are not because of the inefficiencies or frauds of their institutions, it is the skulduggery of the instrument that underwrites their business model, the dollar, and the twisted regulation that governs their activities. Capital will seek a path forward around legislation - it is also natural, circumvention is the equivalent of water seeking the lowest level.

[sugarfree]

Equally most will blame the academics for their 'mismanagement' of this instrument (Central Banks) . But it is not them either.
The great enablers of the real Ponzi Scheme that exists in the World today has been our respective Governments that have legislated their Ponzi Scheme such that it can not be called a Ponzi Scheme. With some slight of hand, a few pages can be drafted to allow fractionalization, derivatives, and leverage all the while maintaining "That this is not a Ponzi scheme." If the velocity of commerce and money is maintained at a high level, $1000 dollars can be made to look like $1,000,000.

I disagree with you Kaushik Basu, shame on you for being ignorant, short-sighted or or both. Bitcoin is now the most secure store of value on the planet Earth. It is much easier to counterfeit Gold by creating your own Goldmine and refining the ore at a cost of about $200 million, rather than trying to produce your own Bitcoin at $2 Billion. The education will spread and people will wake up to the truth soon enough. It must be slow and methodical however before legacy holders realize there is even a credible threat - and then it will be too late.

The institution I am a part of stands a chance to do more good over the next 100 years than the World Bank ever could because it is underwritten by an instrument of undeniable trust and transparency. Change is upon us.

[ipnone5only]

TL;DR: Every speculative bubble is a "naturally occurring ponzi".

Ok then. 

Just like how a heart attack is a naturally occurring murder

[CokeCoin]

TL;DR: Every speculative bubble is a "naturally occurring ponzi".

Ok then. 

bitcoin doesn't carry any promise of return. it only has promise of fixed inflation. i studied the issue carefully before i bought in.

[EnterReturn]

TL;DR: Every speculative bubble is a "naturally occurring ponzi".

Ok then. 

True, but the article is a misleading representation of the report.
It's not unreasonable to study ponzis and speculative bubbles together (which is what the report does). Admittedly the terminology "naturally occurring ponzi" is misleading, but the report still has reasonable things to say about both.

[EnterReturn]

TL;DR: Every speculative bubble is a "naturally occurring ponzi".

Ok then. 

The article is leading you to the conclusion that the World Bank thinks bitcoin is a ponzi scheme. If you read the report they make no such claim. Coindesk is misleading their readers.

[ThomasCrowne]

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

I believe if anybody where to be an expert in recognizing ponzi's it would be the World Bank :-P

"The gig is up boys.  Time to join the 21st century you fat cat bankers!"

[Summer,69]

Hope CoinDesk will start linking to the reports they cite. It's pretty annoying.

[gonnafly]

Kinda like reading a report by McDonald's on how salads are evil and make you sterile

[neverminer77]

Speculative bubble is not, by definition, a Ponzi. No one is promising anyone future returns here.
World bank writer wants to malign human tendency to follow the herd. This tendency to see your neighbor's profits and be envious of them and in turn attempt to replicate them yourself is as old as mankind itself.

I guess the world bank would call the human race a Ponzi in that case.

[sandykho47]

From BANK

Well, how stupid World Bank to think BTC is a ponzi
i bet they don't how Ponzi work OR how BTC works
how can they call themself 'world bank'

i think they just made a fake report to destroy BTC Prize

[12inchdick]

No one is promising anyone future returns here.

Have a look at this recent survey.http://imgur.com/a/WcMIk In particular, pay particular attention to slide 13.

So while there isn't necessarily a central figure promising returns, the attitude of the community as a whole is.

The best terminology I can use to describe what's going on is that it's a 'Decentralized Ponzi' of sorts. Honestly, it's one of the most interesting things about Bitcoin to me.

[12inchdick]

No one is promising anyone future returns here.

Also, I'd argue that there are in fact central figures promising returns. You have all the big names. Andreas Andbopogogpffopolus, Gavin Andresen, etc. They're all very much claiming that Bitcoin is going to be the next big thing. And they're all huge holders of Bitcoin.