Explanation to how bitcoin is a ponzi scheme

[utclover]

Something I realized today:
What makes bitcoin any different from a ponzi games that we see in the gambling section?
In those games, you send your coins to someone and he holds it until someone else sends coins and then pays you, in the end no one sends him coins so payouts stop and the last guys who have coins in it don't get a payout.
How is bitcoin any different? You bought coins, someone buys them from you waiting for someone else to buy them and keeps going like that until no one buys them, or less people buy them so they end up losing their money.

Bitcoin is a decentralized ponzi scheme with no central authority. You f*** over each other by selling "bitcoins" to someone else who hopes someone else buys them from him.

You know I'm right.

Disclamer: I am not holding bitcoins any more.
I am taking my money and leaving while I'm up.
Good luck.

[OnkelPaul]

[ ] understands Ponzi
[ ] understands Bitcoin

have a nice day

Onkel Paul

[fonzie]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

[utclover]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

[findftp]

Life itself is a ponzi scheme.
It's called survival of the fittest.

[zeroday]

Buy something that has real value, like shares in a profitable business.

LOL

[falllling]

Buy something that has real value, like shares in a profitable business.

LOL

ever bought facebook or google or apple or twitter .. shares before?

[GangkisKhan]

Buy something that has real value, like shares in a profitable business.

LOL

ever bought facebook or google or apple or twitter .. shares before?

Internet companies stock are over valued by wide margin. Most don't even pay dividend, why anyone bother to even buy them is beyond me.

[alexeft]

Something I realized today:
What makes bitcoin any different from a ponzi games that we see in the gambling section?
In those games, you send your coins to someone and he holds it until someone else sends coins and then pays you, in the end no one sends him coins so payouts stop and the last guys who have coins in it don't get a payout.
How is bitcoin any different? You bought coins, someone buys them from you waiting for someone else to buy them and keeps going like that until no one buys them, or less people buy them so they end up losing their money.

Bitcoin is a decentralized ponzi scheme with no central authority. You f*** over each other by selling "bitcoins" to someone else who hopes someone else buys them from him.

You know I'm right.

Disclamer: I am not holding bitcoins any more.
I am taking my money and leaving while I'm up.
Good luck.

So, you don't like capitalism eh!!! Me neither!  

[spiderbrain]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

Ha, you mean like on the stock exchange? Good luck finding shares with a reasonable P/E ratio. Everyone sane is short the major western exchanges now.

[blatchcorn]

Early investors in Apple made money from other investors following them - must be a ponzi scheme

The Queen of England makes money from the rest of the country using her money and buying more of it with other currencies - must be a ponzi scheme

I started my business with a little bit of money and now make a decent living from it - must be a ponzi scheme

[spiderbrain]

With a ponzi scheme there is uncertainty and deliberate obfuscation about where the money is, how much there is and how many investors there are. With bitcoin, this is all transparent. We are all creating a floating price based upon the utility of a limited number of units of peer-to-peer decentralised money. The exchange value will, of course, go up and down, and I agree some people have persuaded people to buy at the top of bubbles, or sell at the bottom (reverse ponzi-like) which is dishonourable.  But the fact remains that cryptocurrencies in general are only just a tiny part of the global economy at present, which many people think is extremely unlikely to be the case in 5 years, and so there is logic to it as an investment.

Granted it has been a wild ride so far.

[kwukduck]

How can you have 145 posts here and still don't understand what a ponzi scheme is or bitcoin or simple market dynamics?
The troll is strong in you my friend....

[leezay]

How can you have 145 posts here and still don't understand what a ponzi scheme is or bitcoin or simple market dynamics?
The troll is strong in you my friend....

Judge not by the look of the book but by the content of what it is written.

[kwukduck]

How can you have 145 posts here and still don't understand what a ponzi scheme is or bitcoin or simple market dynamics?
The troll is strong in you my friend....

Judge not by the look of the book but by the content of what it is written.

I did, i checked his profile and posts. He's a new member that probably thinks he missed the boat and it seems he's trying to get into every altcoin he can just to make sure he's one of the early adopters. But that's not the content what was written here, that was the past.

Let's look at what he wrote in this topic. He assumes the only reason people buy bitcoin is to sell it at a higher price than they bought it for. If not the only reason, then the biggest relevant factor.
Of course speculation is part of the adoption curve and will have extremes in both high and low ends, as to be expected.
However, the total neglect of how bitcoin works, it's properties, show me he either has no idea what he's talking about, or he's trolling.
Being so active with altcoins, i assume he has at least a very basic understanding of the properties and potential of the protocol.

No matter the bitcoin value, it's utility is still there. Only speculators care about the price, people that care about 'free' money (as in freedom of speech...) don't. It will remain useful for many many people around the world.

[maker88]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

holy. shit. what an idiot...

[adamstgBit]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

holy. shit. what an idiot...

ya cuz buying shares in a profitable business, never made anyone rich.

[maker88]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

holy. shit. what an idiot...

ya cuz buying shares in a profitable business, never made anyone rich.

are you implying you too believe gold and silver has no intrinsic value? or that precious stones don't keep up with inflation better than any other asset in history? because if you are, you're stupid.

[BCEmporium]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

holy. shit. what an idiot...

ya cuz buying shares in a profitable business, never made anyone rich.

are you implying you too believe gold and silver has no intrinsic value? or that precious stones don't keep up with inflation better than any other asset in history? because if you are, you're stupid.

All those materials just have value because we value them, there is no such thing as intrinsic value, just intrinsic properties.
You are basically thinking that because in the past this happened, this will carry on until the end of days, and that my friends isn't nothing but speculation.

[negafen]

Should i sell my gold/silver/diamonds too? I´m not sure, could be ponzi too?

Yes
Buy something that has real value, like shares in a profitable business.

holy. shit. what an idiot...

ya cuz buying shares in a profitable business, never made anyone rich.

are you implying you too believe gold and silver has no intrinsic value? or that precious stones don't keep up with inflation better than any other asset in history? because if you are, you're stupid.

All those materials just have value because we value them, there is no such thing as intrinsic value, just intrinsic properties.
You are basically thinking that because in the past this happened, this will carry on until the end of days, and that my friends isn't nothing but speculation.

Yup. No such thing as intrinsic value.

Bitcoin should only be compared to gold and not silver. Since there is little industry usage for gold (silver has usage) and the only reason it has value is because central banks around the world give it value.