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Author Topic: Explanation to how bitcoin is a ponzi scheme  (Read 3793 times)
Teppino
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August 20, 2014, 12:13:02 PM
 #21

i was about to answer in this thread, but then i realized that someone quoted you and others quoted that one who quoted you.
therefore it must be a ponzi, i should not post here
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August 20, 2014, 12:17:24 PM
 #22

I actually believe that Bitcoin has several aspects of a so called "Ponzi Scheme". But it is more of a naturally occurring Ponzi, as someone put it a couple weeks ago. It is true that early adopters profit from putting faith in Bitcoin and risk their investment. But Bitcoin doesn't need any new people to join the party in order to work. The price may suffer if no new people join Bitcoin, that's true for most parts, yeah, but the block reward continues to go down successively and the total number of Bitcoins is limited. A Ponzi has to go bust at some poin, it's designed that way. Bitcoin isn't bound to completely fail should there be no new adopters. That's the striking difference here!

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August 20, 2014, 12:19:04 PM
 #23

i guess silver and golds industrial uses have just evaporated before our eyes then right? the fact that the industrial demand of silver is greater than the entire world supply can ever be is just a fantasy of investment nerds huh?


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.



what the fuck are you talking about gold has little industry usage?  gold is used in all modern electronics.
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August 20, 2014, 12:19:27 PM
 #24

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.

gold and silver have intrinsic value...

but they are NOT an investment, only a store of value, that historically do move up but not as fast as inflation, only once in a while there is gr8 uncertainty in the Financial system, and everyone runs to PM, but i'm not sure this is going to hold true now that we have bitcoin....

its not very risky to buy gold ( especially now that its been dropping for 2 years ), less risk less ______.

investments will be risky but more risk more ______.

it might make sense to do both store some value long term, and invest, who knows?


so.... is my view stupid?

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August 20, 2014, 12:21:32 PM
 #25

no adam thats not stupid. i was implying that if you agreed gold and silver have 'no real value' then that is stupid. what you said makes sense, from a ROI perspective its not really a good investment if stocks are doing well.
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August 20, 2014, 12:26:14 PM
 #26

gold and silver have intrinsic value...

That's true, you can "build stuff with them" but their advantages as a metal or material aren't as high as to justify their price! Gold has a good electric conductivity, but it isn't that dramatically higher as to justify the price of Gold compared to Copper, for example. It's more of a speculative commodity.
(I hope I don't get banned from the Wall Observer for arguing with you Cheesy)

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August 20, 2014, 12:30:17 PM
 #27

It's stupid to assume anything to have intrinsic value, materials may have intrinsic properties, but value is set by human trade.
If tomorrow gold drops to 1 USD/oz, it will worth 1 USD/oz, there is nothing in gold itself that would push its price up. Same goes for silver, oil or whatever resource around.
But even "how much is 1 USD" is variable...

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s1lverbox
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August 20, 2014, 12:38:47 PM
 #28

Ok So take your " money and leave". but wait....what you gong to do when people will decline your money? I think maybe first try to understand what bitcoin is and how it works. whole world reliant on something.  this that means whole world is ponzi? even if why not try to go with the bitcoin flow?
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August 20, 2014, 03:14:12 PM
 #29

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

Atleast gold and silver at 'real' metals and have physical properties that make them unique (good conductor, looks good, gold doesn't tarnish)

Diamonds on the other hand, have only a 'look good' value to them.  Yes, there are certain industrial processes that use diamonds but they are heavily pumped by the DeBeers cartel.  Diamonds are not a good 'investment'
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August 20, 2014, 03:18:06 PM
 #30

Let me guess, you were there to get rich quick by just watching a ticker and it didn't work out. Bummer.

Now just open your spam folder and find your next investment opportunities. Good luck!
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August 20, 2014, 03:18:35 PM
 #31

Wow, I was a ponzi and didn't know it! I must be Berni frickin Madoff. lol

No, I don't think you know how a ponzi works or you would understand the silliness of an open source ponzi.

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August 20, 2014, 03:32:49 PM
 #32

I'm surprised nobody has posted this yet:

https://www.youtube.com/watch?v=7u4F8cpzqao
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August 20, 2014, 03:35:48 PM
 #33

If the price of a coin is sustainable on longerterm then it's not a ponzi.
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August 20, 2014, 04:27:21 PM
 #34

Bitcoin is a naturally occurring ponzi scheme - World Bank
falllling
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August 20, 2014, 04:39:05 PM
 #35

Bitcoin is a naturally occurring ponzi scheme - World Bank

do NOT forget the dead cat bounce at just 4 days ago! $520 - $470 again!

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August 20, 2014, 04:44:00 PM
 #36


Nah, that isn't a dead cat bounce. That's just bouncing off a resistance level! We simply needed to go lower! This chart doesn't say Jack about whether we're in a another dead-cat-bounce or whether we're in a trend-reversal!
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August 20, 2014, 04:45:06 PM
 #37

Bitcoin is a naturally occurring ponzi scheme - World Bank

Do not believe in quotes you find over the internet - Benjamin Franklin

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falllling
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August 20, 2014, 04:47:01 PM
 #38

Bitcoin is a naturally occurring ponzi scheme - World Bank

do NOT forget the dead cat bounce at just 4 days ago! $520 - $470 again!



Nah, that isn't a dead cat bounce. That's just bouncing off a resistance level! We simply needed to go lower! This chart doesn't say Jack about whether we're in a another dead-cat-bounce or whether we're in a trend-reversal!

Im wondering if this is the same little cat bounce that happened a few days ago,, didn't it go to 520 or something before it went sub 400?

This is why I've changed my mentality. Instead of worrying that my coins are losing value, think of it as an opportunity to buy cheap coins.. Hell, i might start buying litecoin, and I hate alt coins, but that might just be a smart move as I smell coinbase in the hunt for taking them soon.. if that happens, i wouldn't doubt a litecoin price double just on the announcement..

Once it's a strong enough up swing all those panic sellers become panic buys. Also my swaps on finex are opening up and I assume the most not the only one. This will be another catalyst higher.

I dont think its clear yet, we'll have to see if there are any dumpers left at these levels. Generally when the price stagnates after a rise, a lone dumper  takes it down a notch.
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August 20, 2014, 04:54:42 PM
 #39

I see no evidence that a "dead cat bounce" is possible in bitcoin. You are thinking of a stock, which could die if valuation falls to low. That is no concern at all of mine. Bitcoin does not need to support any price and simply can't die as long as two people are using it. I'm one, anyone else want to be the other?

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August 20, 2014, 04:57:25 PM
 #40

I see no evidence that a "dead cat bounce" is possible in bitcoin. You are thinking of a stock, which could die if valuation falls to low. That is no concern at all of mine. Bitcoin does not need to support any price and simply can't die as long as two people are using it. I'm one, anyone else want to be the other?

I don't think fallling or any of his clones deserve any answer whatsoever anymore. Let him post his same graphic over and over until the mods get fed up and show him the door.

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