zooyaa (OP)
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January 05, 2015, 08:21:03 PM |
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I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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mlferro
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January 05, 2015, 08:27:02 PM |
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certainly not !!
can not be!
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rax
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January 05, 2015, 09:42:20 PM |
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Can't believe I actually read this whole bullshit. |
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juju
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January 05, 2015, 09:46:27 PM |
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I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Hate to be that guy, but this has been discussed numerous times on this board - use the search feature. I recall seeing several Legendary users weigh in on this subject in the past you might find some good information searching the board. Edit: Grammar |
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RodeoX
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Activity: 3066
Merit: 1145
The revolution will be monetized!
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January 05, 2015, 09:48:12 PM |
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I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Perhaps it would be better to explain what a ponzi is, then you will know the answer to your own question. Bitcoin can not be a ponzi because it lacks the properties required to be one. In a ponzi the crime is that the true value of the asset is hidden by the issuer. Bitcoin does not have an issuer and the price is on display for all to see at the exchanges. I don't see how a vote will help clarify this. After all there was a time when a vote might have shown the Earth to be flat. But was it? |
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GGGGG
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January 05, 2015, 10:01:37 PM |
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Ponzi scheme is paying earlier investors with the money received from new investors without actually investing. Bitcoin is more of an overvalued stock or a gamble for many (not even investment), so if you took a gamble and lost it doesn't necessary mean you've been scammed, right?
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ChuckBuck
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January 05, 2015, 10:10:16 PM |
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Yes yes, only Satoshi and a few others profited from this scheme in the beginning. All the latecommers got the dick shaft up the anus. We all got Goxed, Stamped, (Enter fail word here).  If you're still on the BTC Train, get off now before you fall off the cliff to oblivion. P.S. - Tongue planted firmly in cheek |
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saddampbuh
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Merit: 1014
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January 05, 2015, 10:15:08 PM |
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voted no it doesn't bear enough characteristics of a ponzi to be called one but mining makes it sort of ponzi like in that constant influx of new fiat is needed for it not to fail
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Be radical, have principles, be absolute, be that which the bourgeoisie calls an extremist: give yourself without counting or calculating, don't accept what they call ‘the reality of life' and act in such a way that you won't be accepted by that kind of ‘life', never abandon the principle of struggle.
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Outlander
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Merit: 1000
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January 05, 2015, 10:19:15 PM |
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Bitcoin is not a Ponzi scheme. Bitcoin doesn't have central authority.
Total voters : 32
Yes : 6 ( Bernie Madoff supporters )
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resya
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January 05, 2015, 11:27:24 PM |
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Why do you think bitcoin is a ponzi scheme ?
All bitcoiners must get back to remember why bitcoins was invented. free from governement control free from established control decentralized. bitcoin for the people by the people
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HYPERfuture
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January 05, 2015, 11:29:05 PM |
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Voted no. Bitcoin is essentially a technology! Would you say the Internet is a ponzi scheme?  |
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Lethn
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January 05, 2015, 11:29:26 PM |
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Anyone who has actually bothered to look at the way Bitcoin works and used it will tell you no, the people claim it is are making statements from ignorance, if you actually get them to explain their arguments you will regularly find they have absolutely no understanding of Bitcoin or the blockchain technology it is built on that makes it so unique.
Oh yeah and the people who claim it's a ponzi scheme also clearly don't understand what a ponzi scheme actually is either.
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HYPERfuture
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January 05, 2015, 11:35:44 PM |
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Thank you for these very balanced articles that go into such depth on how Bitcoin really is an entirely new technology! NOT Blockchains will be used for all kinds of things in the future this is just the beginning. |
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philiveyjr
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Activity: 840
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January 05, 2015, 11:35:53 PM |
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Can't believe I actually read this whole bullshit. lol..same here!! Im not buyin that article at all! |
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MineForeman.com
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Activity: 896
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January 05, 2015, 11:36:33 PM |
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Voted Yes.
I like poisoning the results of poorly thought out and researched polls.
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Lauda
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Terminated.
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January 05, 2015, 11:38:54 PM |
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Answer: No.
Explanation: You're a fool.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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crazyearner
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Merit: 1001
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January 06, 2015, 12:25:37 AM |
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If your thinking Bitcoin is ponzi then you need to not bother with it and go elsewhere. If you know nothing about bitcoin then youtube and bitcointalk and much reading you need to do. Bitcoin is far from poniz or it would of gone a long time ago like the millions of ponzis and payment stuff that went into vapour. Once you read about bitcoin and you learn more about it you will understand its greater power.
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myohmy81
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January 06, 2015, 12:25:52 AM |
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NO
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odolvlobo
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Merit: 3214
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January 06, 2015, 01:03:26 AM |
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I want to know if anybody in the Bitcoin community think that Bitcoin is a big ponzi scheme like Bernie Madoff. If so please vote Yes or No. Also, please explain why you think that.
Anyone that believes that Bitcoin is a Ponzi scheme does not know what a Ponzi scheme is.
A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.
Bitcoin is 100% transparent and does not have an operator. By definition, it cannot be a Ponzi scheme. |
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