Bitcoin revealed: a Ponzi scheme for redistributing wealth - Washington Post

[tokeweed]

Not looking good from the mainstream media's POV.

Bitcoin revealed: a Ponzi scheme for redistributing wealth from one libertarian to another

If Bitcoin were a currency, it'd be the worst-performing one in the world, worse even than the Russian ruble.

But Bitcoin isn't a currency. It's a Ponzi scheme for redistributing wealth from one libertarian to another. At least that's all it is right now. One day it could be more. Venture capitalists, for their part, are quick to point out that it's really a protocol, like the early internet, and its underlying technology could still be revolutionary. Also, they've bet hundreds of millions of dollars on it.

But that's not much of a consolation to anyone who bought anywhere near Bitcoin's $1,100 top. Or near $1,000, or $900, or $800, or, well even yesterday's prices. That's because Bitcoin hasn't just fallen 76 percent the past year. It's fallen 36 percent the past two days, as you can see below, with a 24 percent decline the past 24 hours. It's too bad Bitcoin doesn't have a central bank to help stabilize its value.

more here...  http://www.washingtonpost.com/blogs/wonkblog/wp/2015/01/14/bitcoin-is-revealed-a-ponzi-scheme-for-redistributing-wealth-from-one-libertarian-to-another/

[jonald_fyookball]

A negatively spun article published about Bitcoin during a price crash...

Big surprise there.

[ik_do]

u can add it here: bitcoinobituaries.com

[onewiseguy]

Bitcoin will rise just like it has over the past 5 years. dont stress

[MelodyRowell]

Harsh article. But the media are just doing their job.

[mayax]

they are saying the truth.

Bitcoin is doomed !

in 10 hours, the price will be around of 140 USD or even lower

[MichaelBliss]

A negatively spun article published about Bitcoin during a price crash...

Big surprise there.

Exactly.  It should be obvious by now that the mainstream media really doesn't want bitcoin to succeed.  They've been trashing it for years while they pretend it's too complicated to explain to people.  Imagine instead of laughing at it initially, they told people to pick some up when they were first reporting on it, at $5/btc?

[romerun]

Bitcoin, in other words, is suffering a deleveraging shock like the one that our economy in 2008, but without a Federal Reserve to cushion the blow.

[mayax]

A negatively spun article published about Bitcoin during a price crash...

Big surprise there.

Exactly.  It should be obvious by now that the mainstream media really doesn't want bitcoin to succeed.  They've been trashing it for years while they pretend it's too complicated to explain to people.  Imagine instead of laughing at it initially, they told people to pick some up when they were first reporting on it, at $5/btc?

you are 1 MIL altogether since 6 years ago. You have a lot of visibility in media, a lot of buzz. someone paid a lot of money for this advertising

AGAIN, 1 Milion users worldwide(including China), Ok?
Less than a Zeek Rewards in 2 years .

[jonald_fyookball]

AGAIN, 1 Milion users worldwide

which means it can grow 1000-fold.

[mayax]

AGAIN, 1 Milion users worldwide

which means it can grow 1000-fold.

the number of fools is limited

[jonald_fyookball]

AGAIN, 1 Milion users worldwide

which means it can grow 1000-fold.

the number of fools is limited

Surely you have better things to do
with your time than make hundreds
of posts conversing with fools.

[grendel25]

AGAIN, 1 Milion users worldwide

which means it can grow 1000-fold.

the number of fools is limited

Don't you mean the number of fools is unlimited?  Just 1M users?  There has to be more than that!

[mayax]

AGAIN, 1 Milion users worldwide

which means it can grow 1000-fold.

the number of fools is limited

Don't you mean the number of fools is unlimited?  Just 1M users?  There has to be more than that!

go ahead and find them. The Bitcoin "community" need them NOW . The libertarians who are using the banks and all the others facility the "bad persons" created them, need more fools.

[Bitcoinpro]

fiat institution writes more fantastical BS

that should be the title

[SLVR4ME]

The Washington Post is a couple of notches up from the Star and the Enquirer.
Ruperts shills doing their shill work.
Nothing more, nothing less

[twister]

What Ponzi? Bitcoin never promised a High return on an investment, which is what exactly a Ponzi offers, people who got in for the concept don't care about the price.

Anyways, it's nice to at the time like this people show their true colors, easy to differentiate now from the ones who really like Bitcoin and ones who pretended to.

[Remember remember the 5th of November]

Mainstream media write what will make people read their articles/newspapers. I remember when the articles about ISIS and Ebola appeared that was the only thing I was reading on /r/worldnews, then it died down.

They don't care what happens in the world, so long as they can build up "interest".

[QuestionAuthority]

We cannot fail because Lemmiwinks is on our side.

[cbeast]

I read The Honey Badger Times. They give slightly less than a fuck.