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None of what you say negates the fact that it is a Ponzi. Plenty of Madoff's customers did the same things--they were "lucky" in the sense that they weren't at
by fivestar 9y ago
None of what you say negates the fact that it is a Ponzi. Plenty of Madoff's customers did the same things--they were "lucky" in the sense that they weren't at the last layer of the Ponzi. Someone will be. There was research done about Ponzi schemes and I don't remember all the details except that none get past 11 levels because it would require more people to invest than exist on the planet.
- loceng 9y agoI wasn't trying to negate it being a Ponzi. :) The 11 level limit intersecting with time will dictate how much time Bitcoin folks have to gain mass adoption..
- someSven 9y agoPonzi systems end. A speculative asset might drop hard, but then it stabilises. There is simply no reason to stop using or holding BTC when the price increase stops.
- loceng 9y agoI think the points stated in my above comment could cover why it may look like a speculative asset.