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Bitcoin isn't a Ponzi Scheme, but there are some Ponzi Schemes built around it...the big one being Bitfinex and their worthless Tether currency. And if/when tho
by partiallypro 9y ago
Bitcoin isn't a Ponzi Scheme, but there are some Ponzi Schemes built around it...the big one being Bitfinex and their worthless Tether currency. And if/when those schemes collapse they could greatly destroy the (market) value of Bitcoin.
- avenoir 9y agoDon't forget about BitConnect.
- goldenkey 9y agoBitcoin is a ponzi because current market conditions are hiding the huge amount of potential volatility rested in convertable worthless currencies like Tether AND the gigantic number of "turtled" speculators. By definition, Bitcoin can't provide value without future buyers. With securities, there are dividends and settlements - or the "potential for future dividends." Bitcoins true value might be close to $500 once these hidden potential sellers emerge and transact. The current back and forth market activity does not illuminate the true supply and demand. In fact because the exchanges are unregulated, the market activity is highly manipulated. So even just thinking it's worth a lot because its going up, is falling for a Ponzi. The reason it's going up is precisely because of the greedy pouncers waiting in the grass. When they decide to act it will be equivalent to a bank run. Then we will see the true supply and demand curves. Until then, the charts are as if Madoff is supplying them...