4 ms·
That's not necessary. From wikipedia: "A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game)[1] is a fraudulent investment operation where the operator generates return
by noncoml 9y ago
That's not necessary. From wikipedia: "A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game)[1] is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading."
Bitcoin's only real value is that of the chance of being adopted as currency. For it to become a currency people have to start buying bitcoins, as it is the only realistic way get hold of them. So the only way to make value for the current holders(older invenstors) is more people buying into it(revenue paid by new investors)
- tlrobinson 9y agoBut where is the fraud? And who is the "operator" perpetrating it? Anyone can do their own research and come to conclusions about the future valuation of Bitcoin.
- tptacek 9y agoSure, but you can say that about a lot of totally bogus investment instruments. Every pump-and-dump pink sheet scam has the same property.
- tlrobinson 9y agoSure, but you're arguing Bitcoin is a "Ponzi scheme", which has a specific meaning, not just a bad investment.
- tptacek 9y agoRight. Again: look at the characteristics of a Ponzi: * Outsized returns * All the returns are funded by successive waves of investors * Most "investors" hold, riding it out in the hopes of accumulating gains * Easier to get into than out of, even if some eventually can
- tlrobinson 9y agoAlso: * Fraud
- deleted 9y ago[deleted]
- deleted 9y ago[deleted]
- noncoml 9y ago“Operators” are the core team and early adopters and exchanges. Well if all the above are not enough for you to classify as a Ponzi scheme, not sure what to say. I have no further arguments.
- gizmo686 9y agoWhat fraud are you referring to?