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It's not a Ponzi scheme - it's worse. At this point it only makes sense to call it a Nakamoto Scheme. https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ https:
by hendzen 9y ago
It's not a Ponzi scheme - it's worse. At this point it only makes sense to call it a Nakamoto Scheme.
https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/ https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/
- SimbaOnSteroids 9y agoI think South Sea Bubble is more appropriate.
- juicyfroot 9y agoYou and the author are cunts. Read the original Nakamoto paper
- trophycase 9y agoRidiculous. Pyramid and Ponzi schemes do absolutely nothing other than redistribute wealth. Bitcoin obviously has some value and if you can't see that you're willfully ignorant. The article suggests that Bitcoin "promises insane returns" but Bitcoin doesn't do that at all. Speculators want you to buy so the price goes up, just like a stock.
- hendzen 9y agoDo you honestly believe that most people buying bitcoin are buying it for any reason other than the hope that the price will increase?
- trophycase 9y agoHow does that make Bitcoin a Ponzi scheme? A ponzi scheme is an organizational structure, not the people that exist in that organization. Bitcoin is a piece of software, and some people using that software are trying to profit. There is nothing inherent in the structure of Bitcoin that makes it a Ponzi
- hendzen 9y agoThis comment makes me think you didn't read the article in my parent comment. Bitcoin is not a Ponzi scheme, it is a Nakamoto scheme.
- lawn 9y agoMost people buy stock, gold and sometimes houses in the hope of the price will increase. Does that make them a scam?