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How is Bitcoin a ponzi scheme? As far as I know it's a distributed database, nothing even remotely related to a ponzi scheme.

• floren 7y ago
  Pretty much all cryptocurrencies depend on the promise that early adopters will get in cheap and make a ton of money once it takes off. Get in quick, don't be a sucker! FooCoin is going up uP UP! Now that you're in, convince your friends to buy FooCoin too, and talk it up online--that way demand will increase!
  • TomMarius 7y ago
    I don't think this is the premise of Bitcoin. This is what some people want it to be or want to make it seem like it is, though, but not really.
    • arcticbull 7y ago
      As I learned here recently the premise may well have been to fund international arms trafficking. [1] https://www.wired.com/story/was-bitcoin-created-by-this-international-drug-dealer-maybe/ https://www.wired.com/story/was-bitcoin-created-by-this-inte...