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A Ponzi Scheme relies on a central authority, BTC has none. I think you just mean "scheme?"
by JxLS-cpgbe0 6y ago
A Ponzi Scheme relies on a central authority, BTC has none. I think you just mean "scheme?"
- dandanua 6y agoThere is Satoshi's wallet in the root, no need for authority as we can see.
- JxLS-cpgbe0 6y agoYes, there is need for a central authority, Charles Ponzi for example. They actively and consciously channel the funds from new, defrauded investors, to that authority. BTC is not a Ponzi Scheme ; Satoshi is not steering the profits from a pump-and-dump. Passively profiting off new investors buying BTC does not make a Ponzi Scheme. Market manipulation is not a Ponzi Scheme. A Pyramid Scheme is not a Ponzi Scheme. "Ponzi Scheme" has a real definition.
- dandanua 6y agoAgree, I've used it in a more general sense. I mean it's just like a pyramid.
- JxLS-cpgbe0 6y agoIt's not a Pyramid Scheme either, there is no central authority. The benefits of a Pyramid scheme are specifically not investments, but instead explicitly payments for recruiting. Pyramid Scheme also has a real meaning.