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It becomes a Ponzi scheme the moment you realize that the idea is intrinsically broken, but still you keep shilling it and making grow the value exponentially,
by mrfinn 6y ago
It becomes a Ponzi scheme the moment you realize that the idea is intrinsically broken, but still you keep shilling it and making grow the value exponentially, (value that somebody has to pay). BTW, flagged, really mods??
- tiku 6y agoWhen does a Ponzi scheme stop being a Ponzi scheme?
- totalZero 6y agoThis is a really, truly weird way to defend Bitcoin, whose claim to fame is that its only value comes from its uptake. The argument goes, "governments can fiat money, so why can't we?" There is no unique creation of value anywhere in the Bitcoin life cycle. Any liquidity or anonymity externality that doesn't equally apply to USD is probably accruable only by criminals and traffickers. The transactions are slow and costly, and there's no guarantee that some governmental research agency hasn't already broken the cryptographic underpinnings.