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> Bitcoin seems like a huge Ponzi scheme Can you please point out which previous ponzi scheme / bubble / tulip mania has gone through so many cyclic wave patte
by asenna 6y ago
> Bitcoin seems like a huge Ponzi scheme
Can you please point out which previous ponzi scheme / bubble / tulip mania has gone through so many cyclic wave pattern and held up it's value despite all the crashes?
"Bitcoin is going to crash" - https://www.youtube.com/watch?v=XbZ8zDpX2Mg https://www.youtube.com/watch?v=XbZ8zDpX2Mg
- Erlich_Bachman 6y agoThe freely-printed, non-gold-backed flavor of USD?
- acd10j 6y agoYou yourself has stated elsewhere in this thread that Bitcoin is literally just 12 Years old. You might also have stake in bitcoins/cryptocurrency survival. It is necessary for any success of any Ponzi scheme that people become it's fierce backer. But until unless it does deliver any tangible benefit to overall financial system (less overall transaction cost etc.) It is a ponzi scheme. There are long list of soft ponzi scheme (e.g. Amway) that have been running for decades. That does not mean they do not have Ponzi style pump and dump behavior. Bitcoin as it stands (huge waste of energy, Very high transaction cost) is failing in all of it's intended use cases.