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The idea of a decentralized ledger coupled with smart contracts is too powerful to be called a ponzi. Ponzis can be built on top of it, just as the internet ca
by puranjay 5y ago
The idea of a decentralized ledger coupled with smart contracts is too powerful to be called a ponzi.
Ponzis can be built on top of it, just as the internet can be used to sell penis pills and get rich quick scams. But just as those don’t make the internet a sham, crappy coins and get rich quick schemes don’t make decentralized ledgers a scam.
- jokethrowaway 5y agoA decentralised ledger with smart contract is just tech. It's not that impressive and it's not a ponzi scheme. Any currency which is not backed by real resources is a scam. Including fiat in the last decade - albeit fiat is a scam backed by state actors with armies, making it a bit more trustworthy
- puranjay 5y agoState actors with armies haven’t exactly helped a lot of fiat survive. Ask a Venezuelan if he would rather have BTC vs his native fiat.
- nonameiguess 5y agoThe Bolivar was introduced in 1879. To its credit, it lasted until Black Friday in 1983 as the most stable and internationally accepted currency in all of South America. It's been mostly downhill since then, but 104 years is a decent run. None of us will be alive in 2112 to see what becomes of Bitcoin, if it even still exists then.