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The author conveniently misses all the important points that easily break his argument. >> A Ponzi scheme is a form of fraud that lures investors and pays pro
by risyachka 5y ago
The author conveniently misses all the important points that easily break his argument.
>> A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors
Early investors in bitcoin were people who never expected it to cost anything at all. They mined or bought it solely for the idea.
Also if it wasn't created with purpose of fraud it is not a Ponzi scheme.
Someone makes something - people like it - prices goes up. Ponzi scheme? Nope.
- tinco 5y agoYour argument is cleanly refuted by the article under the header "The operator must lie to investors about the source of profits.". No one is saying anything that goes up in value is a Ponzi scheme, that's an absurd statement. You're not making a good case for your cause. Maybe mention some more important points that the author misses?
- Ekaros 5y agoTwo things which in addition makes me oppose calling bitcoin a ponzi: No central actor. There is no profits paid. Only increase The later would mean that pretty much anything going up in price is ponzi. Were beanie babies ponzi? Arguably they were cuddly so they offered some value...