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Just to be clear, I don't draw my opinions about Bitcoin, or money for that matter, from crypto detractors. > Your inability to distinguish salesmanship for fa

Just to be clear, I don't draw my opinions about Bitcoin, or money for that matter, from crypto detractors. > Your inability to distinguish salesmanship for facts about the network and global economic conditions does not mean they are the same thing. And by calling real money "Fiat currency" you've demonstrated your complete lack of understanding of finance. I was only pointing out that for this to be a Ponzi scheme, it doesn't require any malintent from its creator.

mattwilsonn888 5y ago
> Just to be clear, I don't draw my opinions about Bitcoin, or money for that matter, from crypto detractors. You've misunderstood. Your opinions seem to come from your emotional reaction to seeing grift, then applied broadly to all new things which the grift may be associated. You saying its not true doesn't make it so, which also applies to your comment about my use of the term 'fiat currency,' which I used exactly as I intended in line with the definition of the term. A ponzi with no mal-intent from its creators is irrelevant. If the code is open source and participants understand what they are doing (which they majorly do in much of the space), then it is not a ponzi, users are not being duped. If you're referring to the creation of a totally useless token and speculation on it, then you're talking about something else. Lumping all of crypto into that bucket is a popular, flawed, obnoxious cope.
- mohanmcgeek 5y ago
  > the code is open source and participants understand what they are doing (which they majorly do in much of the space), then it is not a ponzi, users are not being duped. I don't know how you ended up with this logic. Is it not possible to run Ponzi schemes on a platform that is open source? How's the source being available prevent any pump and dump ponzi from happening? Also, stop trying to do a psychological evaluation on me. If anything, you should be the one getting checked.
  - mattwilsonn888 5y ago
    Then by your own admission the protocol itself is not the ponzi, but the speculation on top of it is. This can be true for anything which has a market price, and you've ceded the point without realizing. Also keep in mind that The Bitcoin Network has a quantifiable measure of value and therefore not all trading of it can be labelled speculation, whether you agree on that value or not.
    - mohanmcgeek 5y ago
      > the protocol itself is not the Ponzi Isn't that what my original comment was? Aside from that, Bitcoin is still a flawed model stemming from an incorrect understanding of money _whether you agree or not_ That it's _only_ used to run ponzi schemes is a problem on top of that.

mattwilsonn888 5y ago

> Just to be clear, I don't draw my opinions about Bitcoin, or money for that matter, from crypto detractors. You've misunderstood. Your opinions seem to come from your emotional reaction to seeing grift, then applied broadly to all new things which the grift may be associated. You saying its not true doesn't make it so, which also applies to your comment about my use of the term 'fiat currency,' which I used exactly as I intended in line with the definition of the term. A ponzi with no mal-intent from its creators is irrelevant. If the code is open source and participants understand what they are doing (which they majorly do in much of the space), then it is not a ponzi, users are not being duped. If you're referring to the creation of a totally useless token and speculation on it, then you're talking about something else. Lumping all of crypto into that bucket is a popular, flawed, obnoxious cope.

mohanmcgeek 5y ago
> the code is open source and participants understand what they are doing (which they majorly do in much of the space), then it is not a ponzi, users are not being duped. I don't know how you ended up with this logic. Is it not possible to run Ponzi schemes on a platform that is open source? How's the source being available prevent any pump and dump ponzi from happening? Also, stop trying to do a psychological evaluation on me. If anything, you should be the one getting checked.
- mattwilsonn888 5y ago
  Then by your own admission the protocol itself is not the ponzi, but the speculation on top of it is. This can be true for anything which has a market price, and you've ceded the point without realizing. Also keep in mind that The Bitcoin Network has a quantifiable measure of value and therefore not all trading of it can be labelled speculation, whether you agree on that value or not.
  - mohanmcgeek 5y ago
    > the protocol itself is not the Ponzi Isn't that what my original comment was? Aside from that, Bitcoin is still a flawed model stemming from an incorrect understanding of money _whether you agree or not_ That it's _only_ used to run ponzi schemes is a problem on top of that.