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> 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 be
by 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 agoThen 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.