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It's not ponzi, it's greater fool. It's entirely possible for bitcoin to exist without new participants buying into it.
by dubswithus 4y ago
It's not ponzi, it's greater fool. It's entirely possible for bitcoin to exist without new participants buying into it.
- beefield 4y agoNot sure I follow. Ponzi can also exist without new participants buying into it - as long as the existing ones keep pumping money into it. And on the aggregate, bitcoin is negative sum game. Someone must pay for the mining costs and that money must come from outside bitcoin.
- dubswithus 4y agohttps://www.investopedia.com/terms/p/ponzischeme.asp https://www.investopedia.com/terms/p/ponzischeme.asp Doesn't share the same characteristics.
- smokey_circles 4y agoAren't new investors the required check for an investment scam like a ponzi scheme? Genuine question