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From the BitCoin FAQ (http://en.bitcoin.it/wiki/FAQ#Is_Bitcoin_a_Ponzi_scheme.3F http://en.bitcoin.it/wiki/FAQ#Is_Bitcoin_a_Ponzi_scheme.3F): Is Bitcoin a Ponz
by Aqueous 13y ago
From the BitCoin FAQ (http://en.bitcoin.it/wiki/FAQ#Is_Bitcoin_a_Ponzi_scheme.3F http://en.bitcoin.it/wiki/FAQ#Is_Bitcoin_a_Ponzi_scheme.3F):
Is Bitcoin a Ponzi scheme?
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.
A ponzi scheme is a zero sum game. Early adopters can only profit at the expense of late adopters. Bitcoin has possible win-win outcomes. Early adopters profit from the rise in value. Late adopters, and indeed, society as a whole, benefit from the usefulness of a stable, fast, inexpensive, and widely accepted p2p currency.
The fact that early adopters benefit more doesn't alone make anything a Ponzi scheme. All good investments in successful companies have this quality.
- mmcnickle 13y ago"The first thing to say is this is definitely not pyramid selling, OK" Toni - trying to sell Jeremy on a pyramid scheme -- Peep Show, Season 1, Episode 2; "The Interview"
- phaemon 13y agoThat's nice. So, develop some balls and actually say "I think Bitcoin is a pyramid scheme" rather than quoting TV. Or you could learn some maths and determine for yourself why it's not.