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Message
re: Bitcoin is a Ponzi scheme—the Internet’s favorite currency will collapse.
Posted on 4/18/13 at 9:22 am to gizmoflak
Posted on 4/18/13 at 9:22 am to gizmoflak
quote:You just described bitcoin perfectly, except you left out the part about the underlying asset not providing a cash flow or profit on its own.
Ponzis require a fraudster who takes in "investment" money, and then pays off old investors with new investment money until the scheme collapses.
If you want to believe that bitcoin is not a Ponzi scheme, that's okay with me. But I have to remind you that even the bitcoinbots on their message boards frequently acknowledge it is a Ponzi scheme but they don't care. One even wrote, "In the future when someone runs a sophisticated, technology based Ponzi scheme, they will call it being bitcoined."
quote:We finally agree on something!
I'm dumber than everyone in this thread.
2
Posted on 4/18/13 at 9:24 am to LSURussian
back to sqaure 1:
Who is the fraudster?
Who is the fraudster?
Posted on 4/18/13 at 9:32 am to LSURussian
Call bitcoin a scam or a delusion all you want. That's perfectly fine.
But the allegation is that it is an elaborate ponzi fraud. I don't see it.. . . And ZERO facts, if true, have been proferred in support of this allegation.
But the allegation is that it is an elaborate ponzi fraud. I don't see it.. . . And ZERO facts, if true, have been proferred in support of this allegation.
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