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re: Bitcoin is a Ponzi scheme—the Internet’s favorite currency will collapse.
Posted on 4/18/13 at 9:32 am to LSURussian
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.
Posted on 4/18/13 at 9:52 am to gizmoflak
quote:
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.
Elaborate Ponzi schemes don't leave written notes around saying "this is a Ponzi scheme."
Bernie Madoff's Ponzi scheme investment fund only became confirmed that it was a Ponzi scheme when Madoff himself confessed to it, although there had been several entities which suspected he was running a Ponzi scheme which they couldn't prove as a "fact."
It appears the only thing that will qualify as a "fact" for you to be convinced that bitcoin is a Ponzi scheme will be for the inventors of it to issue a press release confessing to it, just like Madoff did.
I am saying bitcoin is a Ponzi scheme because it has all the characteristics of a Ponzi scheme, albeit a very sophisticated, high tech one that preys upon the paranoia of the marginal underclass of humanity. Like wiki, for example.....
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