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re: Bitcoin is a Ponzi scheme—the Internet’s favorite currency will collapse.
Posted on 4/18/13 at 10:56 am to gizmoflak
Posted on 4/18/13 at 10:56 am to gizmoflak
Since there has been no ponzi theory articulated in this now 12-page thread, I'll make my own assumption:
- Nakamoto invented an open source crypto currency.
- He and his buddies mined 200k bitcoins using a pentium I at a cost of $35.67 in electricity bills.
- They patiently waited until April 2013 when each bitcoin was worth well over 100 USD
- Then, they sold their 200,000 BTC on the open market for millions of dollars.
Sounds like a ponzi scheme, huh?
- Nakamoto invented an open source crypto currency.
- He and his buddies mined 200k bitcoins using a pentium I at a cost of $35.67 in electricity bills.
- They patiently waited until April 2013 when each bitcoin was worth well over 100 USD
- Then, they sold their 200,000 BTC on the open market for millions of dollars.
Sounds like a ponzi scheme, huh?
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