Bitcoin a ponzi? Still?

in #zappl5 years ago

I came across yet another article stating bitcoin is in deed a ponzi scam? Well what I don't get is how can such a huge idea open sourced platform can be considered a ponzi.

This might be the same peeps that still think the earth is flat.


I agree earth is still flat.

Well the statement came from a bank, if we mean the same article. So it is interresting how they still want to fight it that way.

If Bitcoin does not have a utilitarian basis to maintain 'store of value', then the only way to benefit from it is for another investor to buy in at a higher price than you, whom also is hoping to eventually sell at a higher price to another.

Haha - the earth is not flat lol?

I saw that same headline this morning. Doesn't an investment have to be centralized to be a ponzi scheme? If bitcoin is a ponzi scheme, then all money is a ponzi scheme.

Actually... any fiat currency is closer to a ponzi scheme than bitcoin is, because they are centrally issued...

Maybe they confused Bitcoin with Bitconnect lol!

I don't agree that bitcoin or any other cryptocurrency for that matter is a ponzi scheme or worthless. Though speculation is driving their prices, but they have definitely solving a purpose which fiat currency can't, viz:- anonymity or pesudo anonymity, cross border payment , one standard currency across the globe , non-counterfeitable currency and much more !!

Coin Marketplace

STEEM 0.22
TRX 0.07
JST 0.027
BTC 27916.98
ETH 1765.20
USDT 1.00
SBD 2.91