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by geraldbauer 1939 days ago
Reminder: Instability? Yes, bitcoin is a ponzi and will collapse. Learn how the investment fraud works. [1]

[1]: https://github.com/openblockchains/bitcoin-ponzi
2 comments
gruez 1939 days ago
"Needing new buyers for price to increase is not the definition of a Ponzi scheme"

https://news.ycombinator.com/item?id=26203396

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gvv 1939 days ago
Nocoiners said that at every single price and adoption milestone...
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totalZero 1939 days ago
You can make money in a Ponzi scheme, too. Just saying.
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Applejinx 1939 days ago
Until you can't. And that's the parallel right there: in practical terms, it's a scam for rewarding those that are insiders.

Bottom line is there is no exit strategy for 'suckers' who are meant to be left holding the bag. When collapse is part of the curve and denial is part of the sales pitch, it might not literally be an exact Ponzi scheme, but you're meant to be one of the smart ones hyping and profiting off the dumb ones who chronologically come after you. That's the profit strategy.

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behringer 1938 days ago
Which suckers are meant to be holding the bag? At what point does bitcoin become useless altogether?
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