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by sashimi-houdini
1864 days ago
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1.The term you're looking for is "naturally occurring Ponzi scheme" https://openknowledge.worldbank.org/handle/10986/19358 2. I literally don't know what this means. If it drops below 10, and you bought at 50k, you have an 80% loss. This might indeed induce "some nervousness". 3. Bitcoin is, per the title of the whitepaper,
"A Peer-to-Peer Electronic Cash System". You don't have to read very far into the whitepaper to understand that being a currency is 100% the stated objective. As you pointed out: it has failed miserably at that. 4. No... if this is a "Ponzi", then _on average_ there are more fools than smart people. Smart (or lucky) people are in fact a requirement of a successful Ponzi scheme... where else would the money go? |
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