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by scotty79 1464 days ago
Bitcoin is a bubble. Protocol that arbitratily rewards holding is what makes this Ponzi.

Awarding tokens without efficient mechanism to destroy them causes inflation when speed of printing exceeds the speed of raising demand for them. And there's no way to correct it so inflation can turn into hyperinflation and run on bank and collapse of the whole scheme.
1 comments
tim333 1463 days ago
If bitcoin is just a bubble why is it still here after 'popping' like five times. And if the protocol that rewards the token holders is a Ponzi who is the Ponzi schemer?

It seems to me much more like the beanie baby thing.

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scotty79 1463 days ago
> If bitcoin is just a bubble why is it still here after 'popping' like five times.

Because it is built to be infinitely reinflatable. Bitcoin bubble popping changes nothing about Bitcoin and human greed.

> And if the protocol that rewards the token holders is a Ponzi who is the Ponzi schemer?

People who create the protocol and set the rewards for themselves and others and cash out before the whole thing collapses.

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