Re: Re: [FAQ] Is BitCoin a Ponzi or pyramid scheme? (Newbie-Friendly)
i do know what is speculation and what is a ponzi scheme and what is pyramid scheme.
Let's say, a miner has 100 k bitcoins, he sells 50 k for profit, he never buys anything with bitcoin, that's not a problem, it's his freedom perfectly. But if he tells people everywhere that bitcoin is the currency of the future, he's a disgusting liar and ponzi scammer. Does that sound reasonable? and if a substantial percentage of bitcoiners are this type of person, bitcoin is doomed and held victim of a ponzi scheme.
How does him/her hoarding bitcoins and trying to play up the price damage the usefulness of them? If bitcoins aren't useful as money then they will fail regardless. Bitcoin is an experiment , let as many people experiment with it in as many different ways as possible.
Since the profitability of hoarding bitcoin is linked to the growth of bitcoin economy and fluctuates around interest rate, the chance of revenue is far better to do day-trading than long-term possessing and dumping.
I totally agree that let as many people experiment with it in as many different ways possible. I see the greatness of bitcoin again.
Bitcoin won't fall prey to ponzi schemers due to the abundance of supply and capability of division. The coming and leaving of hot money in bitcoin exchange only send the spectators and hoarders up in the air in a roller-coaster, business people and customers are not negatively affected at all in the long-run.