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.
No, apparently you don't know what a ponzi or pyramid scheme is or isn't.
A ponzi scheme is an investment where the investors are
paid interest with their own money or money from other investors. Normally, this requires fraud on the part of the operator. He lies about
what the investment is used for and where the interest comes from. The operator obscures the actual nature of the investment, for obvious reasons.
Pyramid scheme? Same thing with slight differences. The operator
promises returns for enrolling others into the scheme. There is
no real investment and no real products or services. Those involved get a cut of the new money, as does the operator. Those at the bottom
don't actually receive anything.
Again pyramid schemes without the lie can exist, but again the investors are playing with fire.
Bitcoin is nothing like either of these. There is no fraud. There are
no obscured details. The protocol is open source for
all to see and the block chain is a
public ledger of every Bitcoin transaction in existence! Bitcoins are what they are, and users are
free to share their opinion. It's up to those people to do their due diligence and decide what the facts are and these
facts are available for anyone to find! They may or may not purchase Bitcoin depending on whether or not they value it's properties. This is a key point as well, Bitcoins do exist, and they do have real world uses as well as certain properties that make them desirable for some people.
If I purchase Bitcoins, once I receive the coins, and the seller receives the cash, the exchange is done. There is no interest. There is no promise of return. There is no promise of profit. There is no operator. There is no scheme. There
is risk! There is risk that everyone else may decide the properties of Bitcoin have no value. There is risk that a flaw in the protocol may change the properties. There is a risk that a protocol with improvements may replace Bitcoin.
Sharing an opinion, regardless of what it might mean for you personally, does not make you a ponzi scammer. If you are lying it might make you a creep. Saying, "Bitcoin is the currency of the future," is a rather harmless opinion and it's practically impossible to verify. I used to use fiat, now I prefer Bitcoin. That makes it the currency of
my future! As far as the rest of the world, who knows?
I figured everything out when I took a walk this afternoon.
When new participants flood their dollars in Bitcoin exchange, the price of bitcoin goes up, hoarders who spread the hypes dump their coins and make their profit, in a colletive and indirect way. You can't see the individual who snaped away your money as a newbie. This is nature of bitcoin exchange as a tool of ponzi scheme. The hypers work in a team that no one exposes his face as a schemer. Is this a ponzi scheme? simple and clear yes, a subtle hidden and intricate one.
Who rescues bitcoin? The feature that a bitcoin can be divided more than a million times which eliminates scarcity. That's why a ponzi scheme works fine with other designated commodity but doesn't work with bitcoin. Hypers and schemers are doomed because they cannot drive the market in the same way as they do with other investment to beat the average return on investment.
So, bubbles exist everywhere, a ponzi scheme has no chance to work with bitcoin if the owners of 51% of the coins are basically lucid.