Quote from: Slow death on May 16, 2016, 05:34:42 AM

Quote from: Honestbit on May 15, 2016, 11:57:30 PM

Quote from: Slow death on May 15, 2016, 11:34:11 AM

Quote from: Honestbit on May 14, 2016, 03:27:40 PM

Quote from: Slow death on May 13, 2016, 05:18:41 PM

Quote from: Honestbit on May 13, 2016, 03:04:56 PM

Just because all of the previous ponzis have stopped paying, doesn't mean that they all will.

Think about how social security works, when you compare it to the definition, it's a ponzi too.

interesting your point of view

well, I think you know this guy ... WHAT do you think the question he asked?

https://bitcointalk.org/index.php?topic=1468761.0

I'm not sure what you mean here.

Also, you were asking for an example of a long-paying ponzi, well, Social Security is a great example.

Social Security is different from a Ponzi scheme

- No outsize returns are promised by Social Security.

- Participation in Social Security is not voluntary.

- Ponzi schemes are insolvent; Social Security is not insolvent.

- Funds received into Social Security are invested in government-backed securities at a certain interest rate, thus generating returns. In a Ponzi scheme, there are no investments made.

- Ponzi schemes work only until people get wind of what is going on, at which point they inevitably collapse. Social Security's finances are plainly visible for all to see. Modest adjustments in tax rates, benefit formulas and the retirement age can ensure the program's viability for generations to come.

- Ponzi schemes are a criminal enterprise; Social Security is not.

I think you should be the guy who made that post Grin

Boi, how does being mandatory make it any better? People chose whether or not to participate in my ponzi, and I encourage only those educated to do it. But, looking back at the definition of a ponzi:
A Ponzi is any scheme which pays interest to "Investors" from Bitcoin coming in from new Investors

other than the bitcoin part, social security indeed is a ponzi, just one that doesn't collapse.

They are completely different things, I did question to post this picture to view the difference.

Ponzi is illegal and insolvent

In terms of mathematics ponzi scheme does not have to survive for long.

The rules who are on your site not saved from collapse, what you would be doing is profit to cost naive investors

I know I'm taking your 5% profit + some coins lies to investors that the system has reset. Grin

Oh! It must be very hurt. I say 5% profit ... Grin

Ok. I am legitimately confused. I actually wanted to make a bitcoin doubler (for a profit to myself) that wasn't a scam. If I wanted to scam naive investors, I would not have told them that this was a ponzi system. I wanted to make sure all investors were educated in the system, as you can see in my post. I don't think it is insolvent because the investors know exactly when the resets are, also since I have been paying all payouts up to now.

If you read this article (https://www.washingtonpost.com/blogs/ezra-klein/post/is-social-security-a-ponzi-scheme/2011/08/25/gIQA2t0dcL_blog.html
), it says:
"What makes a Ponzi scheme a Ponzi scheme is that its a giant fraud. People think theyre investing in postal stamps. Their money is actually being invested in nothing. In Social Security, conversely, its perfectly clear what is going on. Every year, Social Securitys actuaries release an insanely detailed report on the systems finances, its balance of payments, the potential problems it could face, and so on. You can read their report here. In a Ponzi scheme, the finances are a secret, and thats central to the enterprise. In Social Security, they are, as a matter of law, public."

Honest bitcoin is not a fraud because the investors know that it is a ponzi. People don't think they are investing in anything with me. I make it clear to the users of Honest Bitcoin "what is going on". And all of the transactions are on the blockchain, so would be easy to accuse me if I moved money out of the system.

How can I make Honest Bitcoin not a "scam" in your eyes:
Is it educate people more on what a ponzi is?
Or take less that 5%?
Or what?
But don't tell me to scrap it.