An acquaintance posted about BiblePay on a few Christian Facebook groups but they werent interested.
Even a lot of really smart people (even a lot I know personally) think Cryptocurrencies are a ponzi scheme still.
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I really like this coin because its max supply is 5 billion by 2050, so there is still a lot of time for people to get into it.
We need a good way to educate people about Cryptocurrencies. It will happen in time on its own, but will take time...
We are the 1st users, the testers, the techies, we are the early adopters.
Alt coins
are a ponzi scheme. You just need to have a huge supply of the coin to mined early on (100's of million) and then sell that off to an 'investor' group who will buy them from you. That group hopes the price will rise and in turn sell them downstream to the next group in the scheme. And so does that group and on and on.
The formula MUST have huge supply of coins for this to work. otherwise how can the initial teams profit if their tokens are valued at 1/100th of a cent when they enter the exchanges. 'we make it up on volume' principle holds true here. Its all about the market cap for this scheme as it feeds the greed and hopes of new comers to the ponzi.
At no point in this chain is there a functional purpose of the coin other than price speculation. For most all alt coins this is true. Only the very high tech ones like ethereum aim to build an actual platform for functional utility.
Biblepay is unique in that it claims to portion an amount to charity. And it has 237 million coins mined