Post
Topic
Board Bitcoin Discussion
Re: The Ponzi scheme argument
by
tanerlorn
on 15/07/2011, 13:08:33 UTC
What I've come to realize is that Bitcoin is a ponzi scheme. But so what?

The US Dollar is also a ponzi scheme, by the definition of a ponzi scheme.

A ponzi scheme is just anything in which the first people to get in benefit greatly at the expense of those who are late to get in.

The difference? In Bitcoin people who are smart and took to the concept early are rewarded, in US Dollars, banks and governments are rewarded, and we the people are SCREWED time and time again.

I for one would much rather be a part of a ponzi scheme that is actually controlled by the people as a whole, instead of some elite power structure. And I think the average people feel that way as well. Every person I know hates banks, they're simply sick of getting raped by them. They just don't know what they can do about it. Yet.