Quote from: squatter on December 13, 2019, 10:59:40 PM

Quote from: dohh on December 13, 2019, 06:28:08 AM

Bitcoin is a pyramid scheme. I get it, some people understand it and they are OK with scamming from BTC. But those who do not understand it... are in real danger of losing tehir hard-earned money.

According to Wikipedia:

Quote

A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products.

I was never promised payments for recruiting other Bitcoin investors. Were you?

You could argue the Bitcoin market operates by the greater fool theory -- people invest because of an irrational expectation that prices will always rise, not because of intrinsic or fundamental value.

That's about it, though. Anyone claiming that Bitcoin is a Ponzi or pyramid scheme doesn't understand how those work.

Indeed, in an actual scheme you HAVE TO bring other people for you to be able to cash out, once you give them your money, there is no way out but that.

dohh is just badmouthing Bitcoin who knows why...

Bitcoin doesn't care what others are willing to pay for it, that has nothing to do with Bitcoin, its out of code and its not its business. The market is giving it a price, if you don't agree then don't buy it, simple. If the others want to buy it its their problem. Nobody is promising anything. You can spend the rest of your life thinking its just a bubble "waiting to pop", but that is your problem.

Bitcoin has the value it has because its useful to others, if it wasn't useful nobody would want it. People do not buy bitcoin to be rich overnight, that is long in the past, as i said, the minority that trusted it back when nobody else did. Its their prize for investing early.

Now we ended up with a digital secure coin, which was the intention the first place. So everything went according to plan, no matter what price it ends in. And yes, it will keep going up, albeit slower as time passes and it reaches maturity. Because its deflationary currency, it has a limited production written in code, so it doesn't suffer from the inherent inflation of fiat and centralized currencies.

The fact that its slowing down means its getting mature. It has a very solid base. dohh must have been waiting a decade for it to fail, well see you in 2030. I dare you quote this in 10 years.