Post
Topic
Board Bitcoin Discussion
Re: Bitcoin ponzi accusations
by
bananas
on 11/03/2014, 19:58:32 UTC
Many journalists have been lately saying that, but it seems they never cared to check fiat currencies.

The concept is absolutely the same.
http://en.wikipedia.org/wiki/Currency_appreciation_and_depreciation

Anyone who read newspaper everyday, is probably sick of reading headlines like " appreciated with the entry of $? usd dollars in the country. Investors are optmistic."(purchase of local currency) or the other way around " devalued with the escape of $? usd dollars from the country. Investors in panick. " ( selling of local currency )

It is the same for gold etc. Before someone says that, gold has an actual use, but bitcoins too.


I think you're confused about what a ponzi scheme is.

I believe i am not, but i'm not entering the merit of what a ponzi is. If you been reading the news, jounalists have been accusing bitcoin of being a ponzi where the valuation is sustained only by the entry of new money. Supposing that it is true, fact is that fiat the same happens with fiat currencies.