Quote from: jaberwock on Today at 08:56:36 AM

Quote from: rc4739 on April 12, 2021, 03:40:53 PM

why I call it a ponzi because late comers pay for the early adapters with their cost of bitcoin is almost nothing
in early days of bitcoin people just mine it for fun........

why I call it a bubble have you ever seen any investment can start with almost nothing and went up all the way to over 60,000 dollar per coin in a decade time?

even if you count it from $1 per coin to over $60,000 that is over 6,000,000% return in investment

Well, the price might be over $60,000 now, but do you know why Bitcoin was developed? Bitcoin was developed to be a payment method, though it turned out that it is very volatile and people are now seeing it as an opportunity to get rich, but that wasn’t the purpose why it was made.

So, even if it should reach $100,000 and drop to $1 today, that’s not going to stop it from being used as a payment method, of course investors might get scared and run away from the market, but those who just wants to be making use of it for payment will always continue. And bitcoin is not a Ponzi as you have said, it is not, there is a clear difference between it and a Ponzi scheme which I believe the comments here have cleared you on that.

The basic theory and features allow you to think that bitcoin is used for payment purposes but the reality is that it is not for that purpose because a lot of payment systems are much more preeminent than bitcoin, Bitcoin has been able to grow until now due to the bubble that so many investors bonded together to create, exaggerating year by year, and all of a sudden, bitcoin becomes very high compared to the underlying reality. It's not a form of ponzi and it can't be used for payments, it is just a tool for others to raise prices without having too much concrete meaning