Quote from: qwertyup23 on Today at 06:05:38 PM

Quote from: titular on December 14, 2021, 07:41:09 PM

What is the best argument against the Ponzi scheme narrative?
In what ways are Ponzi schemes different from bitcoin?
How do they generate value differently?

First and foremost, ponzi schemes already existed long before cryptocurrencies were created. The idea is simple- people would offer ridiculous amounts of interest rates in exchange for a minimum investment in a project, to be cashed out in a minimum of days or months depending on the deal/package you offer.

Bitcoin is definitely not a ponzi-scheme. It can be so difficult to imagine it being associated with it since it is entirely a system where people would invest in a certain project for a 'guaranteed' investment. Like what the name suggests, it is a 'scheme' where the risk of losing your money is so great that most people (myself included) got scammed by it.

As someone who consistently reports ponzi-schemes being advertised in the forum, I tell you that most have poorly-designed websites that were created in order to attract newbies into thinking that they can generate this amount of money in a short amount of time.

The way i understand ponzi scheme is not the another person will understand ponzi scheme, but ponzi the way i see it, is something that happens to be illegal that have no trust and is already existing before introduction of bitcoin, that is why some people encroached it to bitcoin area, is investing that does not have bottom root