Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
EarnOnVictor
on 02/11/2024, 17:21:00 UTC
Ser, read the post again, and please get the actual context. What I said was, from the viewpoint of a normie and/or a person from the traditional banking system, Bitcoin might be considered a "Ponzi" by those people like how we Bitcoin HODLers consider shitcoins.

Plus from a another, more controversial viewpoint, Bitcoin is ACTUALLY a "Ponzi", but a sort of naturally-occurring "Ponzi" LIKE GOLD.

A Ponzi scheme? Bitcoin is far from it and should never be considered such by any reasonable person.

Being used to fiat is not a valid reason for anyone to play idiocy on a fact. Does Bitcoin pay A and deny payment to B? Or it uses the money of A to pay B etc, just like a Ponzi scheme? Certainly not. Bitcoin is a currency, but in the form of a decentralised crypto network, that's the only difference it has with fiat currencies. If the government allows it to have full rights and potential, it will help the people more than the fiat currency.


No, I never said it's a Ponzi "Scheme" with an entity on top running the "Scheme". Get the whole context. Bitcoin, like Gold, is a naturally-occurring Ponzi. It's simply a market that was boot-strapped by a community that values the asset.

 ¯\_(ツ)_/¯

BUT, Bitcoin does have technical features that ARE VALUED especially by some groups of people that are in need of censorship-resistance.
Of course, you never said it was a Ponzi scheme, that question was never directed to you but to those who thought it was a Ponzi scheme simply because they are used to the traditional and fiat systems. But your concluding path is a bit confusing and I can assure you that it will mislead a lot of people to call Bitcoin a Ponzi scheme even though you didn't mean it that way, but the way it is structured, which is the truth. Some bigots here may even attack you on that for their blind extremism. To avoid such, I advise you to say it only in the midst of wise people who will rather be objective and insightful.