Quote from: Proty on Today at 04:29:38 PM

Quote from: Wind_FURY on November 03, 2024, 01:42:32 PM

Quote from: DubemIfedigbo001 on November 01, 2024, 12:31:50 PM

Quote from: Wind_FURY on November 01, 2024, 09:33:02 AM

Quote from: Stablexcoin on October 31, 2024, 02:04:16 PM

Quote from: Wind_FURY on October 31, 2024, 10:31:21 AM

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.

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BUT, Bitcoin does have technical features that ARE VALUED especially by some groups of people that are in need of censorship-resistance.

Obviously, you are being sarcastic and I understand it clearly.

I'm not being sarcastic. Bitcoin is like Gold - it's a naturally-occurring Ponzi. But it's NOT a Ponzi "Scheme" with a nefarious entity on top trying to scam people. It simply means that a market developed around something that was adopted and which is valued as an asset class.

¯\_(ツ)_/¯

Plus as a decentralized, censorship-resistant asset that could give its users some self-sovereignty, it SHOULD be valued.

Do you even know about Ponzi or the origin of that name, well for your information that name dates back to Charles Ponzi the creator of Ponzi Scheme or rob Peter to pay Paul investment activity. He was always known for his criminal activities from a young age until he came to US. The name Ponzi "scheme" and relates to his fraudulent act of 1920 where he defrauded US investors of almost $15 million before being convicted and sent to prison. so, There is no Ponzi without the scheme going hand in hand. Ponzi Invented Ponzi scheme, so there is no way you are making a strong point out of that without hinting on criminal or scam undertones. read This for more clarity

Bitcoin on the other hand was born out of the underlaying desire to foster accountability, transparency, security and value for your money which promotes a sense of inclusion and an equal opportunity to everyone that adopts it properly to benefit from its abundance. bitcoin was intentional and not just something naturally occurring and the intentions have not changed but continues to be validated as it gains more recognition and trust among investors.

So next time, even if you are drunk, DO NOT ASSOCIATE BITCOIN WITH PONZI EVER AGAIN.

Ser, the term "Ponzi" was merely stigmatized because the originator was a scammer. But TECHNICALLY it describes how in order to exit the system with some profit, NEW MONEY must enter that system. Do you understand?

Bitcoin is a naturally-occurring Ponzi LIKE Gold, NOT a scam like those Ponzi Schemes that has a nefarious entity on top. There's a difference, ser. Cool

Describing bitcoin with the term naturally occurring ponzi sound more scary and confusing to me because of my experience with ponzi which i believe so many have had such experience ,you maybe actually trying to prove a point but by using the term ponzi scheme which makes what you are saying to appear misleading. Ponzi scheme has done more harm than good and bitcoin is nothing of such so describing bitcoin as a naturally occurring ponzi will only end up in scaring newbie in investing in bitcoin and making them to view bitcoin as a scam because of what ponzi is known for .so i would advise you look for a more suitable term in driving down your point instead of ponzi scheme.

What you said is true because i was really confused when i saw what wind Fury said about bitcoin being a naturally occurring ponzi to me is a misleading statement morespecially for a newbie like me and others , if you want to introduce someone to bitcoin and you use the term naturally occurring ponzi scheme , you will end up scaring them away .i think what proty said is right instead of naturally occurring ponzi describe it with a more acceptable term.