Re: What are some of the dumbest arguments made against Bitcoin?
PONZI SCHEME?
Probably the biggest misconception about bitcoin is that it is a big Ponzi scheme.
The purpose of a Ponzi scheme is to (unjustly) enrich the creator of the Ponzi.
As the creator of bitcoin Satoshi Nakamoto has mined over a million bitcoins, but he or she has never sold a single bitcoin.
So how could it be a Ponzi scheme when the creator never even profited from it?
The idiots who keep making this accusation don't even know what a Ponzi scheme is.
However, the label of Ponzi scheme could certainly be applied to every altcoin that was ever made.
Because every shitcoin/altcoin creator has started their scheme for the purpose of enriching themselves.
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Lack of understanding makes people to people that bitcoin is one Ponzi scheme that people who engage in Bitcoin do they see crypto related activities such as investment in Bitcoin as one thing that people has come up with for the purpose of scamming people of their money.Probably the biggest misconception about bitcoin is that it is a big Ponzi scheme.
The purpose of a Ponzi scheme is to (unjustly) enrich the creator of the Ponzi.
As the creator of bitcoin Satoshi Nakamoto has mined over a million bitcoins, but he or she has never sold a single bitcoin.
So how could it be a Ponzi scheme when the creator never even profited from it?
The idiots who keep making this accusation don't even know what a Ponzi scheme is.
However, the label of Ponzi scheme could certainly be applied to every altcoin that was ever made.
Because every shitcoin/altcoin creator has started their scheme for the purpose of enriching themselves.
Gold Mining Unleashes a Carbon Time Bomb in the Amazon
Aerial Images Capture Swathes of Amazon Rainforest Destroyed by Gold Mining
Mercury Pollution Is Way Up. One Huge Culprit? Gold Mines
But this type of mindset is fueled by ignorance and lack of understanding because Bitcoin is not a ponzi schemes where you put money and expect the money to grow and bring you profit over the next moment because we know that Bitcoin has become one investment that is one of the most profitable due to the growth rate of Bitcoin that it has Bitcoin grows over time so investors leverage on this attribute of Bitcoin and benefits from it