Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is a inherent Ponzi Scheme, please correct me if I'm wrong
by
barbarousrelic
on 27/08/2014, 12:36:30 UTC
After figuring out how the mining works, that it becomes increasingly more difficult obtain, wouldn't that just cause the price to keep on increasing, like it will never stabilize and outside of the speculative fluctuations, the price will always continue to rise and the guys who set it up and invested early sit on an asset that will continually appreciate in value. The distribution won't ever be even and prices will never stabilize for it to be an viable currency for trade. So the guys who created bitcoin really made a Ponzi scheme for themselves as the price is always set to rise due to the increasing mining difficulty

See the latter half of my signature.  Additionally, 'rising asset values' is also not the definition of a Ponzi or pyramid scheme.

Oil becomes increasingly difficult for drilling companies to obtain as the decades go by. Is oil a Ponzi scheme?

Also, "The guys who created bitcoin" don't own or create all new Bitcoins - they are created and distributed, essentially, in proportion to the amount of computing power contributed to the network, and anyone can contribute.