Quote from: CoinHunter on April 24, 2012, 01:48:38 PM

Quote from: Foxpup on April 24, 2012, 11:31:24 AM

MicroCash is a pyramid scheme because it steals from the poor to give to the rich. Bitcoin doesn't steal from anyone, and the block rewards are payed from a fixed and limited supply to those who take the time and effort to secure the network. It is not a pyramid scheme.

Ok you think bitcoin is not a pyramid scheme, that's fine. But are you denying the block reward for bitcoin cuts in half over time to eventually reach a low of 0? Doesn't this mean if you mine at 50 BTC per block you are getting more than the guys you bring in to Bitcoin when it's 0 per block? Unless my math fails me, 50 is greater than 0.

Your math failed to teach you about addition. Miners receive transaction fees in addition to the block reward.

Quote from: CoinHunter on April 24, 2012, 01:48:38 PM

So every time a Bitcoin user educates his friends and family about Bitcoin, he is doing so under the guise that soon there will be less Bitcoin made, benefiting the early adopter who was mining at 50 bitcoins a block.

Irrelevant. He mines 50 bitcoins a block whether he gets other people involved or not, because the block reward isn't stolen from other users.

Quote from: CoinHunter on April 24, 2012, 01:48:38 PM

Again, unless my math fails me it seems like the people who get in earlier in Bitcoin make more coins, and by encouraging more people in, those new people make less coins giving greater value to the first coins.....

Yup, your math fails you again. Encouraging new people in has no effect whatsoever on the block reward.

Quote from: CoinHunter on April 24, 2012, 01:48:38 PM

Of course Bitcoin isn't a pyramid scheme, I was just kidding around there friend. If anything is a pyramid scheme it's MicroCash, where fees are equally distributed back to the chain depending on the amount of MicroCash in them. If anything screams pyramid to me, it's a blockchain where fees are redistributed proportionally to the amount of MicroCash you have.

There you have it folks, he admits the whole thing's a pyramid scheme. Can we go now?

Quote from: CoinHunter on April 24, 2012, 01:48:38 PM

Thanks for clearing it up for us.

Glad to be of service. Grin