Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
jonald_fyookball
on 27/12/2014, 18:20:49 UTC
That's not what a ponzi scheme is.  http://en.wikipedia.org/wiki/Ponzi_scheme

Read http://www.sec.gov/answers/ponzi.htm and ask yourself - what if Bitcoin is a ponzi scheme but "mutated" because Bitcoin is a decentralized entity.


The SEC page says essentially the same as the wikipedia page:

Quote
A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.

If you want to mutate the definition of a Ponzi scheme, than anything could be one.
I'm not going to debate "is Bitcoin a ponzi scheme".