How is bitcoin not a ponzi?
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because it doesn't guarantee profits based on what you have put into
if you consider bitcoin a ponzi then you should consider stocks too
It is
Bitcoin has the potential to become the world currency. It may seem like a ponzi at first, but once achieved the price fluctuations will be minimal.
Everyone in this community is a lying scumbag I never seen more shady people on the planet in this space.
The only difference is Bitcoin wasn't purposefully designed to be a ponzi but it became one anyway.
>consider stocks too
Stocks are a ownership of something, not sure if you are retarded or trolling. I don't even know anymore
Actually it doesn't. With 21 million possible bitcoin even if 1/4th of the world adopts it, split equally it only allows 600k sats per person, assuming all 21 million are in circulation. Issue is, while bitcoin is limited, it's easy to produce other crypto which is why we see so many coins out there.
In short, because it is limited as it is, at some point it will hit a ceiling as it becomes too unequal and people simply opt into another coin that isn't saturated as the only thing keeping it afloat is sentiment and it's not backed by a government.
so, you're asking this rhetorically, and not inquisitively
not gonna explain this one to you
by all means, hold onto your fiat you sub-100 IQ spaslet
It is virtual money, having less monopoly money does not make more monopoly money valuable.
Is this the twilight zone or something
>stocks represent ownership
Hahahahahahahahahahaha
Not sure if you are laughing because you are losing to much money in shitcoins and it is driving you insane or.... yeah that might be it that is probably it.
it is a ponzi but let's pretend it isn't and make some money while we throw some buzzwords around it
>A single share of the stock represents fractional ownership of the corporation
This is like the exact definition.. This board is full of either retarded niggers are underage retards.
It is but there is no Mr. Ponzi, people make it a ponzi by themselves
>losing money in crypto
I really have a hard time imagine how you can lose money if you have 3 digit iq and came here in 2017
I am starting to think you actually huff paint or smoke meth.
Kind of like a decentralized ponzi.
Really, makes you think why Satoshi disappeared.
You fell for the jew ownership meme
Satoshi was probably a jew, made a ponzi to get more shekels then disappeared
having bitcoin is ownership of a part of financial system, just like having dollars is, how hard is it to get?
Solid argument I guess it was not a Ponzi the whole time
Since FIAT is not gold based anymore, how is that not virtual money?
What gives it value other than people accepting it as a currency?
How does it matter if it is a ponzi or not? The gains of 2017 are real. That is, if you have cashed out by now.
You tell me. Or how about this why do you value bitcoin based on its dollar amount.
"Oh, look how many dollars my bitcoin is worth."
What gives gold value? It's just a metal.
>metal
Someone told me once that you can do things with it and you did not need more people to be involved to keep its usefulness. Unlike Bitcoin which seems to have less usefulness over time seeing how more and more companies don't want to use it for a fucking ton of problems.
There are many many elements more useful than gold that don't have nearly the same value. It's just a mutually shared illusion - just like Bitcoin.
Why would Bitcoin need more people involved to keep it's usefulness?
does anyone actually use bitcoins to buy stuff nowadays? legit question, I haven't followed crypto since 2015
Other cryptos, and that's about it.
U asked wrong thing gold is most useful metal and its the most rare
The right question woud be what gives value to diamonds
my impression is that its just pure speculation and waiting for the next guy who pays an even bigger amount.
there’s some other nice use cases Bitcoin has but the one i mentioned appears to be like the 80%+ big one
Rhodium, osmium, rhenium, palladium, platinum, amerecium, iridium, uranium, scandium
All more rare, all more valuable.
A ponzi requires a central operator to redistribute money and give false returns that do not really exist. This is not what is happening in bitcoin.
>but when I sell someone bought
That’s how an exchange works, yeah. Every transaction you do in exchange for goods/services is the same way. Cash for a product. No different from cash for bitcoin. Supply and demand is the driver of bitcoin price. There is no one actually taking your money and giving it to someone else who they’ve told is due for a return.
Please learn what a ponzi is before making these threads.
k go buy a cheeseburger with your bitcoins
"ultimate price formula"
That isn’t a response
>cant buy a cheeseburger = ponzi scheme
Please learn what a ponzi is before making these posts.
enjoy still living in 20th century
The argument is exchange of value
Cheeseburgers are cheap.
So It's not a lot to ask to prove that it is indeed an exchange of value (i.e. use as a currency). In this case you can legitimately argue that the potential growth of cheeseburger sales can increase the value of your shitcoins.
Otherwise you are holding it as an asset sold with the promise it will appreciate in value when the only thing that will cause it to increase in value is the money of subsequent retards.
i.e. a fucking ponzi.
I would if I could. I was there. It was less retarded. It was harder for retards like you to make friends and thus people like you were more likely to commit suicide. A literal golden age.
You can't buy cheeseburgers with gold too. There are many things wrong with bitcoin and why it's not and never will be currency but saying you can't transact with it is the reason why it has no value is a stupid argument.
That literally isn’t the definition of a ponzi scheme.
A ponzi scheme requires a CENTRAL OPERATOR to take money from new investors and use to make false returns to old investors.
You are miscontruing the argument to be “is it an exchange of value” which is completely irrelevant in determining if this is a ponzi or not.
By the way the only way to obtain bitcoin is to exchange value as I previously said. You exchange your dollars for bitcoin and vice versa. Or you exchange your computing power. Plenty of other investment products exists that cannot be used to buy goods and services and are not ponzi schemes.
>own stake in a mutual fund
>can’t buy a burger with mutual fund ownership
>see, it’s a ponzi
theguardian.com
>theguardian.com
theguardian.com
>
BITCOIN IS KILL
>BITCOIN IS KILL
BITCOIN IS KILL
>BITCOIN IS KILL
how does it feel to be in possession of kid porn, you fucking bitcoin pedos? HUH?
>implying I run a full node
>implying I even own btc
Every crypto is fucked for the same reason, you know. Blockchain is blockchain.
salty no coiner FeelsGoodMan
The same way you'd value any currency based on other currencies.