If you and others with a vested interest say so, then it must be true. I love the definition on the wiki of a ponzi scheme:
So give me your definition of a ponzi scheme.
:coy: :shy: yes you got me. That is what I was so cleverly intimating even though I said it a few posts prior to someone else.
You mean where you said:
Or, more likely, you just stand to lose all of your "money"
Oh right, because if someone sells a bunch of Bitcoins to other people who are willing to pay for them, Bitcoins will be worth nothing!
Imagine 10 years from now and mining gives 12.5BTC among the 100,000 users that are desperate to earn them. BTC is $1000 per coin, and there is a volume of 500,000 asks for around that price. Satoshi uses 1/5th, that's right 1/5th of wallet numero uno to buy the entire market, make $500,000,000, and BTC becomes worthless. "But, gosh, that could never happen, satoshi believes in BTC and that's why he spends so much time on the forums discussing the future of BTC."
OK, still don't see the problem. Do you fear rich people or free markets or what? You are worried about Bitcoins dropping in value in comparison to the USD because someone has the potential to sell a lot of them? Don't invest in Bitcoins. Pretty easy fix there.
If it's public knowledge, why isn't it in the wiki? In fact, the wiki is almost intentionally misleading:
I don't know, I didn't write the wiki. Nor would I use it as a sole means of information to decide if I should invest in a new currency. I certainly wouldn't recommend anyone else do that either. Why don't you fix it so that it isn't almost intentionally misleading anymore?
