By all the definition available anywhere, there is now no argument if Bitcoin can be another ponzi or not. Yes, the fact alone that it has been with us for the past 10 years or so can be a big tell-tale sign that it is here to stay and no ponzi will really be that "hot" for a long, long time. I don't think institutional money will get interested with something they know is just another fad and just another joke. In the past many years, nobody is hiding the fact that Bitcoin has been a very volatile asset - meaning it can go up and can also go down in a very dramatic fashion. When it is down, all we have to do is HODL and when it is up we have the option to let go and make good profits. Now, soon when BTC is up again covering a new ATH level, people who are fond of associating Bitcoin with being just another ponzi will be as cold as snow and as silent as the dead night.

The latest Bitcointalk Troll continues with his foolish attempt to discredit Bitcoin, but it gives us an excellent opportunity to smash his theories and the FUD that he fabricates.  

He says :

1.) BTC is not unique
Answer : Oh yes it is, it was the first Crypto currency, from which all Alt coins was copied and nothing can change that.  
 
2.) BTC is easy to hack
Answer : Wow, Do your homework fool, It is backed by the most hashing power in the world... no other Alt coin comes close.

3.) BTC is fake pricing backed by USDT which is also backed by nothing
Answer : Fake? Look at Fiat currencies and how governments manipulate their value. Bitcoin is based on actual Supply and Demand.

4.) Once the selling starts, the 'price' will go to zero
Answer : Thats what they said in 2018 and guess what it was $18 000 back then and within a few years it shot up to $60 000  

5.) Just because something went on for 10+ years means nothing the history of financial swindles.
Answer : The average lifetime of a paper currencies is 40 years before it fails. Some currencies last longer, like The US Dollar and the Pound sterling.... So I guess Bitcoin is still going strong, compared to other currencies.  

https://en.wikipedia.org/wiki/List_of_Ponzi_schemes <== Strange, Bitcoin is not on this list. 

Let's end this discussion here guys... because we just giving this Troll exposure... to spread his garbage.  

I can now see why you have a difficulty accepting Bitcoin, because old farts that lived in the past, cannot comprehend what disruptive technologies like Bitcoin can bring to the world. Lotus 1-2-3 was a spreadsheet (it's strongest application in the suit) that ran on DOS and if you think back then, you would realize that it was actually one of the programs that spearheaded the great spreadsheets that we have out there at the moment.

So, let's see what happened... between 1980 and 1990 .. Lotus 1-2-3 was the go to software for most people who worked with spreadsheets and charts etc... but then came Windows with it's GUI and Lotus 1-2-3 had to adapt, but they did not.... IBM bought them and they went on offering different versions to about 2013. (  Not a bad history, in a IT era where Software and Apps last about 1 to 5 years, if they are relatively successful )

Now, take Bitcoin and see where they changed and adapted to the changing environment... SegWit Sidechains Lightning Network ... So, Bitcoin is not waiting for it's competition in Altcoins to disrupt or replace them, it is evolving.  

Also, I never said USDT is Fiat... I am using Fiat as a Comparison ... because if you do not support Crypto, then Fiat currencies are your only option.

Bitcoin do not need a cult to support it, the technology can stand on it's own... What it needs is people like myself .. to destroy the FUD and misinformation that are directed at it to sabotage it, by people like yourself.    - The wrong thing to do about any given circumstance or situation is to do nothing. - Hubbard 

"Only gold is money, all else is credit" JP Morgan

Bitcoin is a a magic number, like in the book movie "The little prince" there's an accountant that put a number on every star to prove ownership, and sells the stars. This is essentially bitcoin, a modern day 'tulip-mania', neither gold nor credit, just bullshit.

Your comparisons fail because FIAT is backed by GOV MURDER USD is Murder, Inc.

BTC is backed by bullshit.

L Ron Hubbard would embrace bitcoin, and all its cultists as his own people.

I said USDT, I suggest you go back & read, before you shit-post. I said BTC is backed by USDT ( shit-coin ), I said BTC is backed by nothing, which means it can evaporate to zero overnight.

I support Crypto, I just don't support the bitcoin narrative;  I don't support the Bitcoin bullshitters and con-artists and pumper&dumpers. I do support the pre-2014 Bitcoin crew.

I support privacy coins, and btc isn't private.

Today there are +10K shit-coins, and 100's of them are better than 2009 bitcoin shit-ware that came out of NSA. SHA256 & SECP256k1 the basis of the entire bitcoin infrastructure are both NSA creations.

Are you talking about yourself? No, you do not need to answer the question, as it is a rhetorical question.


That's just because Bitcoin has nothing to do with those bubbles. If you can't see the technological revolution it represents, I don't need to waste a lot of time explaining it to you.

What is your underlying saying that bitcoin is a ponzi scheme? if the ups and downs of bitcoin are said to be ponzi then that seems wrong, because the underlying of it all is demand and also stock yagn there with bitcoin. Ponzi that we usually know is based on investments that get a high profit, without anything like the business ecosystem, technology, and others. Cryptocurrency contains all that.

If you're happy to discredit yourself by spouting nonsense that only uninformed amateurs and trolls would say, that's fine by us.  Every single post you've made about this is already on the wrong side of history.  You can't simply create something "better" from out of nowhere like that.  It takes time for things to grow and evolve.  This network has become battle-hardened and continues to survive and thrive despite being under constant attack.  It's not something you can just copy and magically achieve the same result.

Almost all of these fifteen-minutes-of-fame crapcoins you're talking about won't last long enough to develop network effects.  They have no utility.  You can't use them for anything, besides baseless speculation.  And mindless speculation is the only thing you seem to be commenting on here.  Perhaps it's merely the only part about all this that's on your intellectual level.



Then you must be a really slow learner, because you clearly can't recognise when something isn't a bubble.  Again, this is a robust, developed, thriving economy.  It's something that grew over time because people found it useful.  If the only thing you are capable of seeing is the price, it's no wonder anyone reading this will think you're ignorant or just plain dumb.



You keep using this word "better" and yet leave it undefined and open to interpretation.  It's almost as though you don't know how to justify that statement, because you suspect you would fail if you tried.  "Better" how?  What can you use these "better" coins for?  What purpose do they serve?  I'm of the view that the only legitimate altcoins are the ones that serve a niche which Bitcoin wouldn't support very well.  If it fills a gap in the market, it's a valid coin.  Beyond that, anything else is worthless.  



Maybe you don't read the news.  Pension funds lose money on all sorts of things all the time.  Just because they're gambling on something new, it doesn't mean the new thing is bad.  I fail to see how it could be any worse than the derivatives casino they're normally losing everyone's money in.  

Cabbage patch dolls were a ponzi scheme?

People have used soap since 2800 BC, so being old isn't a sign of instability.

If bitcoin is so terrible, then why are other coins copying it? What makes those coins so special to not be bubbles as well? If bitcoin can lose 50% in a few days, then which of those coins didn't lose much more?

Thank you for clarifying. I thought you are someone who can be reasoned with, but by this post I see you're just a conspiracy tinfoiler. This really makes everything a lot easier.

Exceptional ponzi my arse, this is a run-of-mill, suckers ponzi, just like PT Barnum talked of how stupid the USA public is/was