An investigation of MMM Ponzi scheme on Bitcoin Request PDF

The only reason why guys like Portnoy view Bitcoin as a ponzi is because he only understands it as a way to get more USD. Portnoy has to acknowledge why other people value and appreciate Bitcoin. It's not just a "get rich quick scheme". It's a "change the rules of the game scheme".

Bitcoin is a market mechanism to find equilibrium between supply and demand, store value, and allow humans to coordinate and collaborate in new and peaceful ways.
Problem is that the IRS stifles Bitcoin's use as a medium of exchange because of the tax laws.
submitted by the420chronicler to Bitcoin [link] [comments]

Erik Voorhees on Twitter: I gotta say... maxi's today sound an awful lot like those who ignored Bitcoin in the early days. "Scam." "Ponzi." "Will never work." "Only gold can be money." I know I won't convince you that there is value, virtue, and beauty in the crypto world beyond just Bitcoin.

Erik Voorhees on Twitter: I gotta say... maxi's today sound an awful lot like those who ignored Bitcoin in the early days. submitted by BitcoinXio to btc [link] [comments]

you can give a lot of tags to Bitcoin, a volatile mess, fringe currency, not a store of value, among others. A Ponzi scheme is certainly not one of these negative labels that a critic can throw at Bitcoin.

you can give a lot of tags to Bitcoin, a volatile mess, fringe currency, not a store of value, among others. A Ponzi scheme is certainly not one of these negative labels that a critic can throw at Bitcoin. submitted by Kipyegonn to Bitcoin [link] [comments]

/r/Bitcoin user essentially admits BTC is useless during argument about BTC and it’s likeness to a Ponzi scheme. “it has a very simple rudimentary use. [it is] a secure, reliable, immutable, decentralized store of value.”

submitted by Jzargos_Helper to btc [link] [comments]

My talk with a investment banker... Apparently Bitcoin is a Ponzi scheme and is not a store of value!

So this evening I had a face to face chat with a investment banker who manages billions for the banks. I had popped the question of his opinions on Bitcoin and the reply was that "Cryptocurrency is a Ponzi scheme", "How would it make sense for me to give you $5 and expect more money back?". His other points included the regular "It can be hacked", "governments don't understand it" and "only stupid people invest in crypto". bitcoin... please breakdown his points and give me something strong to reply to him with. Keep in mind, this guy is smart and knows his stuff. I had my points against him such as Bitcoin is a store of value better than Gold. BTC can't be hacked only the dodgy exchanges and scammers out there etc. However I would say I wasn't successful in changing his mind. Thanks!
submitted by SkaZonic to Bitcoin [link] [comments]

Emin Shit Stirrer: "Bitcoin is a store of value and a ponzi"

Emin Shit Stirrer: submitted by amorazputin to CryptoCurrency [link] [comments]

@mitchellvii: Bitcoin isn't money, it's a ponzi scheme. Its entire value is based upon what the last sucker is willing to pay for it hoping someone else will pay more. https://t.co/9kGbEoI6JB

@mitchellvii: Bitcoin isn't money, it's a ponzi scheme. Its entire value is based upon what the last sucker is willing to pay for it hoping someone else will pay more. https://t.co/9kGbEoI6JB submitted by thefeedbot to TheTwitterFeed [link] [comments]

My talk with a investment banker... Apparently Bitcoin is a Ponzi scheme and is not a store of value! /r/Bitcoin

My talk with a investment banker... Apparently Bitcoin is a Ponzi scheme and is not a store of value! /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

04-05 19:13 - '**Is bitcoin a decentralized pyramid/ponzi scheme?** / This is *not* FUD. I am genuinely interested. From what I can see, some people got rich, but not because goods and services of value were being created somewhere (as wou...' by /u/MrManHimself removed from /r/Bitcoin within 0-8min

'''
Is bitcoin a decentralized pyramid/ponzi scheme?
This is not FUD. I am genuinely interested. From what I can see, some people got rich, but not because goods and services of value were being created somewhere (as would be the case with stocks in a real company). People got rich because others hoping to get rich rushed in and pushed up the price. So it has basically been money flowing from the many to the few. And now there is little new money coming in, whence the daily panics here over prices.
What do people think of the situation?
'''
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12-30 16:13 - 'Bingo, smart dog. Now tell me the value of BTC and that's the foundation of a Ponzi. People profiting off the next sucker by selling them a worthless commodity.' by /u/MikeP3838 removed from /r/Bitcoin within 65-75min

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Bingo, smart dog. Now tell me the value of BTC and that's the foundation of a Ponzi. People profiting off the next sucker by selling them a worthless commodity.
'''
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submitted by removalbot to removalbot [link] [comments]

/r/Bitcoin user essentially admits BTC is useless during argument about BTC and its likeness to a Ponzi scheme. it has a very simple rudimentary use. [it is] a secure, reliable, immutable, decentralized store of value.

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

10-26 09:13 - 'As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. As far as cryptos as a store of value, they are not and never will be. / Let me...' by /u/TheGuru12 removed from /r/Bitcoin within 130-140min

'''
As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. As far as cryptos as a store of value, they are not and never will be.
Let me know when there is a crypto that will make it possible to buy things "they" don't want us to have.
'''
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submitted by removalbot to removalbot [link] [comments]

10-26 09:13 - 'As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. / As far as cryptos as a store of value, they are not and never will be. / Let m...' by /u/TheGuru12 removed from /r/Bitcoin within 127-137min

'''
As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out.
As far as cryptos as a store of value, they are not and never will be.
Let me know when there is a crypto that will make it possible to buy things "They" don't want us to have.
'''
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Author: TheGuru12
submitted by removalbot to removalbot [link] [comments]

If something only has value if new people keep buying it in the hope it will keep going up in value, isn't that by definition a pyramid/ponzi scheme? /r/Bitcoin

If something only has value if new people keep buying it in the hope it will keep going up in value, isn't that by definition a pyramid/ponzi scheme? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

11-24 05:32 - 'If something only has value if new people keep buying it in the hope it will keep going up in value, isn't that by definition a pyramid/ponzi scheme?' (self.Bitcoin) by /u/sgasgdsgbdsg removed from /r/Bitcoin within 42-52min

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why people keep buying BCash I have no idea
'''
If something only has value if new people keep buying it in the hope it will keep going up in value, isn't that by definition a pyramid/ponzi scheme?
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10-26 09:13 - 'As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. / As far as cryptos as a store of value, they are not and never will be. / Let m...' by /u/TheGuru12 removed from /r/Bitcoin within 128-138min

'''
As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out.
As far as cryptos as a store of value, they are not and never will be.
Let me know when there is a crypto that will make it possible to buy things "They" don't want us to have.
'''
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Author: TheGuru12
submitted by removalbot to removalbot [link] [comments]

10-26 09:13 - '[quote] As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. / As far as cryptos as a store of value, they are not and never will be...' by /u/TheGuru12 removed from /r/Bitcoin within 129-139min

'''
many never see 4K again and in 10 years a couple hundred won't make a difference. I just spent 1/4th of what I have now and save the rest for a dip. My goal is to own 5 btc before 20
As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out.
As far as cryptos as a store of value, they are not and never will be.
Let me know when there is a crypto that will make it possible to buy things "They" don't want us to have.
'''
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Author: TheGuru12
submitted by removalbot to removalbot [link] [comments]

10-26 09:03 - 'As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out. / As far as cryptos as a store of value, they are not and never will be. / Let m...' by /u/TheGuru12 removed from /r/Bitcoin within 118-128min

'''
As far as the crypto Ponzi scheme, that doesn't interest me at all. By the time the public gets excited, the insiders have already cashed out.
As far as cryptos as a store of value, they are not and never will be.
Let me know when there is a crypto that will make it possible to buy things "They" don't want us to have.
'''
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Author: TheGuru12
submitted by removalbot to removalbot [link] [comments]

To those that want to get rich quick : Bitcoin is an immutable decentralized store of value. Ethereum and alts can pump all they want making early adopters rich, like all good scams and ponzis do. /r/Bitcoin

To those that want to get rich quick : Bitcoin is an immutable decentralized store of value. Ethereum and alts can pump all they want making early adopters rich, like all good scams and ponzis do. /Bitcoin submitted by coincrazyy to BitcoinAll [link] [comments]

Economist Nouriel Roubini, renowned for his bearish thoughts on financial markets, appears to be equally pessimistic on the fledgling virtual currency bitcoin, declaring it a "Ponzi scheme" and a "lousy" store of value

submitted by DoremusJessup to Economics [link] [comments]

PRICE, FUD and Future

Hi Everybody!
I wanted to make another post because the amount of fear mongering is significant. Please ignore grammar. I wrote this in about 10 minutes and didn’t check it.
Firstly, the price drop has been disappointing. It doesn’t matter the quantum of loss, $1000 or $100k can feel equally bad depending your position in life. Losing 35% of value in 1 week is significant. What this tells me is that the real float of CRO is extremely low. There were likely some early adopters (i.e. Whales) that had been enjoying price appreciation and 18% and they bailed at the news. In any case, we don’t know how “real” the price of CRO ever was. This is true with Bitcoin as well, but the float is liquid enough where it takes a massive groundswell to truly move the price whereas CRO can move with only a few sellers. I don’t have any great insight, unfortunately.
In terms of CDC being a scazm (remove the z), this feels like total fear mongering from my vantage point. If CDC was a ponzi scheme, why would they lower the interest rate of CRO? There is absolutely no incentive if this was always a big Ponzi scheme. This is the exact kind of change that takes down scams. They can literally give CRO away at no cost to themselves. If this was a scazm, the logical decision would have been to lower every other interest rate while keep CRO unnaturally high to keep to pumping, so they could slowly sell into it. Anyways, this feels like a real business decision that was for profits while at the same time annoying customers.
Where I am disappointed is communication. CDC has been weak here for a long time and they need to get better. Kris’ unusual comment around staking amounts is another sign bad potential communication. They need to be more deliberate in these decisions. A 1 week price change should not force them to make a decision like this. I could understand a 3 to 6 month depressed price or conversely if it pumped. I would like to see them provide real guidance on how they plan to approach staking amounts so users can feel more confident in the product. For instance, be clear that current stakes would or would not get impacted by adjustments, etc.
In terms of the future, from my vantage point, CDC is one of the few crypto companies actually creating a compelling product. They have some issues, but at least there is a fundamental business behind it. The world needs crypto on ramps that are easy to use and CDC is building it. That said, they are at an important point of their life cycle and need to grow-up. If they want to become a big business, they need to start acting like one. Snap decisions are not “ok”. If they continue this path of changing massive items overnight, they will never break out as a go to company. This is what I will be watching going forward. I want the core of CDC to become boring for the most part while offering new products that may or may not work as they build out a platform.
submitted by LivingFlow to Crypto_com [link] [comments]

Happy Bitcoin Pizza Day

Legend has it, today is the day the first time Bitcoin was used to purchase of a product. On May 22, 2010 a man named Laszlo Hanyecz posted on Bitcointalk forum:
"I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!"
Another man who went by jercos accepted the offer in exchange for the 10,000 bitcoins (about $30-40 total at the time). The bitcoin was sent, the pizza was ordered and delivered, and the rest is history.
At the time of writing this, those 2 pizzas are worth over 90 million dollars.
Happy Bitcoin Pizza Day 10th anniversary!
submitted by rustedpopcorn to CryptoCurrency [link] [comments]

Bitcoin - A Ponzi Scheme  HINDI Fact: Bitcoin Is A Ponzi Scheme Where Do Cryptocurrencies Get Their Value? Ponzi Scheme or Cutting Edge? Is Bitcoin a Ponzi Scheme  Is Bitcoin a Bubble The 3 Billion Dollar Ponzi Scheme That Crashed Bitcoin Price

It’s just as easy to call the USD a ponzi scheme because it has equally as little inherent value as bitcoin does. The only reason Bitcoin and the USD have value is because people believe it does. Without a sufficient amount of individuals willing to exchange something useless for something useful, the money would have no value at all. In this paper, we focus on Ponzi schemes that operate on Bitcoin and perform an in-depth analysis of MMM, one of the oldest and most popular Ponzi schemes. Based on 423K transactions involving 16K ... I plan to demonstrate here that Bitcoin, and companion crypto currencies, are really a digital version of a Ponzi scheme, the first in History supported by social media. We all know what a Ponzi scheme is, it is based on the belief in a non-existent enterprise and only grows so long as new investors with fresh money are brought in. And that is exactly what Bitcoin is. It serves no useful ... Ponzi Because Volatility. To his credit, Gary North clearly points us to his main argument: “The coins will never be the money of the future. This is my main argument.” His justification for this position, carefully explained over several paragraphs, is simple as well, “The market value of one bitcoin has gone from about $2 to $1000 in a ... Data mining for detecting Bitcoin Ponzi schemes Massimo Bartoletti, Barbara Pes, Sergio Serusi University of Cagliari Cagliari, Italy Email: {bart,pes,serusisergio}@unica.it Abstract—Soon after its introduction in 2009, Bitcoin has been adopted by cyber-criminals, which rely on its pseudonymity to implement virtually untraceable scams. One of the typical scams that operate on Bitcoin are the ...

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Bitcoin - A Ponzi Scheme HINDI

This video explains how you can avoid losing your Bitcoin with staying away from scamming websites which are using the Ponzi Scheme also called HYIP ; Here is some website that can be useful for ... did this ponzi scheme cause the recent dump? is china's housing bubble bullish for bitcoin? Social Media: Follow me on Dlive: https://dlive.tv/MrSotko Follow... This video breaks down why bitcoin is a ponzi scheme, why it's price fluxates, and why $100,000 bitcoin will NEVER happen. If you like my work, please considering donating to my PayPal or becoming ... Bitcoin does not have any intrinsic value or backed by any kind of assets. It is purely speculative in nature and may crash suddenly. It is purely speculative in nature and may crash suddenly. litecoin LZHVqUWe8JE2PrBS7AuFU3eYgKGYPKnhpe bitcoin 1P6yTbb7CJJVpsDUKpi2VH6CMSsc6uN8jM.

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