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Personally, I’d say Bitcoin is a negative-sum game.
In order for one person to win, thousands of people have to lose. If that was all it was, Bitcoin would be merely a zero-sum game. However, Bitcoin mining also uses up valuable resources like electricity and processing power, so there’s still a loss.
Calling Bitcoin a Ponzi scheme isn’t wrong, though.
looks pretty ponzi to me, mods comments made things even worse ^_-
Right, their comment basically is “A Ponzi scheme is when a company does it, but Bitcoin isn’t a company, so when Bitcoin does it it isn’t a Ponzi scheme!”
Ok, but they never denied they were doing it…
I think crypto is dumb as hell but by this logic, how are any speculative assets not Ponzi schemes then? I’d argue that by definition, it’s not a ponzi. How could it be? What entity is controlling and organizing the flow of money in such a way that investors are repaid FIFO? Not only that but there’s zero guarantee based on position in line that you’ll make any amount of money relative to that position — a guarantee you’d likely have in most Ponzi schemes.
Idk. There are a lot of reasons to hate blockchains and bitcoin but trying to label it as something is fundamentally is not seems counterproductive and disingenuous.
Yep. While I’m also no fan of cryptocurrencies, calling them Ponzis is just silly. People love repeating these slogans without actually understanding what they mean
Less ponzi and more hot potato. Right now, the potato is piping hot, so a lot of people are pumping up because HOLY SHIT 71k DOLLARS!!! YOU SHOUD BUY NAO BECAUSE IT’S ONLY GOIN UUUUUUPPPPPP
A crash is inevitable, a bunch of whales are just biding their time and nobody knows the next floor price
You’ve just described the stock market and capitalism in general. Ironically a digital curency is one of the few places where unlimited growth is actually possible. Not that BTC is a good idea of course.
bro this is the enshittification of Ponzi schemes fr fr also your eclipse glasses are fakes for sure AI made them
Hah looks like people might have taken your joke seriously
Comment they claim they didn’t like
How does he think that applies to social security?
Dude’s one of them libertarians who chant “taxation is theft”, isn’t he?
deleted by creator
Actual comment that triggered ban
Reddit’s Enshittification Accelerates Post-IPO
Film at 11
I’m not wearing any pants
Film at 11
If you lost money on crypto, I’m sorry. But I also don’t feel that bad for you. The signs were there and people have been screaming about them for years.
I cannot agree, we should try to help people to avoid ponzi. It is hard for people to resist marketing campaigns and opinion leaders trying to involve more people into ponzis
