Bitcoin Is A Ponzi Scheme

[CodeDusq]

It’s like watching a game where the rules keep changing, and you’re never sure who’s playing fair.

[midnite]

The part that makes it different is that nobody is responsible for bitcoin. In a Ponzi scheme there is always someone making the promises, but there are no guidelines for bitcoin. This is just happening on its own.

[_Percent_Best_Memes_Ever]

I take all my financial advice from dudes with chiclets all over their face

[rodrigoramos]

Okay, now explain why the dollar isn't a ponzi

[keepitprivate]

It's a hedge against inflation and the reason El Salvador is now a thriving Country.

[trumpandzig-zags]

Everything is based on what the next guy is willing to pay.

[maxcalder]

Well said. It’s pretty obvious billionaires are running this up and rug pull every few years. 2018, 2021… Fool me once, Fool me twice… 🤦‍♂️

[farnio]

My guy, you can say any asset is a ponzi scheme or based on the greater fool theory. Asset values are always based on what people are willing to pay for it.

[robo_gamer]

Bro just defined every currency in existence

[that_Dominic_guy]

“Banks are not your friend” has been categorically IGNORED for far too long

[XhectorX]

The problem is that there aren't any merchants willing to take it as payment. If markets began to trade it for goods and services like the dollar it would solidify it as a tradable capital even greater than the US dollar.

[xblazex]

I wonder if this guy realizes that this is how EVERYTHING works.

[psychic-friend-toy-freddy]

Crypto is a ponzi scheme in general ngl

[vojtechruzicka]

I agree with you most of the time, but this Is just bullshit. If you define ponzi scheme like that (which Is not the definition) It would basically mean that any currency Is a ponzi, which Is not true. If you use the definition, Bitcoin doesn't have any sign of being that. You may not like Bitcoin, I totally respect that, but please don't call It ponzi when It evidently isn't even close to be that.

[wonllasidogwonk]

You called it bro... you literally pissed off all the bitcoin boys that seen this short 😂😂😂😂😂

[Apexplyr]

This man just explained what a gold/stock investment is and called out a 'ponzi'

[varganorbert]

this what buying at the top does to a mfr

[tbm]

Literally how the stock market, housing market, pretty much capitalism, it all works the same.

No one ever wants to sell at a loss.

[chevyboyforlife]

By your definition, everything is a panzi scheme. The only reason I like Bitcoin is because the big banks and institutions do not.

[DingleFlop]

The saddest part is, Crypto used to have that "currency" part prominently displayed. It was an idealized way to get to a "Galactic Credits" system like the ones you see in franchises like Star Wars. We wanted a completely fungible way to move "value" around.

These days, it's more a "crypto-security" that constantly gets shoved up and down by extremely volatile market manipulation tactics, and is very, very, very rarely used as a currency (speaking broadly about them all, not just Bitcoin.)