Re:Bitcoin has risen more than eightfold in past year
by SippinLean on Tuesday August 15, 2017 @01:17PM
(#15020212)
and even if that reality was certain, there's no one "running" Bitcoin to determine who to pay dividends to (such as in a Ponzi)
Re:Bitcoin has risen more than eightfold in past year
by bandrami on Tuesday August 15, 2017 @01:49PM
(#15020547)
Only if you ignore the exchanges, who have been marketing them to people.
Re:Bitcoin has risen more than eightfold in past year
by SippinLean on Tuesday August 15, 2017 @02:11PM
(#15020790)
The exchanges cannot decide who receives dividends and who does not, very much unlike a Ponzi.
The bitcoin price is rising as much because current holders would rather hold as because buyers are willing to pay more than they were in the past.
A Ponzi scheme promises a return, and uses new money to fund returns to existing investors. Cryptocurrencies themselves make no such promise -- those buying with intent to sell in the future are buying with the belief that the future price will be higher, but such a reality is hardly certain.