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A comment on Bitcoin has risen more than eightfold in past year. Parent comment

Re:Bitcoin has risen more than eightfold in past year by foepys on Tuesday August 15, 2017 @01:13PM (#15020156)
> Well, in a nutshell, it's not a Ponzi scheme, which is not just a random slur you can fire at anything that vaguely seems like fraud, but a specific scheme that works in a specific way.

Please explain. How is Bitcoin not a Ponzi scheme? It checks all boxes:

- No immediate value, nothing in Bitcoin has worth outside of it. No IP, no machines, no added value to society

- Old investors get paid exclusively by new investors (buy at $500, sell at $3,000)

- Heavy marketing by old investors through promises of extreme gains ("if you bought in 2011, you'd have made 10,000% gains right now!")

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Re:Bitcoin has risen more than eightfold in past year by SippinLean on Tuesday August 15, 2017 @01:25PM (#15020298)
> Old investors get paid exclusively by new investors

They absolutely do not, no dividends are paid in Bitcoin by any entity.

Bitcoin's value may rise based on many factors, of which new buyers are only one (not the "exclusive" factor as you claim).

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Re:Bitcoin has risen more than eightfold in past year by jerf on Tuesday August 15, 2017 @02:32PM (#15020978)
"Please explain."

https://news.ycombinator.com/item?id=15020232 , up or down thread a bit.

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