Re:Bitcoin has risen more than eightfold in past year
by tetrep on Tuesday August 15, 2017 @01:18PM
(#15020230)
> Current bitcoin holders can only see gain if new "investment" (I find that term funny since it's a "security" with no fundamentals) comes in. That's pretty much the definition of a Ponzi scheme.
That's 1/2 a Ponzi scheme, the other 1/2 is an entity promising you a return. I think you'd need to commit some fraud along the way too. If someone said "For every 5 dollars given to me, I will provide a share, and dispense 1/(2*N) dollars to all other shareholders, where N is the number of other shareholders (N=0 for the first donation, 1 for the second, etc)." Would that be a Ponzi scheme? There's no fraud, so I don't think it would be, despite having identical mechanics.
That's 1/2 a Ponzi scheme, the other 1/2 is an entity promising you a return. I think you'd need to commit some fraud along the way too. If someone said "For every 5 dollars given to me, I will provide a share, and dispense 1/(2*N) dollars to all other shareholders, where N is the number of other shareholders (N=0 for the first donation, 1 for the second, etc)." Would that be a Ponzi scheme? There's no fraud, so I don't think it would be, despite having identical mechanics.