Re:Is Filecoin a $257 million Ponzi scheme? [pdf]
by amarkov on Thursday November 30, 2017 @02:05PM
(#15818524)
The argument is that Bitcoin is a decentralized, globally distributed Ponzi scheme, in the same way that it asserts itself to be a decentralized, globally distributed payment network. It seems unfair for Bitcoin proponents to go around saying "it's gotta be centralized or it's not really X".
Re:Is Filecoin a $257 million Ponzi scheme? [pdf]
by SippinLean on Thursday November 30, 2017 @02:31PM
(#15818762)
Unless the most basic definition of X relies on a central actor, like a Ponzi. In which case it's not only fair, but accurate.
A MLM scheme is that: a scheme requiring a central actor to pay commissions. This is why Bitcoin and decentralized currency has never fit this definition.
You could say there are some abstract resemblances (BTC bagholders encourage others to buy) but this is just abstract and not specific enough to fit the definition.
We've seen people run Ponzis using BTC, we've seen ICOs structured as Ponzis. However "Bitcoin is a Ponzi/pyramid/MLM" will never be true; not literally at least.