Nassim Taleb says Bitcoin is an open Ponzi scheme and a failed currency

Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by tbihl on Saturday April 24, 2021 @02:37PM (#26927249)

No, because a Ponzi scheme is one in which early investors are fraudulently paid "returns" out of the contribution of later investors. This is just speculation or a bubble (which I guess you could call "open Ponzi scheme", but that's a self contradicting term.)

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by shuckles on Saturday April 24, 2021 @03:24PM (#26927585)

I see, but if we are responding to NTT’s accusation, is that addressing the substance of the argument? Seems like there is a small change in terminology and everything else holds.

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by wolfpack_mick on Saturday April 24, 2021 @02:50PM (#26927350)

I think pyramid scheme is what he means

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by lostmsu on Saturday April 24, 2021 @03:16PM (#26927528)

It is not a pyramid scheme either. Nobody promises "payments or services for enrolling others into the scheme".

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by JoeAltmaier on Saturday April 24, 2021 @03:17PM (#26927532)

Tulip Bulb then

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by Sammi on Saturday April 24, 2021 @04:16PM (#26927959)

No, not that either. Anyone can plant more Tulips. There's no way to dilute the supply of Bitcoin.

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by JoeAltmaier on Monday April 26, 2021 @07:40PM (#26949732)

Planting tulips isn't an instant thing. It takes a season to grow. Not that different from mining? And not really part of the tulip thing; that was all about the bubble.

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by HellzStormer on Saturday April 24, 2021 @10:33PM (#26929910)

I mean, miners could agree on a different set of rules to apply and increase the supply.

It's harder/unlikely, but its not "no way to".

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Re:Nassim Taleb says Bitcoin is an open Ponzi scheme and a f... by Sammi on Sunday April 25, 2021 @04:59AM (#26931339)

You're describing a fork. Bitcoin has already been forked uncountable times. They don't carry over the users, so they don't carry over the network effects either.

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