Bitcoin Is a Ponzi Scheme

Re:Bitcoin Is a Ponzi Scheme by qeternity on Tuesday November 02, 2021 @03:29AM (#29078125)

How in god’s green earth do you arrive at this conclusion.

I’m convinced having read the comments here that nobody actually knows what a Ponzi is.

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Re:Bitcoin Is a Ponzi Scheme by samwilliams on Tuesday November 02, 2021 @03:39AM (#29078198)

Put aside for a moment the name for the 'scheme' and consider the mechanism design differences between USD and Bitcoin:

- USD is needed in order to pay taxes on the US, but can be printed arbitrarily by a centralized mint.

- Bitcoin has no fundamental demand driver, but does have a truly capped supply.

Why is it so obvious that USD is a preferable scheme?

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Re:Bitcoin Is a Ponzi Scheme by qeternity on Tuesday November 02, 2021 @04:22AM (#29078453)

What sort of straw man response is this ? I never said USD is preferable. I said that fiat currencies are not ponzis.

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