News for hackers. Stuff that matters.

A comment on Cryptocurrency is akin to ‘Ponzi scheme’. Parent comment

Re:Cryptocurrency is akin to ‘Ponzi scheme’ by randomhodler84 on Wednesday February 16, 2022 @09:18PM (#30368802)
Ya know, Amazon stock is the same. Is that a ponzi?

Maybe it’s a super ponzi because unlike BTC, Amazon can keep issuing common stock, which pays no dividend. BTC is capped at 21M.

Non-dividend stock is shuffling funny tokens between investors who hope it will be worth more in the future.

So either lots of things are ponzis or maybe they are not ponzis at all, and the definition doesn’t work.

[ Parent | on HN ]
Re:Cryptocurrency is akin to ‘Ponzi scheme’ by hypertele-Xii on Wednesday February 16, 2022 @09:33PM (#30368878)
The difference is, Amazon apparently performs useful work. Bitcoin is literally an energy-wasting contest.
[ Parent | on HN ]
Re:Cryptocurrency is akin to ‘Ponzi scheme’ by randomhodler84 on Wednesday February 16, 2022 @09:48PM (#30368979)
Consumerism at your fingertips, delivered; or a censorship resistant peer to peer monetary system. I know which does more work for me!
[ Parent | on HN ]