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A comment on Postmodern Ponzi Schemes: Empirical Analysis of High-Yield Investment Programs [pdf]. Parent comment

Re:Postmodern Ponzi Schemes: Empirical Analysis of High-Yiel... by javert on Saturday April 04, 2015 @09:43PM (#9322824)
No, bitcoin isn't a ponzi scheme because it's not a ponzi scheme.

A ponzi scheme is a very particular kind of scam.

If I started an altcoin (like bitcoin) and promised people it would increase in value, it still wouldn't be a ponzi scheme because that is not how a ponzi scheme works.

It would be a different kind of scheme that I don't think has a name. edit: Well, some people would call it a pump-and-dump, so maybe that.

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Re:Postmodern Ponzi Schemes: Empirical Analysis of High-Yiel... by Terr_ on Sunday April 05, 2015 @01:24AM (#9323213)
It may be a pyramid scheme, but you're right that the definition of a ponzi-scheme involves lying about how revenue streams and expenses.
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Re:Postmodern Ponzi Schemes: Empirical Analysis of High-Yiel... by kleer001 on Sunday April 05, 2015 @03:00PM (#9324962)
Yes, Bitcoin, like a publicly traded security, is vulnerable to pump-and-dump schemes. Very very vulnerable.
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