Discussion in 'BlackHat Lounge' started by garrido, Apr 18, 2013.
bitboin is free market imo
I haven't watched the video but if you're going to go calling names, you might as well call "USD" a pyramid scheme.
Great video.. Has he done another one since? Seems like its a bit old
Good point there!
When an investor is presented with a new start-up, he usually sees 2 slides: The Pain and The Solution.
If these two are clear and convincing, then the rest are not relevant anymore.
Applied to Bitcoins:
- The Pain: Banks
- The Solution: Decentralized Currency
Bitcoins, like any successful start-up, solves a real problem, and its good to invest in them, just like it was good to invest in Google (when they just started).
worth a look imho. Make a coffee and sit down and watch it. He makes some very good points......especially about the guys who started it and who have 6 Million bitcoins..... not a bad days work....
The guy clearly doesn't know what a ponzi scheme is, lmao.
Wow so many bitcoin hype and news nowadays!
Its not a pyramid scheme to me. This investment is very profitable if you know what you are doing even if you are a late comer. First know the game before you play them.
I agree, I dont want to say much .But its profitable if you know what your doing. =)
That stupid & inane video has already been posted. There is no comparison between a Ponzi scheme and BitCoin. Anyone that thinks this doesn't understand what a Ponzi scheme is, what BitCoin is, or both.
The idiot in the video says nothing about BitCoin, other than FUD.
Do you even know what a pyramid scheme is? It's not a subjective truth, where it means something valid to one person, and it means something valid to another. It's either a pyramid scheme or it's not. I think that before people post an opinion about pyramid schemes, ponzi schemes and bitcoin, they ought to understand all three 1st.
Wikipedia has good-enough articles on all 3 of these, and it will take a person of average intelligence about 30 minutes of reading and some thought comparing them in order to understand why they are all different.
This is 15 minutes of bullshit. The people who created the bitcoin didn't hoard it... they spread it around. They harvested 6/21 bitcoin before it was ever released, if they didn't spread it around to people, like paying 10,000 bitcoin for a pizza, this wouldn't have worked.
This is not a ponzi scheme in any way shape or form. People who trade bitcoin in marketplaces for products and services actually hold value in it... there isn't some puppet master controlling everything.
I'd say it's a variation of a ponzi...more of a decentralized ponzi...if you got in first and cash out before it crashes you win.
You only say that because you have absolutely no idea what a Ponzi scheme is. You should read the wikipedia article first.
No no no, it's not a ponzi scheme...
It's insider trading :|
It may be a bit risky, but it's still much better than other payment systems, no fees, no risk, no annoying people asking for IDs..
No, no, no. It's a Ponzi Scheme, not money. And you HAVE to say it's a Ponzi Scheme. That's the rule in this thread. No one can post anything else in this thread.
The soap. Pick it up.
Then say "BitCoin is a Ponzi scheme."
saying bitcoin is a ponzi is like saying BHW is a ponzi douche mucher. someone please educate me about bitcoin in 2 short sentences. i was thinking of investing 5 dollars in either bitcoin or litecoin but these invisble coins are way over my marshin head and i dont know if i want to risk it. maybe start out with 2 dollars to test water and get feel for it. any advice would be greatly appreciated.
Separate names with a comma.