To: SecondAmendment
How is it a Ponzi scheme? You either do not understand bitcoin, or you do not know what a Ponzi scheme is?
12 posted on
11/30/2013 1:25:47 PM PST by
Vermont Lt
(If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
To: Vermont Lt
It's a ponzi scheme because the early holders of bitcoins are cashing them out for "legal tender" via various exchanges. The exchanges are also making money by charging fees on these transactions.
The whole bitcoin currency bubble will inevitably collapse when either:
- Its currency hashing-encryption system is hacked
- A critical number of governments outlaw its usage
- A method is found to trivially generate valid bitcoins
13 posted on
11/30/2013 2:26:32 PM PST by
SecondAmendment
(Restoring our Republic at 9.8357x10^8 FPS)
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