Is bitcoin a ponzi scheme?

[kangug24]

I really wonder to some people who think bitcoin is a ponzi scheme. It has made so many people rich and doing better till now. But I don’t understand the reason behind this type of thought?

Bitcoin is a ponzi scheme to those who weren’t able to get in early into bitcoin. Now they are just spewing their hate on Bitcoin due to them not gaining the huge returns that everyone else who got in early earned. You shouldn’t really think about or care about these kind of people as they wont be able to harm bitcoin.

[Cold_Zero]

No, its not a ponzi scheme. Well,it matters from where you buy the bitcoins and whom you sell them to. Don’t forget bitcoins made millionaire overnight but those who believed in it. If you want to make profit from bitcoin then buy and forget it at least for 1 year. Buy when its low and sell when it go high. Remember one thing you should invest as much as you afford to loose.

You should have faith and patience then it’s not a big deal to make profit from bitcoins.

[flyaccount]

Bitcoin is a digital asset and not a ponzi scheme. People who are late investing in bitcoin will always say that because they don't get cheap prices. They just keep watching bitcoin and are disappointed when the price of bitcoin gets higher. That's why they waited when the price of bitcoin dropped, but prices continued to rise.

[pationex]

@flyaccount, ponzi scheme is a fake investment. CAra work on ponzi schemes is to pay profits to old investors from new investor money. And this is not done in bitcoin, the profit of bitcoin is obtained from the difference between the price of buying and selling. Just like when you invest in gold.

[bitpation]

The way the ponzi scheme works is to pay the profits of old investors from new investors. And this is not done by bitcoin. How bitcoin works is like trading goods. You can buy goods at low prices and sell at high prices.

[diygirl]

@bitpation, I think so too. Bitcoin is a digital currency that is booming into an investment asset. Bitcoin is often called digital gold which can be bought at cheap prices, and we can sell when prices are high. How much profit we will get, we can determine for ourselves.

[Mut-coin]

It has made so many people rich and doing better till now. But I don’t understand the reason behind this type of thought?