Followers | 196 |
Posts | 11504 |
Boards Moderated | 0 |
Alias Born | 11/29/2007 |
Sunday, December 17, 2017 3:34:25 PM
"In a Ponzi scheme, the new investors pay off the old investors until there aren't any new investors. Then the scheme collapses and everybody still in it loses everything. Though not intended, this is the function of the bitcoin exchanges: new buyers pay off the folks ready to get out.
"It's not quite a Ponzi scheme because there are some products that can be bought with Bitcoin. But, there are so few and they are so fickle that when Bitcoin collapses you won't be able to tell the difference."
Recent BTCUSD News
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- Two California Men Arrested by Feds for Allegedly Stealing $250,000,000 in Bitcoin From Washington D.C. Victim • The Daily Hodl • 09/22/2024 06:45:58 PM
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- ‘Uptober’ Is Just Around The Corner: Here’s Where Bitcoin Price Is Headed • NEWSBTC • 09/22/2024 04:00:07 PM
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- Avalanche (AVAX) Could Rise 50% If It Breaks $28 Resistance – Crypto Analyst • NEWSBTC • 09/22/2024 02:00:17 PM
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