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is bitcoin mining a ponzi scheme

is bitcoin mining a ponzi scheme插图

Best answer


Bitcoin in itself isnot a ponzi scheme.It is just a technological advancement in the field of currencies. As an e-mail has replaced the physical courier/mails, Bitcoin or cryptocurrencies may replace physical fiat paper currencies in future.

People also ask


  • Is bitcoin a Ponzi scheme like gold?

  • This makes gold its closest comparison. Some people assert that Bitcoin is a Ponzi scheme because it relies on an ever-larger pool of investors coming into the space to buy from earlier investors.

  • Is Satoshi鈥檚 Bitcoin a Ponzi scheme?

  • Promising unusually high or consistent investment returns is a common red flag for being a Ponzi scheme, and with Satoshi鈥檚 original Bitcoin, there was none of that.

  • What happens to the money in a Ponzi scheme?

  • But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves. With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive.

  • Who was Charles Ponzi?

  • One of those whose name will forever be remembered in the history books for his dishonest actions is Charles (Carlo) Ponzi. Who hasn鈥檛 heard of the Ponzi scheme? To put it simply, a Ponzi scheme is a type of fraud and a financial pyramid built on luring investors with promises of fast and high profits.

    is bitcoin a pyramid

    is bitcoin a pyramid插图

    Best answer


    NOT a pyramid scheme

    People also ask


  • Is bitcoin a pyramid scheme?

  • Tendayi Kapfidze, the chief economist at America’s largest online lending marketplace LendingTree, is convinced that Bitcoin is nothing more than a pyramid scheme. During a recent panel discussion, he told Yahoo!

  • Does bitcoin look like a Ponzi scheme?

  • It looks like a Ponzi scheme or a pyramid scheme. If I buy bitcoin today, it will be more valuable tomorrow because others have bought it at a higher price. As an existing 鈥渋nvestor,鈥?I am benefitting from others getting in. Meanwhile, what I鈥檓 actually owning is a bitcoin.

  • Is bitcoin a scam or legit?

  • Over the course of the last 11 years, Bitcoin has traveled a long way for an unknown new invention to the largest cryptocurrency in the world, with a market cap of $130 billion. However, despite all of its achievements, there are still many who think of it as a pyramid scheme and a scam. Get 110 USDT Futures Bonus for FREE!

  • What is bitcoin and how does it work?

  • As many likely knows, Bitcoin is a Peer-to-Peer (P2P) electronic cash system. which was introduced in a white paperback on October 31st, 2008. It was launched on January 3rd, 2009, which is when its creator, Satoshi Nakamoto, mined the Genesis Block.

    is bitcoin mining a pyramid scheme

    is bitcoin mining a pyramid scheme插图

    Best answer


    NOT a pyramid scheme

    People also ask


  • Is bitcoin a pyramid scheme?

  • Bitcoin is NOT a pyramid scheme, as there is no reward and guaranteed returns for buying BTC coins. Be wary of the people who claim otherwise. However, there have been many platforms that used Bitcoin in their scams, but that tells nothing about the coin and technology behind it.

  • Is bitcoin a Ponzi scheme?

  • In short, Bitcoin is the total opposite of a Ponzi scheme. A Ponzi scheme is very similar to a pyramid scheme, except you are not rewarded for enrolling other people, but you do earn a part of whatever they pay. A classic structure of a Ponzi scheme. A Ponzi scheme needs a hierarchy or people who are down, to generate returns for people who are up.

  • What is a pyramid scheme and how does it work?

  • A pyramid scheme is a business model that allows a certain company to stay afloat by recruiting more members who are fed with false promises of sky-high returns. However, only early participants are able to make money with such frauds.

  • Is bitcoin a scam or legit?

  • Over the course of the last 11 years, Bitcoin has traveled a long way for an unknown new invention to the largest cryptocurrency in the world, with a market cap of $130 billion. However, despite all of its achievements, there are still many who think of it as a pyramid scheme and a scam. Get 110 USDT Futures Bonus for FREE!