tag:blogger.com,1999:blog-6391231178388641491.post4812087919094905472..comments2024-03-01T20:36:24.523-08:00Comments on Blacks In Bitcoin: An extremely long, incredibly thorough explanation why BitConnect is NOT a Ponzi schemeBlacks In Bitcoinhttp://www.blogger.com/profile/03198941860525960203noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6391231178388641491.post-11136587231420954122017-12-21T22:58:00.157-08:002017-12-21T22:58:00.157-08:00Okay then, so not a ponzi but a combo with a pump ...Okay then, so not a ponzi but a combo with a pump and dump stock market like 1928 and hyperinflation due to currency manipulation.<br /><br />Or how about the inflation of currencies the world around when governments just start printing more money to cover their debts?<br /><br />Or how about how the Fed works?<br /><br />Take any example of currency manipulation combined with the psychology of markets and how people respond to hype. Whether the exact word "ponzi" fits or not, house of cards certainly does.<br /><br />And no, those aren't the only ways that house of cards could come tumbling down. Just as bubble markets crash as soon as a critical mass of people say, "Wait a minute, they can't afford to keep doing this indefinitely; I'd better take my gains and go before this ends." ... Once the flow of new people into the coin exceeds the flow of people out of it, it all collapses. Because there are not enough people wanting to buy the coin to be able to pay interest at all, and then because there is no interest more people want to cash out so they can buy a coin that's appreciating more, but then not enough people are trying to buy in... and it snowballs until the owners see diminishing returns and decide they'll be the next ones out to reserve as much profit as they can for themselves.Gennoreply@blogger.com