𝗙𝗨𝗗 𝗙𝗿𝗶𝗱𝗮𝘆 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀!

Let us demolish this week’s FUD:

“𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙞𝙨 𝙖 𝙋𝙤𝙣𝙯𝙞 𝙨𝙘𝙝𝙚𝙢𝙚!”

To many, at first glance, Bitcoin seems like a Ponzi scheme. But once they’ve learned a little about it, they discover that it has very little in common with an 𝙖𝙘𝙩𝙪𝙖𝙡 Ponzi scheme.

Read on to learn more ⬇️

Simply put, 𝗣𝗼𝗻𝘇𝗶 𝘀𝗰𝗵𝗲𝗺𝗲𝘀 𝗮𝗿𝗲 𝗯𝘂𝗶𝗹𝘁 𝗼𝗻 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝗯𝘂𝘁 𝗽𝗿𝗼𝗺𝗶𝘀𝗲𝘀 (𝗹𝗶𝗲𝘀). Early investors are paid fake "returns", using money from “investors” that have come in later. These payouts trick people into believing the investment is profitable, which attracts more money from more victims. Secrecy and central control allow the scheme to fabricate paperwork and prevent withdrawals.

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗰𝗼𝘂𝗹𝗱 𝗵𝗮𝗿𝗱𝗹𝘆 𝗯𝗲 𝗺𝗼𝗿𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁. When it was created, Bitcoin was just an announcement of a cool new idea, with 𝘯𝘰 promises of profit. Bitcoin has and always will be completely transparent and decentralized, with a code and ledger that anyone can inspect. There is no corporate structure or centralized management to manipulate anything behind the scenes. 𝘋𝘰𝘦𝘴 𝘵𝘩𝘪𝘴 𝘪𝘯 𝘢𝘯𝘺 𝘸𝘢𝘺 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵 𝘢 𝘗𝘰𝘯𝘻𝘪?

Bitcoin does not enrich its founders at later investors' expense, but is simply digital money with no middlemen that has a fixed supply. It appreciates in “price” purely by function of an increasing demand, and unlike Ponzi schemes, inflows and outflows are open, which is why you see price fluctuations. Furthermore, Bitcoin cannot hide losses or fabricate payments because there is no “loss” or “gain” for a “scheme” to hide in the first place. Its price is purely a product of the free market.

Key takeaway: 𝙋𝙤𝙣𝙯𝙞 𝙨𝙘𝙝𝙚𝙢𝙚𝙨 𝙤𝙥𝙚𝙧𝙖𝙩𝙚 𝙤𝙣 𝙨𝙚𝙘𝙧𝙚𝙘𝙮. 𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙤𝙥𝙚𝙧𝙖𝙩𝙚𝙨 𝙤𝙣 𝙥𝙪𝙧𝙚 𝙩𝙧𝙖𝙣𝙨𝙥𝙖𝙧𝙚𝙣𝙘𝙮.

In saying all this, Bitcoin 𝘥𝘰𝘦𝘴 need more users over time to fulfill its potential. However, growing a network is very different than scamming people with a Ponzi. The internet, email, and social media also require larger networks to meet their potential, but no one would call 𝘵𝘩𝘦𝘮 Ponzi schemes.

Bitcoin has similar network infrastructure, but for money instead of information, and with no one in charge. If anything, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝘁𝗵𝗲 𝙖𝙣𝙩𝙞-𝗣𝗼𝗻𝘇𝗶, providing utility as private, borderless, digital money on a transparent, neutrally-operated network.

So to describe Bitcoin as a Ponzi scheme is at best misguided, and at worst, an attempt a deceive. Bitcoin meets 𝘯𝘰𝘯𝘦 of a Ponzi’s key attributes, whether opacity, falsified returns, centralized control, or an inability to withdraw funds. Bitcoin was fairly launched, operates transparently, and delivers genuine utility. Its growth comes from delivering 𝘳𝘦𝘢𝘭 monetary properties, that the marketplace clearly values, and whose demand continues to grow. This is why, despite market exuberance, and subsequent falls in price, Bitcoin remains and grows.

Did I miss anything, or was that a good response?

Give this a 𝗟𝗶𝗸𝗲🤙 And make sure you 𝗯𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, too!

Seen anyone spreading this FUD around?

𝗦𝗵𝗮𝗿𝗲🔄 this with them!

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𝟱𝟬𝟬𝟬 𝘀𝗮𝘁𝘀 𝘄𝗶𝗹𝗹 𝗴𝗼 𝘁𝗼 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗮𝗻𝘀𝘄𝗲𝗿 𝘄𝗿𝗶𝘁𝘁𝗲𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝟮𝟰 𝗵𝗼𝘂𝗿𝘀!